US lawmakers want to know: Who’s calling the shots in the president’s multi-billion-dollar stock-trading spree?
In a letter sent to President Donald Trump on Wednesday, US Senator Elizabeth Warren and US Representative Robert Garcia, who is the head of the House Committee on Oversight and Government Reform, aired concerns about Trump’s recent trading activity. In his latest annual financial disclosure, the president revealed that he executed over 21,000 trades in his personal portfolio last year, far outpacing the trading activity of any other president, according to an analysis from the financial data firm Unusual Whales.
Trump’s trades generated more than $2 billion in income for the 2025 year, filings show, adding to concerns about conflicts of interest. The president has traded stocks that he posted about on social media, mentioned at public events, and that are tied to deals with the federal government.
The total amount Trump traded may be even higher than what has been listed in the public filings, Warren and Garcia said, since the public disclosures don’t include transactions under $1,000.
“The sheer volume of stock trading by a sitting president is unprecedented. You—or the entities responsible for your accounts—made an average of approximately 50 trades every day markets were open during the first quarter of 2026,” the letter said.
The lawmakers highlighted several examples of stock purchases Trump made that either preceded or followed “favorable” statements or government announcements. Here are several notable investments that were outlined:
The lawmakers also included a list of questions for Trump to answer, prodding the president to list his investment managers, third parties involved with his trading accounts, and to describe the extent of Trump’s and his family’s involvement in selecting his investment team.
“Every other recent president has sold their individual stocks before assuming office, put their money in broadly diversified funds, or set up a true blind trust,” the letter said, later pointing to how the Trump Organization and some of Trump’s personal assets are being controlled by his sons.
Speaking to reporters in July, Trump said his wealth was controlled by outside funds and that he had no contact with those investing his money. The White House did not immediately respond to a request for comment sent by Business Insider.
