U.S. President Donald Trump has reported a sweeping series of investments in municipal and corporate bonds worth at least $100 million since taking office in January. The details were disclosed in 33 pages of filings with the U.S. Office of Government Ethics (OGE), dated Aug. 12 and made public on Tuesday.
The reports outline 690 transactions, covering everything from debt issued by local authorities and school boards to corporate bonds from major American companies. While the exact amounts are not required under disclosure rules, the figures are based on the lower value ranges reported for each transaction.
Corporate and Municipal Bonds
According to the filings, Trump purchased between $500,000 and $1,000,000 worth of bonds from T-Mobile U.S., UnitedHealth, and Home Depot in early February. Later in the month, he added between $250,000 and $500,000 worth of Meta bonds, the parent company of Facebook and Instagram.
The president also invested in bonds from gas and water districts, hospital authorities, and other local government entities. Such bonds are typically used to finance infrastructure projects, refinance debt, or strengthen institutional budgets.
Conflicts and Exemptions
Critics have raised concerns about potential conflicts of interest, since some of the companies whose debt Trump now holds have been affected by his administration’s policies. Federal law exempts the president and vice president from many conflict-of-interest regulations that apply to other officials, but watchdogs argue the disclosures highlight gaps in oversight.
The nonprofit Citizens for Responsibility and Ethics in Washington (CREW) noted that every modern president prior to Trump chose to divest business interests before assuming office. Trump, by contrast, has maintained his holdings, fueling criticism from political rivals.
Trump’s net worth is currently estimated at $5.5 billion by Forbes, up sharply from $2.1 billion in 2020. The magazine has described the years between his two presidential terms as “the most lucrative post-presidency in American history,” due in part to ventures marketed directly to his political base.
Author’s Opinion
Trump’s disclosure shows compliance with ethics laws, but the optics remain troubling. When a sitting president holds debt in companies influenced by his own administration’s decisions, even the appearance of conflict of interest erodes public trust. Legal exemptions aside, the pattern breaks with precedent and invites questions about whether financial gain is being placed above impartial governance. Transparency alone cannot resolve that dilemma; what’s missing is accountability.
Featured image credit: Heute
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