U.S. President Donald Trump's investments in municipal and corporate bonds include bonds of companies affected by his administration's policies.
According to Zhitong Finance, as of December 2025, U.S. President Donald Trump’s investments in municipal and corporate bonds include bonds from companies affected by his administration's policies. These bonds totaled at least $51 million in purchases.
The latest disclosure document released by the White House on Thursday showed that Trump’s purchases included bonds from Netflix (NFLX.US), CoreWeave (CRWV.US), General Motors (GM.US), Boeing (BA.US), Occidental Petroleum (OXY.US), and United Rentals (URI.US). He also purchased municipal bonds issued by various cities, local school districts, utilities, and hospitals across the United States.
Under relevant regulations, all federal elected and appointed officials involved in trading are required to submit this report. Notably, the report does not specify exact amounts or prices – only ranges for stock, bond, commodity futures, and other securities transactions need to be disclosed. For example, in Trump’s submitted report, between November 14 and December 29 last year, his trading record showed a total of 189 buy transactions and two sell transactions, with the total value of the sell transactions reaching at least $1.3 million.
The disclosure document was dated January 14 and approved by an ethics official at the White House the following day. Trump also amended his previous report, adjusting the values of four transactions.
These investments are just the latest example of Trump’s continued accumulation of wealth during his term. He frequently intertwines personal business with public duties, raising questions about potential conflicts of interest. The White House did not immediately respond to requests for comment.
In August 2025, Trump reported completing 690 transactions totaling at least $104 million since returning to the White House in January 2025; further transactions disclosed in November and December amounted to $106 million, including three additional sell transactions worth a total of $2 million.
At the time of the August report, a senior White House official stated that neither Trump nor his family were involved in investment decisions. The official noted that independent financial managers used investment programs replicating recognized indices to purchase bonds, adding that the Office of Government Ethics had approved the filing.
According to a White House official, subsequent reports followed the same pattern.
In stark contrast to previous presidents, Trump has neither divested his personal assets nor transferred them into a blind trust managed by an independent trustee. The vast business empire of this commercial magnate is managed by his two sons, and there are multiple areas of overlap between the company’s business scope and policy areas within the president’s purview.
During visits to foreign capitals, Trump actively promoted Boeing (BA.US) aircraft and highlighted the company’s successful completion of several aircraft sales orders with international carriers such as Qatar Airways and Japan Airlines.
During his visit to Ford's (F.US) plant in Detroit on Tuesday, Trump specifically highlighted the strategic moves of its rival General Motors (GM.US) – the company plans to relocate the production lines of two best-selling models, the Chevrolet Blazer and Equinox, from Mexico back to the United States. He also noted that this production shift decision precisely demonstrates the substantial effectiveness of his tariff policy in revitalizing American manufacturing.
In addition, Netflix is currently in fierce competition with Paramount Global (PSKY.US) over Warner Bros. (WBD.US). Regardless of which party prevails, it will pose a significant antitrust challenge to the Trump administration.
Trump explicitly stated that he plans to personally review the acquisition case, regardless of which party ultimately succeeds. The Hollywood industry is closely monitoring his actions, attempting to discern his clear stance on this landmark studio battle.
