U.S. President Donald Trump has bought more than $100 million worth of bonds since returning to the White House in January of this year.
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The U.S. Office of Government Ethics has released a new report that shows President Trump made 690 transactions in financial markets since returning to power at the start of this year. The transactions include buying bonds, or debt, issued by local governments and U.S. corporations.
In all, it appears that President Trump has personally bought bonds totaling more than $100 million. By law, the U.S. president must disclose “reportable transactions” to the Office of Government Ethics. There are efforts within the U.S. Congress to prevent elected officials from transacting in the stock and bond market, which critics say amounts to self-dealing among politicians.
Lots of Bonds
The latest disclosure reveals that President Trump has bought bonds sold by a wide variety of entities, including U.S. municipal governments, as well as gas and water utilities, hospitals, and school boards. The president has also bought debt issued by a number of public companies, including T-Mobile (TMUS),
UnitedHealth Group (UNH), and Home Depot (HD).
President Trump also recently bought debt issued by technology giant Meta Platforms (META) worth as much as $500,000. Companies and governments issue bonds to raise capital to carry out projects, fuel their growth, refinance existing debt, and secure their financial stability. Investors who purchase the bonds, such as President Trump, receive interest payments over a set period of time.
Vanguard Total Bond Market ETF
Let’s take a look at demand for U.S. bonds through a popular exchange-traded fund (ETF) that tracks the debt market. As one can see in the chart below, the Vanguard Total Bond Market ETF (BND) has risen 4% so far in 2025.
