Since returning to the White House, President Donald Trump has been an active buyer in the bond market, picking up hundreds of securities tied to both corporate and municipal issuers.
A recent financial disclosure filed with the Office of Government Ethics shows that Trump executed 690 bond purchases worth at least $103.7 million between his inauguration and early August. His very first transaction was recorded the day after he took office.
The report notes that Trump spread his investments across a wide range of issuers, from local governments, school districts, airport authorities, and gas utilities to some of America’s largest corporations. On February 10, he acquired corporate debt tranches of no less than $500,000 each from Qualcomm, Home Depot, and T-Mobile, followed later in the month by at least $250,000 worth of Meta Platforms bonds.
While the filing doesn’t specify precise transaction sizes or prices—only broad ranges are required under federal reporting rules—it makes clear that Trump has not reported any sales.
The disclosures highlight how Trump, whose fortune Bloomberg estimates at $6.4 billion, continues to build personal wealth while serving as president. Unlike his predecessors, he chose not to place his holdings into a blind trust or divest from potential conflicts of interest. Instead, his business empire remains under the management of his sons, with ventures that overlap in areas affected by federal policy decisions.
Trump has also engaged with business leaders directly impacted by his policies, including executives dealing with tariff-driven supply chain disruptions and technology firms facing regulatory shifts.
The White House declined to comment on the 33-page report, dated August 12.
This latest filing follows a 2024 disclosure in which Trump revealed hundreds of bond holdings across his personal accounts, in addition to assets tied to his business ventures. These include Mar-a-Lago, Trump Media & Technology Group, and cryptocurrency projects, which have together added more than $620 million to his net worth in recent months, according to Bloomberg’s Billionaires Index.
Federal ethics law does not require presidents to liquidate assets that could pose conflicts of interest. However, every president since the law was enacted in 1978 has done so—until Trump.