U.S. President Donald Trump has spent millions buying bonds since taking office in January. He has invested in debt from local governments, gas districts, and major U.S. companies.
In filings with the U.S. Office of Government Ethics, or OGE, dated Aug. 12, Trump detailed 690 transactions made since he became president. These documents were made public on Tuesday.
According to CNBC calculations, the total value of these purchases is at least $100 million, using the lower value listed for each transaction.
By law, the president, vice president, and certain other officials must report “reportable transactions” to the OGE. They do not have to disclose the exact amount of money involved.
The filings show that this year, Trump bought bonds from various sources, including local governments, gas and water districts, hospital authorities, and school boards.
Trump also bought bonds from well-known companies. Early in February, he purchased between $500,000 and $1,000,000 worth of bonds from T-Mobile U.S., UnitedHealth, and Home Depot. Later that month, he bought $250,000 to $500,000 worth of debt from Meta, the parent company of Facebook and Instagram.
The White House did not respond immediately to a CNBC request for comment.
Bonds are issued by companies and governments to raise money for projects, pay off debt, or support financial stability. Investors who buy bonds get interest payments, either fixed or variable, over a set period and are repaid the full amount of the loan at the end.
Some of the companies whose debt Trump now owns have been directly affected by his policies or business decisions.
Trump’s net worth is $5.5 billion, according to Forbes. In 2020, the last year of his first term, he was worth $2.1 billion. Forbes called the years between his two terms “the most lucrative post-presidency in American history” due to ventures marketed to his supporters.
Trump’s political opponents have accused him of potential conflicts of interest during his presidency. Federal law exempts the president and vice president from some rules about conflicts of interest.
However, the nonprofit group Citizens for Responsibility and Ethics in Washington notes that every modern president before Trump chose to sell off their business interests before taking office.
