Trump's pharma investments grew as Medicare exemptions passed

Summarised from 2 outlets · Updated 16 Oct, 13:33 · Archive

President Trump's pharmaceutical stock holdings increased from $1.7 million to $56.2 million after his return to office, congressional Democrats report.

President Trump's pharmaceutical investments significantly increased after his return to the White House, according to a report released Friday by the Joint Economic Committee's minority arm. His 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.

Up to $39.1 million of these holdings were in companies that benefited from exemptions to Medicare's drug price negotiation program, which came through a provision in Republicans' 2025 tax and spending law. Additional analysis of Trump's financial disclosures showed that his investment portfolio purchased 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.

Purchases included up to $950,000 on 1 July 2025, the day the Senate passed the bill, and up to $1 million in AbbVie stock in August 2025, after the bill became law. Trump's wealth has grown since taking office through a web of business interests, many of which have benefited from the policy moves of his administration.

How it is being reported

• Trump increased investments in drugmakers that benefited from Medicare exemptions, Democrats sayPresident Donald Trump's investments in pharmaceutical companies have significantly increased after his return to the White House.News4Jax · 16 Oct, 13:01
• Trump increased investments in drugmakers that benefited from Medicare exemptions, Democrats sayPresident Donald Trump's investments in pharmaceutical companies have significantly increased after his return to the White House.Clickorlando · 16 Oct, 13:01

In this story: Donald Trump · Joint Economic Committee · AbbVie · Medicare · Republican Party · United States Senate

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