U.S. AG Pam Bondi Sold More than $1 Million in Trump Media Stock the Day Trump Announced Sweeping Tariffs

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According to documents obtained by ProPublica on Wednesday, Attorney General Pam Bondi sold shares of Trump Media valued between $1 million and $5 million on the same day that President Donald Trump announced new tariffs, resulting in a drop in the stock market. Trump Media, the company behind the social media platform Truth Social, saw a 13% decline in the days following the announcement before recovering.

Bondi’s disclosure forms indicate that the transactions took place on April 2, coinciding with Trump’s tariff announcement. However, it is not specified whether the trades occurred before or after the market closed. Trading stocks based on nonpublic information obtained through official duties may breach the law, but prosecuting such cases can be complex, with legal definitions of insider trading narrowing in recent years.

It remains uncertain from public records whether Bondi, as attorney general, had access to undisclosed details about Trump’s tariff plans prior to the announcement. While Trump had publicly discussed imposing significant tariffs during his election campaign, the market initially perceived these statements as rhetoric during the early stages of his presidency.

The Justice Department has not yet responded to inquiries regarding Bondi’s trades. The disclosure forms provide a range rather than specific amounts or values of the stocks sold. They do not specify the timing or price at which Bondi sold the shares. Trump Media’s stock closed at $18.76 on April 2 and opened at $17.92 the next day after Trump’s press conference, experiencing further declines afterward.

Apart from selling Trump Media shares worth between $1 million and $5 million, Bondi’s disclosure form also indicates the sale of warrants valued between $250,000 and $500,000. Bondi’s prior ownership of Trump Media shares was publicly disclosed, as she had been a consultant for the company before becoming attorney general. She had committed to selling her stake in Trump Media within 90 days of her confirmation, a deadline that would have permitted the sales until early May.

On April 1, Trump Media submitted a disclosure to the Securities and Exchange Commission detailing the holdings of key shareholders, including Trump and Bondi. The purpose of this filing, as well as its connection to Bondi’s subsequent sales, remains unclear. The filing appeared to re-register shares held by several top shareholders of the company.