President Trump Bought Over $250 Million in US Stocks Last Month. Which Ones?

Overview

President Donald Trump disclosed 517 securities transactions in August, totaling up to $273 million. This is significantly higher than the average annual trades of around 100, with trading being heavier in earlier months. The largest trade was $5 million to $25 million in Meta shares, alongside SpaceX notes worth $1 million to $5 million. Other notable buys included $1 million to $5 million each of Netflix and Chevron notes.

Disclosure and Conflict of Interest

No law makes a president sell his stocks, but they must be disclosed to the Office of Government Ethics within 45 days. The 2012 STOCK Act bars officials from trading on nonpublic government information, and a blind trust is optional. Trump's accounts are discretionary, meaning outside managers trade without his approval. A Trump Organization spokesperson described the setup in May, stating that outside managers receive no advance notice of trading activity and provide no input regarding investment decisions.

Trading Activity and History

Trading was heavier in earlier months, with June and July each topping 1,000 trades. One July filing showed the accounts bought MicroStrategy stock before an 83% rally. The president has backed a congressional trading ban that exempts the president himself. Despite this, the president's trading activities raise questions about potential conflicts of interest.