Donald Trump has purchased more than $100 million worth of corporate, state, and municipal bonds since assuming office in January, according to newly released disclosures. The filings, made public by the US Office of Government Ethics, show over 600 financial transactions conducted the day after his second inauguration. The revelations shed light on the vast financial footprint of the billionaire president as scrutiny grows over his expanding portfolio.
Massive Buying Spree Documented
The disclosures reveal that Trump embarked on a buying spree starting January 21, just one day after his second inauguration. More than 600 financial purchases were recorded, though the exact sums for each remain undisclosed, listed only in broad ranges. The filings show Trump’s acquisitions concentrated heavily in bonds across various sectors, marking a significant expansion of his already diverse financial holdings.
Corporate Giants in Portfolio
Among the listed purchases are corporate bonds from some of the world’s largest financial and business institutions. These include Citigroup, Morgan Stanley, and Wells Fargo, along with major corporations like Meta, Qualcomm, Home Depot, T-Mobile USA, and UnitedHealth Group. The scope of these acquisitions highlights Trump’s interest in established firms that could potentially benefit from policies under his administration.
Municipal and State Bonds Added
The disclosures also show purchases of debt issued by states, counties, school districts, and gas districts across the US. These municipal and state bonds are traditionally considered safe, long-term investments. Trump’s decision to diversify into such holdings demonstrates a strategy that balances corporate exposure with steady public-sector debt instruments, a move analysts view as risk management.
White House Denies Conflict
A senior White House official stated that Trump has continued to file all legally required disclosures and stressed that neither he nor his family is involved in selecting or managing the bonds. Instead, a third-party financial institution oversees the portfolio. Federal ethics officials certified the filings as fully compliant with existing laws, though Trump’s overlapping business interests continue to raise questions among critics.
Analysts Call It Diversification
Experts suggest Trump’s purchases reflect cautious diversification rather than risk-taking. John Canavan, lead US analyst at Oxford Economics, 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 further noted the investments appear consistent with a strategy to stabilize wealth.
Wealth Boost from Crypto and Media
Separate disclosures highlight the broader picture of Trump’s growing fortune. His June filings reported more than $600 million in income during 2024, generated from cryptocurrencies, golf resorts, licensing deals, and Trump Media. The surge in crypto investments, in particular, has significantly boosted his net worth. Overall, Trump declared assets valued at no less than $1.6 billion, underscoring the scale of his financial empire.