Especially during his second term, Donald Trump has been constantly accused of taking advantage of the presidency to enrich himself. And indeed - he and his family have concluded a huge number of deals with real estate, cryptocurrencies, bonds and stocks, ARD points out. What facts suggest that this is precisely about personal enrichment?
The special “Government Ethics Act“, adopted in the US in 1978, which was a reaction to the “Watergate“ affair, obliges presidents, vice presidents and other high-ranking state officials to declare their income publicly annually, the German public media notes. The data is controlled by the Office of Government Ethics.
Securities purchased for over $100 million
Current data from this office indicate that since January 21, 2025, Trump has made over 600 financial transactions and invested over $100 million in corporate, municipal and government securities. For example, he has acquired shares in Citigroup, Morgan Stanley, Meta, T-Mobile US, The Home Depot, UnitedHealth and many others.
However, his shareholdings are in a number of sectors that can benefit from the policy decisions of his government - for example, from the deregulation of the financial market. Trump's critics see this as a potential conflict of interest.
In addition, as the ARD points out, Trump has significant stakes in Microsoft, Blackstone and his own company, Trump Media & Technology Group. The US President also owns premium shares in leading technology and industrial companies such as Amazon, Alphabet, Tesla, Berkshire Hathaway, PepsiCo, JPMorgan Chase, Coca-Cola and Pfizer.
Trump and his unusual deals
The ARD notes that Trump's largest single positions are in Nvidia with $615,000 to $1.3 million and in Apple with $650,000 to $1.35 million, with the president's policy decisions directly affecting both companies.
Trump initially banned Nvidia from selling chips to China entirely, but recently relaxed this order to some extent. But in return, he required Nvidia to hand over 15% of its sales revenue to the government from China – an extremely unusual move, according to experts, unprecedented in US history.
In early August, Trump also announced tariffs on imported computer chips and semiconductors, which in some cases reached 100%. However, the Apple giant was spared because the company's CEO Tim Cook promised Trump to make an additional $100 billion in investments in the US. The very next day, Apple's share price rose by more than four percent.
Real estate business in the United Arab Emirates
Trump's recent real estate deals can also hardly be separated from his contacts and travels as president. His first major trip abroad was to Saudi Arabia, Qatar and the UAE – and it is in these countries that his family is implementing various projects.
In May, construction began on "Trump Tower Jeddah" - a 47-story luxury skyscraper on the Red Sea coast in Saudi Arabia. In addition, the family will build a luxury golf course in Qatar "in the style of Trump" as part of a project worth $ 5.5 billion, as well as an 80-story hotel in Dubai with the highest outdoor pool in the world.
Huge profits from cryptocurrencies
ARD writes that Trump also earns a lot from his investments in cryptocurrencies.
The American magazine „Forbes“ wrote in June that in the last nine months alone, Trump may have earned about one billion dollars from cryptocurrencies – from Trump Meme Coin and from his stake in World Liberty Financial.
In July, his holding company Trump Media & Technology announced that it had invested $2 billion in Bitcoin and other cryptocurrencies. It is no coincidence that Trump, who has declared himself a “cryptopresident“, is actively engaged in the deregulation of the sector.
Recently “The New Yorker“ wrote that Trump, his children and their partners have earned over $3.4 billion since the beginning of his first presidential term. It is almost certain that most of the deals, transactions and investments would not have been made if Trump had remained an ordinary businessman, the German public media outlet points out.
Trump's critics are particularly angered by the fact that, unlike previous US presidents, he does not transfer his property to a trust fund to manage it, but entrusts it to his children - in contradiction to the strict dividing line between private transactions and public office.
Trump is richer than ever
The question is whether Trump is abusing his position in an unprecedented way to enrich himself personally. The refusal to entrust his business to a trust fund certainly makes him vulnerable, writes ARD. And the accusation of conflict of interest does not seem unfounded.
Trump and his family reject these accusations. But it is a fact that according to "Forbes" magazine, President Donald Trump's fortune currently amounts to $ 5.5 billion - and this means that he is richer than ever before.
Author: Angela Göpfert ARD