Trump is selling early access to his Truth Social posts — and, of course, there are no investigators in sight | Editorial
Investors pay up to $100,000 a month for a preview of the president’s market-moving posts. Critics call it “the depraved essence of insider trading.” Federal authorities say: Nothing to see here.
Donald Trump continues to enrich himself through rampant self-dealing while everyone else pays the cost of his failed policies — including the war in Iran, tariffs, and mass deportations.
Now comes the latest pocket-lining scheme that reeks of insider trading.
Trump’s media company has begun selling investors advanced access to his often market-moving Truth Social posts. More than 10 customers are paying up to $100,000 a month to get an early peek at the president’s social media posts.
The CEO of Trump Media and Technology Group (TMTG) told investors he expects more buyers to sign on, and that selling early access to the posts could “grow into a meaningful, durable contributor.”
Joe Rogan, the podcaster and Trump supporter, asked the obvious question: “How is that legal?”
Two media organizations sued Trump over the service, arguing it is unconstitutional, and Rep. Jamie Raskin (D., Md.) said it represents “the depraved essence of insider trading.”
Trump is the majority owner of TMTG, which owns Truth Social, the main platform he uses to communicate to his followers and the world, sometimes going on unhinged rants and posting more than 100 times a day.
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But major announcements from Trump about issues such as tariffs, the erratic peace negotiations with Iran, and attacks on Federal Reserve interest rate policy often cause stock, oil, and bond markets to rise and fall.
Advanced knowledge of such information will enable insiders who buy early access to profit from Trump’s posts. Indeed, suspicious trading ahead of some of Trump’s previous market-moving announcements has raised red flags of insider trading.
Trump knows how to manipulate financial markets.
Last April, he wrote on his social media platform: “THIS IS A GREAT TIME TO BUY!!! DJT.” Hours later, the president detailed a 90-day pause on nearly all his tariffs, causing the stock market to gain back about $4 trillion that had been lost in the previous days of trading.
Trump has also used his presidential bully pulpit to bolster individual stocks.
He touted Dell stock after founder Michael Dell and his wife, Susan, pledged to donate more than $6 billion to the “Trump Accounts” program. Shares of Dell jumped 7% after Trump urged investors to “go out and buy a Dell computer.”
After shares of Tesla sank following Elon Musk’s disastrous tenure dismantling the government as the DOGE figurehead, Trump held an embarrassing promotional event outside the White House praising the cars.
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Commerce Secretary Howard Lutnick followed Trump’s Tesla promo by going on Fox News and urging viewers to buy the stock — an apparent violation of federal ethics rules that prohibit officials from endorsing products or businesses.
The White House push boosted Tesla’s stock price.
But don’t look for the U.S. Department of Justice or the Securities and Exchange Commission (SEC) to investigate Trump’s plan to sell access to his Truth Social posts.
Todd Blanche, the newly confirmed attorney general who enriched himself as Trump’s defense attorney, refused to pledge that he will always act independently of the White House.
SEC enforcement cases hit a record low during Trump’s first year back in office. The agency just dropped insider trading charges against a healthcare executive the president pardoned.
Several Democratic lawmakers called on the SEC to investigate the Truth Social deal. But any real investigations of Trump’s moneymaking are unlikely until Democrats win control of the House or Senate.
Trump made an estimated $2.2 billion last year on side hustles involving cryptocurrency, branding deals, real estate ventures, and legal settlements with media companies that blur the power of the presidency with profiteering.
The Truth Social scheme will add to Trump’s pocket lining.
