Trump Claims He Made 'Hundreds of Billions' From Stocks for the US: 'Very Unfair' That He's Criticised

US President Donald Trump said on Sunday, 6 September, that he had made 'Hundreds of Billions of Dollars' for the United States through stocks and other holdings. In a Truth Social post, Trump said he was doing it for the country rather than himself, but did not provide a calculation supporting the figure.

The Trump administration has accumulated about $26.7 billion across 30 equity or quasi-equity deals, according to Fortune. The investments are spread across several federal agencies, and there is no single public ledger showing the government's acquisition costs, current values, and realised or unrealised gains across the entire portfolio.

Trump's post also included an AI-generated image showing him at the Resolute Desk, with screens displaying 'BOUGHT: INTEL $20' and 'NOW $95'.

The image does not establish that the government bought or sold Intel shares at those prices. The archived post describes the image as showing stock information for Intel, but it does not provide evidence of an actual government transaction.

Intel Shows the Scale of the Gains

The government's investment in Intel provides the clearest example of a large paper gain. In August 2025, the government agreed to buy 433.3 million Intel shares at $20.47 each, representing a 9.9 per cent stake at the time. Intel said the shares would be held passively, without board representation or other governance or information rights.

Intel closed at $95.80 on 4 September 2026. At that price, the 433.3 million shares would be worth about $41.5 billion. Compared with the $8.9 billion purchase price, that represents an unrealised increase of roughly $32.6 billion, assuming the government still holds all the shares.

That is a substantial increase, but it remains far below 'hundreds of billions'. It is also a paper gain, rather than money the government has necessarily received. The value could fall if Intel's share price declines.

Other Government Holdings

Intel is only part of the portfolio. The government has received warrants connected to Lithium Americas and its Thacker Pass project. It also holds a special 'golden share' in United States Steel following Nippon Steel's acquisition. These interests are not all ordinary publicly traded shares and cannot simply be valued in the same way.

The government has also secured a 35 per cent position in North American Blue Energy Partners (NABEP), a Venezuelan oil venture led by businessman Alejandro Betancourt. The position was structured through warrants that protect Washington from dilution as the project raises additional capital. The Pentagon also has rights to purchase part of NABEP's oil production.

NABEP is part of a broader plan involving up to $100 billion in investment to develop Venezuelan oil infrastructure. That figure refers to planned investment in the project, not $100 billion already earned by the US government.

Trump's Claim Remains Unverified

The government's growing portfolio makes it difficult to calculate a single figure for its overall gains. Some holdings have risen sharply, while others involve warrants, private companies or special rights without an easily observable market value.

Intel alone could account for about $32.6 billion in unrealised appreciation based on its 4 September closing price. But available public records do not establish that the government's combined gains have reached hundreds of billions of dollars.

Trump's personal finances are a separate matter. His 2025 financial disclosure reported more than $2.2 billion in income, including more than $1.4 billion from cryptocurrency, digital tokens, and related partnerships. Those figures concern Trump's personal finances, not the US government's corporate investments.

For now, public records show substantial government investments and potentially large unrealised gains, particularly in Intel. But Trump's claim of 'hundreds of billions' remains unverified, and no public accounting currently supports the figure he cited.