
US President Donald Trump is facing criticism after urging people to "buy" amid the recent stock market crash, hours before announcing a halt to retaliatory tariffs. Democrats have since called for an investigation into "insider trading," with many noting that one of his two tweets included his company's symbol.
A video of Donald Trump joking about how his associates had made hundreds of millions of dollars has also gone viral on social media.
"He made $2.5 billion today and this guy made $900 million! That's not bad," Trump can be heard saying amid laughter in the widely shared clip.
His 53% stake in Trump Media - now in a foundation controlled by his eldest son Donald Trump Jr - rose by $415 million during the day. Trump Media was outsold, albeit by only a couple of percentage points, by another Trump partner - Elon Musk's Tesla.
"He made 2.5 million today and he made $900 million. That's not bad."
— Outspoken™️ (@Out5p0ken) April 10, 2025
Sounds like market manipulation to me. That's bad. pic.twitter.com/1WYxcqam9O
Trump had insisted in a social media post on Wednesday morning that this was a “great time to buy,” as stock markets plunged and a global trade war seemed imminent. The post ended with his initials “DGT” — which also happens to be the stock symbol for Trump Media (the company that owns Truth Social). While Trump frequently uses the acronym on social media, many online have suggested that this was a very personal call from Trump to buy shares of his company.
Despite the goal, his company posted a stunning rise as investors rushed to buy shares of Trump Media. The company — in which the president owns 53% of the stock — saw its stock rise 22.67% — more than double the market’s biggest gain on Wednesday. The White House did not respond to questions about whether the US president was encouraging people to buy shares in general or Trump Media specifically.
It also remains unclear when the decision to lift the tariffs was actually made by the White House. Senior aides have also chosen to answer this question by insisting that it was the President's job to "assured markets and Americans of their economic security."
"Insider trading" is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some types of trading based on inside information are illegal.