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insider trading
Dell Scores Major Pentagon Contract Weeks After Trump Promoted Company
The on-paper value of the president's Dell stock holdings has soared potentially by millions since he told Americans to "go out and buy a Dell" earlier this month.
May 28, 2026
Just weeks after President Donald Trump urged Americans to "go out and buy a Dell" and months after he bought millions of dollars worth of stock in the company, the computer giant was awarded a $9.7 billion Pentagon contract.
The Department of Defense confirmed the contract with Dell Federal Systems, the government-focused arm of Dell Technologies, on Wednesday.
Euronews reported:
As part of the Core Enterprise Technology Agreement (CETA), a Pentagon-wide Microsoft licensing and software procurement framework, the company will provide and manage Microsoft software licences, cloud subscriptions and on-premises software licensing across the US military, intelligence agencies and the US Coast Guard.
The contract would have raised scrutiny regardless, given the Dell family’s proximity to Trump in his second term. CEO Michael Dell and his wife, Susan, have pledged $6.25 billion to help fund the so-called “Trump accounts” that were part of the president's 2025 mega budget legislation, a policy that critics have described as a tax shelter for the wealthy.
This tied the Dell family fortune to Trump's political agenda. In recent months, he's also hitched it to his own personal wealth.
Follow this:First, Trump quietly buys up to $5 million of Dell stock.Then, he urges his followers to “go out and buy a Dell.”Today, his Pentagon awards a $9.7 billion deal to Dell. www.bloomberg.com/news/article...
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— Bill Grueskin (@bgrueskin.bsky.social) May 27, 2026 at 7:45 PM
During his frenetic burst of stock trading in the first three months of the year, Trump purchased between $1 million and $5 million in Dell stock on February 10, according to financial disclosure forms, when the stock traded at $126 per share.
Months later, at a Mother's Day event on May 8, he publicly shilled for the company's products—a possible violation of White House ethics policy—and lavished praise upon the Dell family:
They've done such a job, such a job on that. They put up a lot of money, too [for Trump accounts]. Put up $6.25 billion. That's somebody and he started making computers on his bed in college and selling them because they were better than other computers.
And he just—I said, "How did you do that?" He said, "Well, I did it and I just never stopped." He just kept going.
So, go out and buy a Dell, they're great.
After the president's remarks, the value of Dell stocks surged by 14.6% to an all-time high of just under $264 before settling at just over $260 by the end of the day.
The announcement of the lucrative new Pentagon deal on Wednesday has caused the stock’s value to soar, reaching nearly $318 per share as of Thursday morning. The value was $305 per share before the announcement.
In total, the share price of Dell stock has climbed by about 155% since Trump bought it back in Feburary. Depending on how much of it he owns, that means he could have unrealized gains of between $1.55 million to $7.74 million. About 47% of those unrealized gains would have come just in the last month since he used the White House to boost Dell stock.
DELL stock chart by TradingView
Acting US Navy Chief Information Officer Barry Tanner has insisted that there was no playing favorites when Dell was selected for the contract.
But Trump, who has increased his net worth by an eye-popping $3 billion since retaking office last year, according to the watchdog Citizens for Responsibility and Ethics in Washington (CREW), has regularly faced accusations of lavish self-dealing.
In fact, a ProPublica report out on Thursday found that his White House adviser, Peter Navarro, personally intervened to push the Pentagon to give a $620 million loan to a startup linked to Donald Trump, Jr., out of dozens of companies that were under consideration.
Dell is also far from the first company to receive a Trump administration contract or other beneficial action after Trump purchased their stock. Earlier this month, NOTUS reported that Trump had bought shares in companies, including Palantir, Axon, and AMD, mere weeks before they were granted government contracts or regulatory relief.
Tommy Vietor, a National Security Council staffer under former President Barack Obama and now the host of the liberal Pod Save America podcast, said on social media that the Dell contract was an example of how “every day there’s another example of insider trading and corruption by Trump himself.”
