Trump invests $100 million in corporate, municipal bonds, ethics filings show

New Delhi,UPDATED: Aug 21, 2025 03:12 IST

President Donald Trump has made more than $100 million in bond investments since taking office for his second term in January, according to newly released financial disclosures that offer a deeper look into his vast personal fortune.

The filing, dated August 12 and posted online Tuesday by the US Office of Government Ethics, shows over 600 financial transactions made since January 21, the day after Trump’s second inauguration. While the document does not provide exact figures for each purchase, it lists broad value ranges and reveals extensive activity in corporate, municipal and state debt markets.

Trump’s investments include corporate bonds from major firms such as Citigroup, Morgan Stanley, Wells Fargo, Meta, Qualcomm, The Home Depot, T-Mobile USA and UnitedHealth Group. Additional purchases span bonds issued by states, counties, school districts, gas authorities and other municipal bodies.

Many of these sectors stand to benefit from policies under Trump’s administration, including financial deregulation.

A senior White House official said the president continues to comply with required financial disclosures but that neither Trump nor his family has any role in managing or selecting the investments. A third-party financial institution handles the portfolio, and the filings have been certified by federal ethics officials. The official, who spoke on condition of anonymity, said the disclosures are in full compliance with the law.

ANALYSTS SEE BOND BUYING AS WEALTH DIVERSIFICATION

John Canavan, lead US analyst at Oxford Economics, said the bond purchases appear to reflect a strategic shift in managing Trump’s expanding wealth.

“President Trump’s net worth has increased substantially, with much off that concentrated in crypto holdings and Trump Media. Given that, there is no evidence currently that his bond purchases are anything other than a prudent diversification within his billions of dollars in assets,” Canavan said.

“It seems like he was primarily purchasing corporate and municipal bonds and others that are high quality and highly rated, so it's just a way to take a little bit of risk off the table," he added.

Despite Trump’s claim of placing his business assets into a trust managed by his children, critics continue to raise concerns about potential conflicts of interest. His annual disclosure filed in June showed income from various sources still flows back to him personally.

That filing, which appears to cover calendar year 2024, reported over $600 million in income from cryptocurrencies, golf properties, licensing deals and other ventures. It also highlighted how his involvement in cryptocurrency has significantly boosted his overall wealth.

According to a Reuters calculation report, Trump’s total assets were estimated at no less than $1.6 billion.

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With inputs from Reuters