Trump bought Nvidia, Apple shares on day he announced AI policy, sparking wealth growth debate

Donald Trump engaged in thousands of stock transactions last year, including concentrated purchases of major tech stocks on the very day his administration unveiled its core artificial intelligence policy. Financial disclosures also show he amassed wealth through cryptocurrency ventures and sales of merchandise bearing his name.

According to an analysis by Politico, Trump made substantial investments in companies like Broadcom, Meta, Amazon, Apple, Microsoft, and Nvidia on July 23 last year, the same day the White House announced its "American AI Initiative." Each of these purchases ranged from $1 million to $5 million. Many of these companies saw their stock prices surge following the policy announcement.

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I do not involve myself in my personal finances. I have funds that manage my money. I don't even talk to them.

Financial Times reported that Trump declared over 20,000 stock trades in the past year, a stark contrast to the 13 trades declared by President Joe Biden during his entire four-year term and the 517 trades made by Trump himself during his first term. The total value of his stock purchases last year is estimated between $461 million and $1.4 billion. The analysis indicated that while some of his investments tracked the broader market, others involved selective stock picking across eight accounts.

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The President and his family have not engaged in and will not engage in any conflict of interest activities.

Beyond stocks, Trump's income streams included $1.4 billion from cryptocurrency ventures and significant revenue from branded products. His "Trump Store" generated $4.7 million in licensing royalties. He also earned $208,000 from selling Trump-themed Bibles, $1.8 million from the "Save America" photo book, $67,000 from sneakers and perfumes, and $36,000 from limited-edition guitars. His wife, Melania Trump, also reported earnings of $10.7 million from a documentary, $6 million from NFTs, and $520,000 from a book.

Trump stated that he does not involve himself in his personal finances, saying, "I have funds that manage my money. I don't even talk to them." White House spokesperson Anna Kelly affirmed, "The President and his family have not engaged in and will not engage in any conflict of interest activities." However, Walter Shaub, former director of the U.S. Office of Government Ethics during the Obama administration, told the Financial Times that transferring investment discretion to a third-party firm does not eliminate conflicts of interest. He argued that the only way for public officials to avoid such controversies is to completely divest from the assets in question.

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Transferring investment discretion to a third-party financial institution does not eliminate conflicts of interest. The only way for public officials to avoid conflicts of interest controversies is to completely divest from the relevant financial interests.