President Donald Trump is promoting new investment accounts that could potentially enable him to personally benefit from the tariffs he has imposed.
On April 15, Trump Media and Technology Group (TMTG)—the parent company of Truth Social—announced plans to market a series of actively managed investment accounts designed to support companies aligned with Trump’s agenda. The “America First” accounts, which focus on themes like “Made in America” and “Energy Independence,” have raised concerns, according to independent journalist Judd Legum.
He suggests that Trump’s tariff policies could potentially be used to influence the value of these accounts for personal or political gain.
“TMTG said the new investment accounts would ‘offer investors access to curated, thematic investment strategies rooted in American values and priorities,’” Legum wrote on his Popular Information newsletter.
“Among the themes are ‘Made in America,’ which presumably would focus on companies that would benefit from tariffs on competitors who make goods abroad and import them to the United States.”
However, with themes of “Faith & Values” and “Liberty & Security,” the “Truth Social-branded Separately Managed Accounts” serve as a way for investors to support companies aligned with the president’s agenda, one of the venture’s partners says.
“Made in America is more than just a theme — it’s a declaration of support for businesses essential to our economy, national security, and enduring freedoms,” Jon DuPrau, managing partner at Index Technologies Group, which is collaborating with TMTG on the investment accounts, told Raw Story. “These strategies empower investors to align their portfolios with patriotic and ethical convictions.”
As part of the venture, TMTG plans to invest a portion of its cash reserves into the accounts, allowing the president, who holds a majority stake, to earn a share of the fees generated. The company’s return will depend on both the performance of these assets and the interest drawn from outside investors.
“Trump, as President, will also be able to significantly influence the performance of these assets through tariffs and other policies,” Legum wrote.
“It is a jaw-dropping conflict of interest for actively managed investment accounts to be marketed under the president’s name through a company that is majority-owned by the president.”
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