US President Donald Trump disclosed that he invested in municipal and corporate bonds through December, including debt issued by companies potentially influenced by policies under his administration.
Altogether, the disclosed bond purchases amounted to at least $51 million.
According to a new financial disclosure released by the White House on Thursday, Trump’s investments included bonds from companies such as Netflix, CoreWeave, General Motors, Boeing, Occidental Petroleum and United Rentals. He also bought municipal debt issued by US cities, local school districts, utilities and hospitals.
The filing, which is mandatory for all federal elected officials and appointees who engage in securities trading, does not provide precise transaction values or purchase prices. Instead, it reports transactions within broad dollar ranges for assets including stocks, bonds, commodity futures and other securities. Between Nov. 14 and Dec. 29 of last year, Trump reported 189 purchases and two sales, with the sales totaling at least $1.3 million.
The disclosure was dated Jan. 14 and received approval from a White House ethics official the following day. Trump also revised a previously submitted report, adjusting the reported value of four transactions.
These investments represent another example of Trump continuing to expand his personal wealth while in office. Throughout his presidency, he has frequently blended private business interests with official responsibilities, raising ongoing concerns about potential conflicts of interest.
The White House did not immediately respond to a request for comment.
In August, Trump disclosed 690 transactions completed since his return to the White House in January 2025, with a combined value of at least $104 million. Additional transactions reported in November and December totaled $106 million, including three further sales worth about $2 million.
When the August disclosure was released, a senior White House official said that neither Trump nor his family members were directly involved in making investment decisions. Instead, independent financial managers executed the bond purchases using strategies designed to track recognized market indexes. The Office of Government Ethics approved the filings, the official said.
According to another White House official, the same arrangement applied to the transactions disclosed in subsequent reports.
Unlike previous presidents, Trump did not divest his holdings or place them into a blind trust overseen by an independent manager. His extensive business empire remains under the control of two of his sons and operates across industries that overlap with areas of presidential policymaking.
Trump has publicly promoted Boeing aircraft during overseas visits and highlighted the company’s plane sales to airlines in countries including Qatar and Japan.
During a visit to a Ford Motor Co. plant in Detroit on Tuesday, Trump pointed to rival General Motors’ decision to relocate production of the Chevrolet Blazer and Equinox from Mexico back to the United States. He said the move demonstrated the effectiveness of his tariff policies in strengthening domestic manufacturing.
Meanwhile, Netflix is engaged in a high-profile battle with Paramount Skydance Corp. over Warner Bros. Discovery Inc., setting up a significant antitrust challenge for Trump’s administration regardless of the outcome. Trump has said he intends to take a personal role in reviewing the winning deal, and the entertainment industry has been closely watching for signals of how the president views the fight for control of the storied Hollywood studio.
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