Trump buys $82 million worth of corporate and municipal bonds

President Donald Trump has continued to buy municipal and corporate bonds this fall, including bonds from companies affected by his administration’s policies. New revelations posted Saturday by the U.S. Office of Government Ethics show that Trump’s purchases of at least $82 million included bonds from Netflix, UnitedHealth Group, Boeing, Meta Platforms, Home Depot, Broadcom and Intel, in which the U.S. government acquired a stake under his administration. He also bought municipal bonds from American cities and local school districts, utilities and hospitals. The revelations dated October 17 and 20 and were released by OGE after the end of the government shutdown.

The reports, which all federal elected officials and appointees who engage in trading are required to file, do not specify exact amounts or prices because they only require a broad range of transactions involving stocks, bonds, commodity futures and other securities. Trump reported no sales. In August, he reported 690 transactions, totaling at least $103.7 million in bond purchases.

When the August report was released, a senior White House official said neither Trump nor any of his family members made the investment decisions. Independent financial managers bought the bonds using programs that replicate recognized indexes when making investments, the official said, adding that OGE signed the documents.

Unlike his predecessors, Trump has not divested his assets or placed them in a blind trust with an independent supervisor. His sprawling business empire is managed by two of his sons and operates in several areas that intersect with presidential policy.

On Intel, Trump struck a deal in August that gives the U.S. government a nearly 10% stake in the company, an unusual market intervention that the administration said was necessary to protect domestic chip production. Intel has said the government would be a passive owner, with no board seat or other governance or information rights. The $8.9 billion investment is partly funded by the American Chips and Science Act passed under former President Joe Biden.