Donald Trump has been on a multimillion-dollar bond-buying spree since taking the Republican presidential nomination in January 2016. This investment strategy has seen him acquire various forms of debt issued by local authorities, gas districts, and major American corporations. Her financial maneuvers have fanned the flames of conflict of interest debate. Trump’s political rivals have repeatedly issued this criticism while he’s been in office.
Trump’s bond purchases include something for everyone. He’s bought bonds issued by local U.S. municipalities, water utility districts, hospital authorities and school boards. Importantly, he’s placed big bets on the bonds of corporate stalwarts like AT&T, Pfizer and Ford. In early February 2020, Trump made big bets on the bond market. He purchased between $500,000 and $1,000,000 in bonds from T-Mobile U.S., United Health, and Home Depot. In late February, he doubled down on his strategy by purchasing bonds from Meta, the parent company of Facebook and Instagram. These bonds were often around $250,000-$500,000.
On August 12, Trump filed amended disclosures with the U.S. Office of Government Ethics (OGE). In these 690 entries, he meticulously described each transaction that has taken place since his inauguration. As instructed by the OGE, the president, vice president, and other high-level officials must report “reportable transactions” on a routine basis. However, unlike federal officials, Trump is not subject to any regulations that regulate egregious conflicts of interest. Yet, unlike every modern president before him, he chose not to divest his business interests before taking office.
At the end of his presidency in 2020, his net worth was estimated at $2.1 billion. His bond-buying activities create troubling questions about where his financial interests overlap with his responsibilities as president. The massive investments have triggered charges of conflicting interests. They can often provide powerful, public examples of where policy decisions benefit the bottom line of private companies.
Despite the criticisms, Trump’s bond acquisitions are indicative of a larger strategy. Most investors are shifting their asset classes—widening the spread between their investments in government-backed securities and corporate debt. Given his background in real estate and business, these financial maneuvers are pretty typical. Unbeknownst to him, he works in a world shaped by such strategies.
cash-to-contractor transactions Under any circumstances, this unusual scrutiny of these transactions go to show the current contention over ethics in political leadership. The spectacle of Trump Trump consistently and actively plays up his role as a public figure. His self-dealing will be examined under a microscope during and after his presidency.