{"id":334938,"date":"2026-08-15T08:34:47","date_gmt":"2026-08-15T08:34:47","guid":{"rendered":"https:\/\/usa.timesofnews.com\/breaking-news\/political\/democrats-demand-trump-reveal-stock-managers-explain-suspicious-trades.html"},"modified":"2026-08-15T08:34:47","modified_gmt":"2026-08-15T08:34:47","slug":"democrats-demand-trump-reveal-stock-managers-explain-suspicious-trades","status":"publish","type":"post","link":"https:\/\/usa.timesofnews.com\/breaking-news\/political\/democrats-demand-trump-reveal-stock-managers-explain-suspicious-trades.html","title":{"rendered":"Democrats demand Trump reveal stock managers, explain suspicious trades"},"content":{"rendered":"<p>Trump has defended the staggering number of trades made in his name \u2014 more than 21,000 in 2025 alone, according to an analysis of his 927-page annual financial disclosure \u2014 by <a href=\"javascript:void(0)\">insisting that he has no contact<\/a> with the institutions that run his money.<\/p>\n<p>CNBC previously linked <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-7\">JPMorgan Chase<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>,\u00a0<span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-8\">Charles Schwab<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>,\u00a0<span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\">UBS<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>\u00a0and\u00a0<a href=\"javascript:void(0)\">Stephens Inc<\/a>. to at least <a href=\"javascript:void(0)\">four of the eight investment accounts<\/a> listed in Trump&#8217;s 2025 disclosure. A full list has not been disclosed, and details about how outside firms handle Trump&#8217;s portfolio \u2014 and how and when they make decisions about what to buy and sell \u2014 remain unclear.<\/p>\n<p>&#8220;We have funds that run my money,&#8221; <a href=\"javascript:void(0)\">Trump said in July<\/a>. &#8220;They invest my money, and I don&#8217;t talk to them. I never \u2014 I don&#8217;t even speak to them.&#8221;<\/p>\n<p>Wednesday&#8217;s letter from Warren and Garcia asked Trump to list &#8220;all third-party institutions and managers that direct your trades&#8221; and explain how they were selected, what mandate they were given and what investment processes they use, among other information.<\/p>\n<p>The White House has flatly denied that Trump&#8217;s financial disclosures, which by some estimates show he had more than <a href=\"javascript:void(0)\">$2.2 billion<\/a> in revenue last year, raise any conflicts of interest.<\/p>\n<p>Trump has placed much of his wealth in a <a href=\"javascript:void(0)\">revocable trust<\/a> bearing his own name, with his eldest son <a href=\"javascript:void(0)\">Donald Trump Jr.<\/a> named as the sole trustee. That arrangement gives Trump more control than if he were to set up a blind trust, as other recent presidents have done.<\/p>\n<p>Eric Trump, another of the president&#8217;s sons who serves as executive vice president of the Trump Organization alongside Trump Jr., has pushed back on criticism of his father&#8217;s financial arrangement.<\/p>\n<p>After Trump&#8217;s disclosure covering the first three months of 2026, Eric Trump wrote on X that the president&#8217;s holdings &#8220;are maintained exclusively in fully discretionary accounts managed by independent third-party financial institutions.&#8221;<\/p>\n<p>Trump&#8217;s investments are allocated through &#8220;<a href=\"javascript:void(0)\">automated, model-based portfolios and direct indexing strategies<\/a>&#8221; that neither he nor his family or its business are involved in, his son wrote. <\/p>\n<p><span><\/span><\/p>\n<p>Days earlier, Eric Trump <a href=\"javascript:void(0)\">wrote <\/a>that &#8220;all of our assets are invested in a blind trust&#8221; in response to a post on X by Warren slamming Trump for disclosing <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-18\">Nvidia<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> stock purchases after that company&#8217;s CEO, Jensen Huang, joined the president on a trip to China.<\/p>\n<p>&#8220;To suggest that individual stocks are being bought or sold, at the discretion of any member of the Trump family, would be a lie and blatantly false,&#8221; Eric Trump replied to Warren, who wrote that the president&#8217;s &#8220;corruption is a national security disaster.&#8221;<\/p>\n<p>The New York Times has <a href=\"javascript:void(0)\">reported<\/a> there is no indication of the existence of a blind trust, which would require Trump to have no knowledge of what is in the portfolio. <\/p>\n<p>Warren and Garcia in their letter this week also questioned Eric Trump&#8217;s claim about a blind trust, writing to the president, &#8220;you yourself signed a financial disclosure certifying your awareness of thousands of individual stock transactions.&#8221;<\/p>\n<p>In a statement to CNBC on Thursday morning, White House spokeswoman Anna Kelly again denied any conflicts of interest and accused Warren and Garcia of echoing &#8220;the same, tired narrative that Democrats have pushed against President Trump, his family, and his administration for a decade.&#8221;<\/p>\n<p>The Trump Organization in a statement later Thursday called the letter &#8220;just another baseless political stunt&#8221; by the Democrats, whom it accused of trying to mislead voters ahead of the midterms.<\/p>\n<p>The company also pointed to a recent <a href=\"javascript:void(0)\">Bloomberg interview<\/a> with Charles Schwab CEO Rick Wurster, who said the investing strategies are being run on a &#8220;discretionary basis by professional money managers with no influence from the account holder.&#8221; <\/p>\n<p>&#8220;The level of trading in them is very high because they&#8217;re constantly trying to pick up any loss in the security and replace it with another one,&#8221; Wurster said. &#8220;So I think some of the reporting that tries to link this to nefarious behavior I think is just misplaced.&#8221;<\/p>\n<p>Article source: https:\/\/www.cnbc.com\/2026\/08\/13\/trump-stock-trades-warren-garcia.html<\/a>\r\n<\/p>","protected":false},"excerpt":{"rendered":"<p>Trump has defended the staggering number of trades made in his name \u2014 more than 21,000 in 2025 alone, according to an analysis of his 927-page annual financial disclosure \u2014 by insisting that he has no contact with the institutions that run his money. CNBC previously linked JPMorgan Chase,\u00a0Charles Schwab,\u00a0UBS\u00a0and\u00a0Stephens Inc. to at least four [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[84],"class_list":["post-334938","post","type-post","status-publish","format-standard","hentry","category-political","tag-political"],"_links":{"self":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/334938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/comments?post=334938"}],"version-history":[{"count":0,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/334938\/revisions"}],"wp:attachment":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/media?parent=334938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/categories?post=334938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/tags?post=334938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}