Report: Trump's Drugmaker Holdings Rose to as Much as $56.2M, Including $39.1M in Firms Shielded From Medicare Talks; White House Denies Conflict
Investments in pharmaceutical companies made on behalf of President Donald Trump increased significantly after he returned to the White House, according to a report released on Friday, October 16, by the minority arm of Congress's Joint Economic Committee, the Associated Press reported. The report found that Trump's pharmaceutical stock holdings grew from a maximum reported value of $1.7 million in 2024 to as much as $56.2 million at the end of 2025, including up to $39.1 million in companies that benefited from exemptions to Medicare's drug price negotiation program under a provision in Republicans' 2025 tax and spending law.
Additional analysis of Trump's financial disclosures provided by committee Democrats showed that his portfolio bought as much as $2.55 million in shares of pharmaceutical companies benefiting from the exemptions on three dates before he signed the legislation in July 2025, including up to $950,000 on July 1, 2025, the day the Senate passed the bill. His portfolio also bought as much as $1 million in AbbVie stock in August 2025, after the bill became law. The report also said the exemptions could leave some Medicare beneficiaries paying thousands of dollars more for certain cancer treatments and other medications than they would if Medicare had been allowed to negotiate lower prices.
The White House has repeatedly denied any ethics issues and accused Democrats of attempts to fabricate conflicts of interest. The AP noted that Trump's wealth has grown since he took office through a web of business interests, many of which have benefited from his administration's policy moves.
Published by GSM · USA (original Chinese edition)
Photo: 资料图：白宫北立面。File photo: The north front of the White House.
