Eric Trump has refuted claims that his family used political connections to engage in stock buying at the detriment of the United States. The speculation began after reports of large stock market transactions carried out in Donald Trump’s name emerged shortly after his recent trip to China. The stock purchases reportedly date back to February and are said to be worth several million dollars, including shares in companies such as Boeing and Visa, whose CEOs also joined Trump on his trip to the Asian country.
Eric Trump Denies Family Directed Stock Buys
Trump isn’t letting accusations about his family’s alleged involvement in stock fraud go unanswered, even when the claims come from a legislator.
Senator Elizabeth Warren recently posted on X, claiming that Trump had purchased millions of dollars’ worth of NVIDIA stock. She also alleged that the president brought NVIDIA CEO Jensen Huang on his trip to China to lobby Xi Jinping to buy advanced AI chips, arguing that the move undermined U.S. security and calling the president corrupt.
In response, Eric defended his family, claiming that neither he nor his father was personally involved in the stock purchases.
“All of our assets are invested in a blind trust by the largest financial institutions in broad market indexes. 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,” the businessman said.
Critics Challenge Eric’s Blind Trust Claim
Despite Eric’s denial, several social media users called him out in his comment section, accusing him of misrepresenting the facts.
“This is an outright lie,” one user wrote. “Your father’s signature is on his financial disclosure form, which, under penalty of law if falsified, shows his purchases were not in a blind trust.”
“This is not factual,” another individual commented. “You are trying to bamboozle the American people. All of this information is available in the public record. Trump’s assets are not by any means in a blind trust.” A third critic argued that the blind trust defense did little to settle the controversy, writing, “A blind trust is not a defense and can still very easily be manipulated. Especially by the effing President. The blind trust defense only makes you look even more guilty.”
Donald Trump’s NVIDIA Stock Buys Draw Scrutiny
The claims about Trump’s stock purchases emerged after reports surfaced regarding a disclosure filed with the Office of Government Ethics.
According to the disclosure, the NVIDIA stock purchases were valued between $1 million and $5 million, although the exact amount was not listed, as disclosure rules do not require a specific figure.
Trump also reportedly purchased several million dollars’ worth of Boeing stock, with both investments reportedly made in February. Interestingly, the CEOs of both companies were with Trump during his recent trip to China, where several deals were struck between U.S. companies and the Asian country.
Eric Rejects Another Company Link
Amid the backlash over the stock purchases, Eric also became embroiled in another controversy regarding an alleged connection to ALT5 Sigma Corporation, a fintech company closely linked to his family’s World Liberty Financial crypto venture.
He was accused by former White House Press Secretary Jen Psaki of MSNOW of previously serving on ALT5’s board as an observer, a claim Eric denied on X while also threatening legal action against the journalist over the allegation.
“I intend to sue @jrpsaki and @MSNOWNews,” the president’s son said while quoting a clip from Psaki’s show, “The Briefing,” where she made the claim.
“Contrary to her monologue and blatant lies, I have NEVER been on the board of ALT5, not now, not ever. Any person with basic access to Google and willing to open a company’s annual report or proxy statements would know this,” he added.
Eric Trump Says China Trip Was Personal
Eric also claimed to have “zero business interests in China.” He pushed back against allegations that he may have been directly involved in ALT5 Sigma Corporation’s reported efforts to secure a deal with a Chinese computer chip manufacturer to build AI data centers and other AI-related projects.
According to the businessman, he recently traveled to China with his father for personal reasons, not for any business-related activities.
“I joined this trip for one reason: as a loving son who adores my father and wouldn’t miss being by his side for this incredible moment. During the bilateral talks, @LaraLeaTrump and I went to the Great Wall of China,” Eric wrote.