Noting that Trump’s personal profit from the presidency far exceeds that of anyone else who has held the office, Tim Miller, a journalist and commentator at The Bulwark, said that a contract with such an obvious conflict of interest would be a “front-page story and weekslong scandal for anyone other than Trump.”
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The Supreme Court Has Enabled Trump to Become Profiteer-in-Chief
Before Trump v. United States, presidents knew they could be criminally prosecuted if they looted the government, but Chief Justice John Roberts’s ruling all but stops any bribery prosecution before it starts.
May 20, 2026
On Monday, Donald Trump dropped his sham lawsuit against the federal government. In exchange, the Justice Department under his control will establish a $1.8 billion fund for “victims of lawfare,” as Acting Attorney General Todd Blanche put it. This will be a slush fund for Trump’s allies—presumably January 6 insurrectionists and others already rewarded with a pardon.
There is a zone of lawlessness around the Oval Office, erected by the Supreme Court when it granted current and former presidents effective immunity from prosecution if their crimes involved “official acts.” Loot the taxpayers, misuse government power for graft, and you’re off the hook.
Last week, the president filed a report with the Office of Government Ethics detailing the stock trades he made this year. It is a novelistic tale of profiteering, recognizable as insider trading in every way except, perhaps, under the law.
Former US Pardon Attorney Liz Oyer offers a useful guide.
It’s epic corruption in plain sight. History shows that after scandal comes reform—often, but not always.
In recent months, as Paramount and Netflix vied to buy Warner Brothers, Trump bought stock in all three companies. Now the Justice Department is considering whether to approve Paramount’s purchase of Warner Brothers.
As CNBC reported, Trump “scooped up shares” in the data firm Palantir. Soon after, he abruptly praised the firm. “Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment,” Trump posted, even highlighting its ticker name. “Just ask our enemies!!!” All this while Palantir was winning big federal contracts.
He invested in Oracle while brokering its deal to buy TikTok.
Just this week, he paraded off Air Force One in China, flanked by the CEOs of Nvidia and Boeing. Trump bought millions of dollars of Boeing stock before the trip, which led to the sale of 200 Boeing airplanes to the Chinese government. Among his biggest purchases has been Nvidia stock, which has seen steep increases after the US government cleared 10 Chinese companies to purchase its advanced chips, in a big reversal from earlier national security concerns.
Altogether, Oyer writes, “You’ll find it hard to avoid the conclusion that, to Donald Trump, governing is synonymous with profiteering.”
This president is constrained by the weakest legal rules in history.
Start with that immunity ruling, Trump v. United States. Before that, presidents knew they could be criminally prosecuted if they looted the government. Chief Justice John Roberts’s ruling all but stops any bribery prosecution before it starts, by preventing any inquiry into the president’s motivations, even when the act looks and smells like a bribe. Justice Amy Coney Barrett noted that the ruling would “hamstring the prosecution” in a case such as bribery. (Having critiqued the misguided majority, Barrett then mystifyingly voted with it.)
Insider trading laws are weak, in any case. The Securities Exchange Act of 1934 prohibits using nonpublic information to guide stock trading, but its application to elected officials remains murky. In 2012, Congress passed the Stock Act to prevent insider trading among members of Congress, but the president and vice president remain exempt.
It’s epic corruption in plain sight. History shows that after scandal comes reform—often, but not always.
In January, the Brennan Center published Nine Solutions for Political Corruption. In it, we call for a law to require the president to divest from all stocks and other assets that could generate a conflict of interest. That was the norm, and now it must be a law. Ethics rules should cover presidents and vice presidents too.
And we call for a constitutional amendment to end the unilateral power of a president to issue corrupt pardons.
What about that Trump v. United States ruling? In the past, after the Supreme Court has erred so gravely, we’ve changed the Constitution. The 14th Amendment, for example, undid the Dred Scott decision. Another amendment is needed to clean up the immunity mess.
The sturdiest protection against corruption would be fierce anger from fleeced taxpayers. A few months ago, when asked about his conflicts of interest, Trump said, “I found out that nobody cared, and I’m allowed to.”
It turns out that Americans do care. In January, a YouGov poll found that “large shares of both Democrats and Republicans think their party focuses too little on corruption.”
