Get Quartz in your inbox

Free daily briefing on global business news.

Trump is holding up to $1 billion in municipal bonds tied to cities and hospitals his policies affect

The president's accounts have made more than 1,000 bond purchases from local governments, hospitals, and utilities — many directly touched by his administration's decisions

US President Donald Trump speaks in the Oval Office of the White House in Washington, DC on July 14, 2025. (Andrew Caballero-Reynolds/AFP via Getty Images)

President Donald Trump holds more than 1,000 municipal bond positions valued at between $300 million and $1 billion, with many of the underlying issuers directly affected by his administration's policy decisions, according to CNBC.

A CNBC analysis of his financial disclosures shows Trump closed out 2025 holding 807 municipal bond positions with a combined value ranging from $240.7 million to $797.6 million. Since then, his accounts have reported at least 243 bond purchases in 2026 totaling between $68.2 million and $233.8 million, a figure that includes 48 transactions that came to light Sept. 22 with the release of his July financial report.

"The scale of........

© Quartz