Trump Cabinet Members Sold Millions in Stock Before Tariff Crash
By Donald Shaw
Etienne Note: This article also appears in “Government”, Media and Academia Criminality Exposed, A digest of HUNDREDS and HUNDREDS of articles exposing and suggesting inter-generational organized crime's control of the "Government," Media and Academia by the Art of Liberty Foundation. You can view the other articles or subscribe on Telegram: https://t.me/Government_Scams
At least two members of Trump's cabinet sold substantial stock holdings just before and on the day of the president's surprise April 2 tariff announcement that shook global markets and triggered a $2.4 trillion sell-off. Attorney General Pam Bondi divested millions in assets on the day Trump announced the "Liberation Day" tariffs, while Secretary of Health and Human Services Robert F. Kennedy Jr. sold stocks on the days leading up to it, according to recently filed disclosures with the Office of Government Ethics.
Bondi sold between $1 million and $5 million worth of Trump Media & Technology Group shares and $250,000 to $500,000 in related warrants on April 2, according to a transaction disclosure. The stock, tied to Trump's Truth Social platform, declined in value during the days after the tariff announcement. Bondi earned nearly $3 million consulting for a Trump Media & Technology Group merger in 2024 and held $2 million to $10 million in its stock and vested warrants before the sales, per her financial disclosure. The warrants, which allow purchasing shares at a set price, were part of her compensation package from the merger. The exact timing of her April 2 trade, whether before or after Trump's tariff announcement that day, is not specified in the transaction filing.
Kennedy sold up to $50,000 in Amazon and up to $15,000 each in ASML Holding NV, Apple, Uber Technologies, Zscaler, CRISPR Therapeutics AG, and NIKE. between March 27 and April 4, 2025, per his May 9 filing. Most of the sales occurred on March 27, with shares of CRISPR and NIKE sold on April 4, after the tariff details were made public. Kennedy is estimated to have a net worth of around $15 million, so his pre-tariff stock trades represented just a small fraction of his wealth.
Both Bondi and Kennedy were confirmed by the Senate in February and were required under Office of Government Ethics requirements to divest assets posing potential conflicts within 90 days. Their sales fall within that window. Both signed agreements with the Office of Government Ethics to comply.
The "Liberation Day" tariffs, announced by Trump after the close of U.S. stock markets on April 2, set a 10% baseline tariff on all U.S. imports, with higher rates on some countries, like 34% on China and 20% on the EU. The tariff levels exceeded market expectations, leading to a $2.4 trillion sell-off by the S&P 500 on April 3, the biggest stock slide since the Covid lockdowns. On April 9, Trump announced a 90-day pause on most tariffs, excluding China, prompting a stock market rebound. The S&P 500 has since fully recovered from its post-Liberation Day downturn.
Federal insider trading laws prohibit officials from using nonpublic information for financial gain, though proving violations requires evidence of intent and knowledge that rarely exists. Trump repeatedly campaigned on tariffs in 2024, weakening claims that Bondi or Kennedy may have had privileged information, and making the policy shift at least somewhat foreseeable to the general public.
No evidence supports insider trading accusations against Bondi or Kennedy. Still, some Democratic politicians have raised concerns. Rep. Greg Casar (D-Texas) called for an investigation into Bondi's transactions, saying on X that "A culture of corruption has infected the Republican Party." Democratic Senators Elizabeth Warren, Chuck Schumer, and Adam Schiff have urged the Securities and Exchange Commission to investigate potential insider trading and market manipulation by Trump and his cabinet, citing suspiciously timed trades.
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I'm troubled by all the multi-millionaires in President Trump's cabinet.
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