In addition to his 100 percent stake in the Trump Organization, Donald Trump owned a diversified portfolio of individual stocks in addition to the businesses of which he was figurehead. Concerns have been expressed about potential conflicts of interest that could arise given his company (which will be run by his kids) and personal investments. The Trump Organization has operations in at least twenty countries.Many have recommended that Trump exit his stake in the Trump Organization, whether that be taking the company public and offloading his position, or selling his Organization’s assets and putting the funds in a blind trust.
In all fairness, that’s the least likely solution Trump will actually take, confident that passing operations into the hands of his children will resolve any conflicts of interest between his duty with the business and as president. In regards to his other investments however, we just learned that Trump exited all those investments ahead of the election.As the Washington Post reported: President-elect Donald Trump sold all his shares in companies in June, his spokesman said Tuesday, a move that could have created a cash windfall as he ramped up to begin a costly general election presidential campaign that at the time he claimed he would personally support with “major contributions.”
The sell-off could help address conflict-of-interest worries about his stock portfolio, a sizable part of Trump’s financial life that was worth roughly as much as $40 million as of December 2015, a May disclosure filing shows. Trump’s stock portfolio, the May filing shows, included shares in a number of banks, oil giants and other companies with business pending before the U.S. government and whose value could rise due to Trump’s decisions in office.
Those stock holdings, ethics advisers said, offered a potentially troublesome facet of Trump’s private finances that could entangle his public decision-making. Beyond comments to The Post, Trump representatives have not provided records of stock transactions or other details since the May filing.Trump won’t be required by law to file any other personal financial disclosures until May of 2018. As president, Trump will be required to disclose any stock transactions greater than $1,000 in value within 45 days as a result of the STOCK Act, so if he were to repurchase any positions, we would know before then. For anyone curious, you can read a summary of Trump’s private business holdings via the Trump Organization, and his personal stock/mutual fund/misc.investments here.
It’s an interesting read!
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]