Trump acquired between $15,001 and $50,000 in TKO Group Holdings stock on March 25, according to a May 12 financial disclosure filing. The purchase occurred while Trump promoted plans for a high-profile UFC event on the White House South Lawn for America’s 250th anniversary and his 80th birthday. The event is scheduled for June 14, with setup underway in Washington, D.C. The stock purchase and promotion raised conflict-of-interest concerns, with critics arguing the White House would be used to benefit a company tied to Trump’s investments. The White House did not immediately respond to a request for comment. Related reporting about extensive stock trading also drew criticism and defense from administration figures.
"Trump purchased stock in the parent company of the UFC earlier this year as he continued promoting his plans for a high-profile UFC event on the White House grounds this summer. A May 12 financial disclosure filing reviewed by the outlet showed Trump acquired between $15,001 and $50,000 worth of stock in TKO Group Holdings, the company that owns UFC, on March 25. The stock purchase came as Trump was publicly touting plans to bring a UFC fight card to the White House South Lawn for both America's 250th anniversary and his own 80th birthday."
"The event is planned for June 14, with set-up already underway in D.C. As HuffPost's S.V. Date noted in the report, TKO Group Holdings will receive a fortune in publicity from the event itself and, importantly, from the president's promotion. Grifting has always been an issue in Donald Trump's presidency, but now the mask is off, Jordan Libowitz of the Citizens for Responsibility and Ethics told HuffPost."
"Using the White House to promote a company whose stock you bought while promoting it is one of the worst conflicts of interest you could imagine. The agenda of this administration seems to start and stop with how to make Donald Trump richer, he added. The White House did not immediately respond to the outlet's request for comment regarding the stock purchase."
"Just last week, Vice President J.D. Vance accused The Independent's Andrew Feinberg of lacking objectivity after he asked about recent reporting that said the president made more than 3,700 trades in the first quarter of the year, many of which were for companies he's hyped up on social media and at official events. Vance argued that Trump's stock trades are made by his independent financial advisors while emphasizing that the administration still supports a ban on members of Congress trading in individual stocks."
Read at www.mediaite.com
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