New government filings reveal that President Donald Trump has invested heavily in bonds during his time in the White House, purchasing more than US $100 million (S\$128 million) worth
since taking office in January.
According to financial disclosures made public on Aug 19, the president carried out over 600 transactions since Jan 21 — the day after he was sworn in for his second term. The documents, submitted to the U.S. Office of Government Ethics earlier this month, don’t provide exact figures for each deal, only broad value ranges.
Trump’s purchases span a wide mix of corporate, municipal, and state-issued bonds. On the corporate side, he bought into debt from Citigroup, Morgan Stanley, Wells Fargo, Meta, Qualcomm, Home Depot, T-Mobile USA, and UnitedHealth Group. He also invested in bonds from cities, counties, school districts, and utility providers such as gas authorities.
Many of these sectors could see gains under policies favored by Trump’s administration, including financial deregulation — a detail that may spark questions about potential conflicts of interest.
The White House did not immediately comment on the filings when asked on Aug 20.
This isn’t the first time Trump’s finances have drawn scrutiny. Although he has said his businesses are in a trust run by his children, critics note that his annual disclosure filed in June showed he still personally benefits from income tied to his empire. That report detailed over US $600 million in revenue in 2024, much of it coming from real estate, golf resorts, licensing deals, and a growing footprint in cryptocurrency.
All told, Trump disclosed assets worth at least US$1.6 billion, according to calculations by Reuters at the time — cementing his position as one of the wealthiest individuals ever to hold the presidency. Photo by Gage Skidmore from Peoria, AZ, United States of America, Wikimedia commons.
