Donald Trump Bought A Bunch Of Tech Stock The Same Day He Announced His AI Action Plan
Engadget • • business
Key Points:
- The New York Times revealed that Donald Trump's first year of his second presidential term was the most personally profitable of any president, earning over $2 billion, largely from cryptocurrency sales and investments in big tech companies.
- On July 23, Trump purchased up to $5 million in stocks of Amazon, Apple, Meta, Microsoft, NVIDIA, and Broadcom, coinciding with the White House's release of its AI Action Plan.
- Although Trump’s family brokerage accounts made over 3,600 trades and claim no direct control over trading decisions, Trump has made well-timed investments, such as buying Dell stock before a major defense contract was awarded.
- Trump failed to disclose several stock purchases as legally required, resulting in a small fine, but future violations could face more severe consequences given his January 2025 comments supporting stricter penalties for repeat offenders.
