President Donald Trump bought stock in more than 20 companies and then, days later, promoted those same firms to his millions of Truth Social followers, a CNN investigation found.
In one case, Trump's accounts purchased between $200,000 and $500,000 in Nvidia shares in early April 2025. Days later, he celebrated the chipmaker's U.S. expansion on Truth Social and vowed that "all necessary permits will be expedited and quickly delivered." In all, CNN identified at least 44 purchases across 21 companies made within a week before he posted a flattering message about the firm, its executives or its products — from Apple and Tesla to clothing retailer American Eagle.
CNN found no evidence that Trump posts about companies to pump his own holdings, and noted the vast majority of his trades weren't followed by related posts. His trades are executed by outside money managers, the White House insisted, and Trump cannot direct them.
Unlike past presidents, Trump has not placed his assets in a blind trust, meaning he can see what he owns. His portfolio has rallied after a favorable court ruling.
Vice President JD Vance has said officials shouldn't trade individual stocks. Presidents are exempt from the conflict-of-interest law that binds other federal employees.
The White House denied any impropriety, with spokeswoman Anna Kelly saying "there are no conflicts of interest" and that Trump "only acts in the best interests of the American public."
Government watchdogs, however, aren't so sure. Gary Kalman of Transparency International US noted that Jimmy Carter once put his peanut farm in a blind trust.
"The fact that we have exempted the one person who can't actually recuse themselves from a conflict of interest should be a huge red flag for people," Kalman said. "We need to close this gap."