Trump reveals millions in tech and AI shares: Here’s what to know
Trump disclosed millions of dollars worth of share trades in big tech and AI
US President Donald Trump has revealed millions of dollars’ worth of stock transactions involving major technology and artificial intelligence companies. He has revealed millions of dollars worth of stock market trades in July covering firms from Elon Musk’s SpaceX to tech and AI gains such as Microsoft.
According to legal documents, between $6.5m and $31m share value in Microsoft shares were sold on behalf of Trump while filings show purchases of between $165,000 and $400,000. A White House spokesperson said Trump’s outsourced investment management is independently managed by third parties.
The spokesperson told the BBC: “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.”
According to the filing, substantial equity trading also took place and was executed in SpaceX, a satellite and AI company led by Musk which was once in charge of the US Department of Government Efficiency. Its share prices have dropped since declining in July and August but it is currently trading 14% trading at its stock market debut.
Trump has divulged extensive historical equity transactions since returning to the White House in January last year.
The disclosure of the July trades made on behalf of Trump coincided with a renewed focus on AI safety. Trump has cautioned that self-imposed restriction risks the US falling behind China in technological development. Trump has earlier argued that the US must come out on top in the AI race.
Nonetheless, he is actively seeking to remove or reduce existing government rules contrasting with many of those gathered at the UN including Secretary-General Antonio Guterres who strongly defend multifaceted causes.
