Trump’s stock trades spark conflict concerns after Nvidia, Oracle and Boeing buys – Charm

Unlike previous presidents, including Barack Obama and Joe Biden, who avoided trading stocks while in office, President Donald Trump has been highly active in the market.

Compared with several hundred investments at the start of his term, Trump carried out more than 3,700 trades in the first quarter, according to documents released by the federal Office of Government Ethics. The transactions included large-scale purchases of shares in tech giants, including Nvidia and Dell. At the same time, Trump’s holdings in Microsoft and Amazon were reduced during the quarter.

טראמפ במסיבת העיתונאים על התקיפה בונצואלה

According to the documents filed with regulators, the president bought 2,346 securities of companies and sold 1,296 in the first quarter. The filing does not specify whether they were stocks or bonds, and the total value of the reported transactions falls in a range of $220 million to $750 million. The broad range is all that regulators require in such disclosures.

Analysts who reviewed the documents described Trump’s investment strategy as “buying the dip,” meaning the president used the first quarter to accumulate shares in software companies such as Oracle, Workday and ServiceNow, whose stocks fell in February — a move that proved astute given the sector’s recent recovery. Other companies in which transactions were carried out include Tesla, Apple, Meta, Visa, Citigroup, Boeing, Qualcomm and GE Aerospace. The CEOs or other senior executives of these companies accompanied the president’s delegation to Beijing last week and attended his summit meeting with Chinese President Xi Jinping.

Six Intel transactions

Although the Trump Organization said investment decisions are made by an outside party and that Trump is not involved in the process, some of the transactions raise concerns about conflicts of interest because of their timing or Trump’s proximity to various CEOs.

One of the most notable investments recorded in the quarter was in Nvidia, whose CEO Jensen Huang is considered close to Trump and was personally invited by him to join the trip to China. The documents revealed 15 transactions related to the chipmaker during the period in question. Trump’s financial advisers bought at least $1.75 million worth of Nvidia shares during the quarter, including at least $500,000 worth on January 6. A week later, the administration approved the company’s export of H200 chips to China.

Alongside Nvidia, the group of the most expensive transactions, estimated at between $1 million and $5 million, also includes Apple, Workday, Uber and Costco. Conversely, this was the first time significant sales were made in the portfolio since Trump returned to the White House in January 2025, including the sale of shares worth $5 million to $25 million each in Meta, Amazon and Microsoft.

Another prominent company whose shares were purchased was Intel, with six transactions. The chipmaker’s share price has surged more than 200% this year, and the administration last year acquired an ownership stake of nearly 10% in the company. Boeing saw seven transactions, including the purchase of shares worth $1 million to $5 million, in timing that raises questions: The White House announced over the weekend that China would purchase 200 of the company’s aircraft.

Oracle, whose founder Larry Ellison is one of the president’s biggest supporters, also figures prominently in the documents, with more than 12 transactions, including the sale of at least $1 million worth of shares on January 6. About two weeks later, it was revealed that the company would hold a stake in TikTok’s U.S. operations under an arrangement formulated by the administration.

Paramount Studios, owned by Ellison’s son, and Warner Bros., the company it is acquiring for $110 billion, also appear in the documents. The fate of that acquisition now lies with regulators. Trump also carried out 17 transactions in Netflix shares, Paramount’s main rival in the battle to acquire Warner.

Trump bought hundreds of thousands of dollars’ worth of shares in defense company Palantir shortly before praising it in a post on Truth Social. “Palantir has proven that it has excellent capabilities and equipment for fighting wars,” he wrote.

‘A disaster for national security’

The disclosure of the investment portfolios drew criticism. Democratic Sen. Elizabeth Warren focused mainly on the investment in Nvidia, the world’s most valuable company. She accused Trump of lobbying on the company’s behalf during his meeting with China’s president. “The president’s corruption is a disaster for national security,” she said.

The Trump Organization, however, said his investments are managed independently by several financial institutions. “President Trump, his family members and the Trump Organization do not participate in the selection, direction or approval of specific investments,” it said in response. “They do not receive advance notice of trading activity and do not receive information regarding investment decisions or portfolio management.”

The organization added that the transactions and portfolio rebalancing are carried out through “an automated investment process and systems operated by those institutions.” The president’s son, Eric Trump, also stressed on X that the investments are made by an outside fund and that “the claim that specific stocks are sold or purchased at the direction of a family member is fundamentally false.”

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Six Intel transactions

‘A disaster for national security’

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