Trump adds $82 million in bonds to portfolio in latest disclosure period

U.S. President Donald Trump purchased at least $82 million in corporate and municipal bonds between late August and early October, according to financial disclosure forms released on November 15.

The filings, made public by the U.S. Office of Government Ethics, show that Trump conducted more than 175 financial transactions from August 28 to October 2. While the disclosures do not provide precise amounts for each purchase — only broad value ranges — Reuters’ review of the filings indicates that the maximum potential total of the bond acquisitions exceeded $337 million.

Most of the newly reported assets consist of bonds issued by municipalities, states, counties, school districts, and other public-sector–linked entities. Trump also expanded his holdings in several industries that have already benefited, or are currently benefiting, from policy shifts under his administration, including sectors tied to financial deregulation.

His newly acquired corporate bonds include debt issued by chipmakers such as Broadcom and Qualcomm; major technology firms like Meta Platforms; leading retailers including Home Depot and CVS Health; and major Wall Street banks such as Goldman Sachs and Morgan Stanley. Purchases of investment bank debt in late August also included bonds from JP Morgan.

On November 14, Trump called on the U.S. Justice Department to investigate JP Morgan over its past relationship with the late financier and convicted sex offender Jeffrey Epstein. The bank has stated it regrets its historical ties to Epstein and denies enabling any criminal activity.

Trump’s transactions also included Intel bonds — acquired shortly after the U.S. government, under Trump’s direction, took a stake in the semiconductor company.

The administration has previously maintained that Trump continues to meet all legal reporting requirements regarding his investments, while emphasizing that neither he nor his family is involved in managing the portfolio, which is overseen by an independent financial institution. Trump, who built his fortune in real estate prior to his political career, has said he placed his companies into a trust administered by his children.

A separate disclosure filed in August showed that Trump had purchased more than $100 million in bonds since returning to the presidency on January 20. His annual disclosure, submitted in June, indicated that income from his business ventures still ultimately flows to him, raising ongoing concerns about potential conflicts of interest.

That annual filing — which appeared to cover the 2024 calendar year — reported over $600 million in income from cryptocurrencies, golf resorts, licensing deals, and other business activities. It also showed that Trump’s heightened involvement in the crypto sector has significantly increased his overall wealth.

According to a Reuters estimate at the time, the President’s June disclosure listed at least $1.6 billion in assets.

By Tamilla Hasanova