Let’s make this a major issue for the campaign trail and press politicians from both parties to provide solutions, not just soundbites. Or else, as Oyer wrote, we risk having future presidents who “loot and pillage our country without a shadow of shame.”
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‘Epic Insider Trading’: Nearly $1 Billion in Crude Oil Shorts Taken Just Before Report of US-Iran Peace Deal
"Only a select few in the top tax bracket are benefiting from this, and the majority of you ain’t in it," said former Rep. Marjorie Taylor Greene.
May 06, 2026
Observers are once again raising concerns about insider trading on Wednesday after a trader took a colossal crude oil short position just over an hour before a US-Iran peace deal was reported to be on the horizon, causing prices to fall.
The Kobeissi Letter, a financial newsletter, reported on X that at 3:40 am on Wednesday, "nearly 10,000 contracts worth of crude oil shorts were taken without any major news."
This was equivalent to $920 million in notional value, which the letter described as "an unusually large trade" so early in the morning. But it would soon pay off.
At 4:50 am, just 70 minutes later, Axios published an exclusive scoop by Middle East reporter Barak Ravid that the White House believed the US and Iran were on the verge of agreeing to a one-page "memorandum of understanding" to end the war, which included more nuclear negotiations, one of the key sticking points for US President Donald Trump.
By 7:00 am, just over two hours after Axios dropped its report, oil prices had fallen by 12%, allowing the savvy investor to make $125 million in a matter of hours, which led to accusations that it was yet another example of "epic insider trading" by those in the know about Trump's plans.
Prices have since rebounded by about 8% after Iran announced the creation of the new "Persian Gulf Strait Authority," to mediate the passage of ships through the Strait of Hormuz on its terms.
The Trump administration has already been deluged with accusations that its members are using insider information to take advantage of financial markets and prediction market apps.
Last month, an active-duty US special forces soldier was indicted by the Department of Justice after he made about $400,000 betting on Polymarket that Venezuelan President Nicolás Maduro would be removed from power, a bet he allegedly placed using classified information about an operation he himself was involved with.
More bettors collected around $1 million in profits from bets on the specific timing of Trump's war with Iran in late February. The Financial Times also reported a surge of more than $580 million in oil futures trading right before Trump announced a pause in strikes on Iran's energy facilities in March.
Of course, Wednesday's bet theoretically could have been made without the aid of insider information.
The new peace framework is the latest in what has seemed to be an endless pattern over the past several weeks in which US officials tell media outlets that a peace agreement is on the horizon, causing oil prices to dip, only for it to collapse later in the week, often with Trump issuing hostile threats or making new demands.
It has become such a familiar story that some have speculated that the announcement of productive ceasefire talks is deliberately choreographed to calm oil markets and bring down prices, which have become a growing problem for Trump among voters.
But as The Economic Times explained, the bet placed Wednesday morning likely "is not a routine hedge" or "a portfolio rebalancing move."
"At that hour, in that size," it said, "a crude oil short of that magnitude is a deliberate, high-conviction directional bet."
Former Rep. Marjorie Taylor Greene (R-Ga.), a one-time Trump cheerleader who's become one of his leading critics, suggested Trump's erratic approach to negotiating an end to the war was just a tool used by him and his allies to profit.
"When is everyone going to start realizing that the on-again, off-again war/peace rhetoric is really just insider trading? And sprinkle in some murder," Greene wrote on social media. "Only a select few in the top tax bracket are benefiting from this, and the majority of you ain’t in it."
Democrats in Congress have urged the Securities and Exchange Commission (SEC) to investigate what Sen. Chris Murphy (D-Conn.) suggested could be "mind-blowing corruption" by the White House, not only related to Trump's wars, but also to his tariff regime, which has caused similar market chaos that bettors have been able to capitalize on with fortuitously timed wagers.
But critics have described profiting from the machinations of a war that has killed more than 1,700 civilians as particularly grotesque.
"This has to stop," said Fox News commentator Jessica Tarlov. "Lives on the line so they can insider trade!"
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