President Donald Trump appears to have made a series of strategic financial moves while in office. Newly released disclosures show he purchased at least $82 million in corporate and municipal bonds from late August to early October, including fresh investments in sectors that stand to benefit from his own policies.
According to the forms released by the U.S. Office of Government Ethics, Trump carried out more than 175 financial purchases from Aug. 28 through Oct. 2. The disclosures, made under a 1978 transparency law called the Ethics in Government Act, do not list exact amounts for each purchase, only providing a broad range.
Between late August and early October 2025, President Trump disclosed that he purchased at least $82 million in corporate and municipal bonds, according to filings with the U.S. Office of Government Ethics. The disclosures show over 175 separate transactions, but because the forms report only price ranges, the total value could be as high as $337 million. Many of the bonds are municipal securities from states, counties, school districts, and public utilities, which are generally lower-risk and used to fund local projects.
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In the U.S., municipal bonds and corporate bonds are two common types of debt securities. Municipal bonds (munis) are issued by state and local governments to fund public projects such as schools, highways, and hospitals. Most municipal bonds are tax-exempt at the federal level, and often at the state and local levels if you invest in your home state. However, some muni bonds, such as private activity bonds, are taxable, and the tax-exempt status has been politically debated in 2025. They are generally considered lower-risk because they are backed by government revenue or taxing power.
Corporate bonds are issued by companies to raise capital for expansion, acquisitions, or operations. They typically offer higher interest rates than municipal bonds to compensate for higher credit risk, since repayment depends on the company’s financial health. Interest income from corporate bonds is taxable at both federal and state levels. Both bond types provide investors with fixed income and portfolio diversification.
Corporate bonds acquired by Trump include offerings from chipmakers such as Broadcom and Qualcomm; tech companies such as Meta Platforms; retailers such as Home Depot and CVS Health; and Wall Street banks such as Goldman Sachs and Morgan Stanley.
These purchases have drawn attention because some of the issuers could potentially benefit from federal policies, raising conflict-of-interest concerns among analysts and ethics observers. While municipal bonds are generally lower-risk and tax-advantaged, corporate bonds carry higher credit risk but offer higher yields.
The large volume and range of these transactions highlight a significant fixed-income portfolio, blending municipal and corporate holdings. Observers note that the scale and timing of the purchases make them unusual for a sitting president, attracting scrutiny for both financial strategy and ethics.