President Donald Trump's latest financial disclosure shows more than 1,000 stock trades executed on his behalf in July, spanning Microsoft, Nvidia, Palantir, Tesla and Elon Musk's newly listed SpaceX. The filing lands as Trump uses the United Nations General Assembly to frame artificial intelligence as a national-security contest, rejecting international guardrails while preparing for a state visit from Chinese President Xi Jinping this week.
The numbers
Microsoft shares were sold in a range of $6.5 million to $31 million, while purchases amounted to $165,000 to $400,000. Nvidia and Palantir, the latter a contractor to the Defense Department and Immigration and Customs Enforcement, accounted for the bulk of the transaction count. SpaceX, which debuted on the Nasdaq in June, saw thousands of dollars change hands; its shares fell sharply in July and August but now sit 14 percent above the listing price. Tesla trades also appear in the filing.
The independence claim
A White House spokesperson said the portfolio is managed by third parties with no input from Trump or his family. "There are no conflicts of interest," the spokesperson told the BBC. The statement mirrors language used after previous monthly disclosures since Trump returned to office in January 2025.
The AI backdrop
The July trades were disclosed against a renewed debate over AI safety. At the UN on Tuesday, Trump said he wants to rebrand the technology as "super intelligence" to project American dominance, repeating his line that "whoever wins AI, wins." He dismissed calls for a regulatory slowdown, arguing restrictions would cede ground to China. That position puts him at odds with Secretary General António Guterres, who continues to push for binding international safeguards.
The hotline proposal
While rejecting multilateral rules, the administration is simultaneously proposing a bilateral emergency AI "hotline" with Beijing to manage cyber risks or rogue-system incidents. The channel would operate alongside the Xi state visit, a pairing that underscores how the rhetoric of competition coexists with a practical recognition of shared systemic risk.