US President Donald Trump has disclosed millions of dollars' worth of stock market transactions executed during July, spanning companies from Elon Musk's SpaceX to major technology and artificial intelligence firms including Microsoft.
Official filings reveal that between $6.5m (£4.8m) and $31m worth of Microsoft shares were sold on Trump's behalf during the month, while purchases of between $165,000 and $400,000 were also recorded. According to CNBC's analysis, the total volume of July trading activity reached approximately $79 million to $270 million across 1,156 securities transactions.
The filing documented extensive trading activity spanning more than 1,000 transactions in artificial intelligence company Nvidia and software firm Palantir, which serves as a contractor to the US defence department and Immigration and Customs Enforcement (ICE). Additional large trades were recorded in Amazon and Meta Platforms shares, according to reporting on the disclosure.
A White House spokesperson stated that Trump's stock and bond portfolio operates under independent management by third-party professionals. The spokesperson said:
Neither President Trump nor any member of his family has any ability to direct, influence or provide input regarding how the portfolio is invested or when investments are bought or sold. There are no conflicts of interest.
Thousands of dollars in SpaceX shares—the rocket, satellite and artificial intelligence enterprise headed by Musk, who previously led the US Department of Government Efficiency—were bought and sold through Trump's account. SpaceX completed its listing on the Nasdaq stock market in June, with share prices fluctuating considerably through July and August before recovering to trade 14% above its initial public offering price.
Tesla, Musk's electric vehicle manufacturer, also featured in the trading activity, with shares purchased and sold on Trump's behalf during the reporting period.
Scale of Trading Activity
According to CNBC's breakdown, Trump's July transactions included both purchases totaling at least $43.6 million and sales reaching at least $35.6 million. This represents a continuation of unusually high trading volumes; Bloomberg's analysis found that Trump executed nearly 28,700 trades between his second inauguration and the end of June, averaging approximately 80 trades per market day. Trump remains the only US president this century to actively disclose individual stock trading at this scale.
Portfolio Management Structure
The White House has consistently maintained that Trump exercises no direct control over investment decisions. The portfolio management arrangement was established to address potential conflicts of interest, with all buying and selling decisions made by independent financial professionals rather than by Trump or his family members.
Disclosure Timeline
The July filing was received by the US Office of Government Ethics on September 14 and published on September 22. Trump has previously disclosed thousands of stock market transactions since returning to the White House in January of the previous year, with June alone showing 1,051 transactions valued between $78.1 million and $263.1 million.
What Comes Next
Trump's subsequent monthly financial disclosures will follow the same 45-day reporting window for covered trades, continuing the pattern of transparency regarding his portfolio activity established since his return to office.
