Spokesman: Trump sold all his stock in June
Donald Trump sold all his stock back in June, a transition team spokesman said today, showing the president-elect has begun to address concerns about complicated entanglements between his business and new government life.
Questions about Trump's stock holdings came back into view Tuesday after he criticized the costs of Boeing (BA) to build a new Air Force One. "The president-elect sold all of his stock back in June. I do not know if he had any Boeing stock at that time," says Trump spokesman Jason Miller.
Trump slams Boeing deal for new Air Force One
Trump reported having two brokerage accounts containing 150 stock and bond investments, according to a filing to the U.S. Office of Government Ethics in May. Those holdings included stakes in Amazon.com (AMZN), Apple (AAPL), Boeing (BA) and Visa (V). The value of Trump's ownership in Boeing was valued at between $50,001 and $100,000 according to disclosures during his campaign. Trump hasn't so far stated how he plans to handle his ownership in his Trump Organization, which is where a vast majority of his business interests reside.
Trump, known for his real-estate holdings, has said in the past stock investing wasn't his focus. When asked in August if he owned stock, he said "I did, and I got out. I did invest and I got out, and it was actually very good timing. But I've never been a big investor in the stock market," Trump said on Fox Business Network.
Some are fearful Trump's various investments and family business relationships could be a potential conflict of interest as he shifts to public service and has a role in forming policies that will determine winners and losers in the economy. He is expected to address the potential conflicts and what he's doing to deal with them in an address on Dec. 15.
How much Trump has made on the sale of his stocks is unclear. By law, Trump will not have to file another personal financial disclosure report until May 2018. As president, Trump also will be subject to a 2012 law, known as the STOCK Act, that requires elected officials to disclose any stock transactions of $1,000 or more within 45 days, but that law does not cover his activities before he takes office.
Contributing: Fredreka Schouten