Pam Bondi sold media stock on day tariffs announced

Attorney General Pam Bondi reportedly sold Trump Media shares valued between $1 million and $5 million on the same day that President Donald Trump announced the implementation of substantial tariffs that led to a stock market decline. These transactions were revealed through disclosure forms obtained by ProPublica. Trump Media, the parent company of Truth Social, experienced a 13% drop in its stock value following the tariff announcement before beginning to recover in the days that followed.

President Trump’s press conference, referred to as the “Liberation Day” event, took place after the market had closed on April 2. Bondi’s disclosure forms indicate that the sale of Trump Media shares occurred on the same day, but do not specify whether the transactions were completed before or after the market closed. Trading stocks based on nonpublic information acquired through official work may be viewed as illegal, but bringing legal action against government officials in such cases can be complex. Recent legal precedents have resulted in definitions of what constitutes unlawful insider trading becoming more limited.

Regarding Bondi’s potential access to privileged tariff-related details as attorney general, the available information does not definitively show whether she had prior knowledge of the details Trump revealed that day. While Trump had publicly referenced plans to introduce tariffs during his election campaign, the market initially treated these statements as campaign rhetoric rather than firm policy.

The public records do not specify the exact number of shares that were sold or their individual value but present a broad range. Details around the timing and price of the stock sales are also missing from the disclosed documents. Trump Media’s stock price closed at $18.76 on April 2, the day of the trades, with its opening price at $17.92 the following day before further declining. Apart from the substantial value of Trump Media shares, Bondi’s disclosure form indicates the sale of warrants valued between $250,000 and $500,000, giving the bearer the option to purchase additional shares.

Bondi’s previous connection to Trump Media has been acknowledged, as she had worked as a consultant for Digital World Acquisition Corp., the entity that facilitated Trump Media’s public launch by merging with it. In her ethical agreement, Bondi committed to divesting her Trump Media ownership within 90 days of assuming office, allowing her until early May to finalize the stock sales.

On April 1, Trump Media made a filing with the Securities and Exchange Commission outlining ownership details of key shareholders, including both Trump and Bondi. The purpose of this filing and its potential relevance to Bondi’s subsequent share sale remains unclear. This documentation seemed to be a reissuance of certain shares held by major shareholders of the company.

The Justice Department did not provide an immediate response to inquiries regarding these transactions as they pertain to Bondi. Details regarding the context and implications of Bondi’s Trump Media sell-off continue to prompt questions about potential legal and ethical implications.