The Indicator from Planet Money
The Indicator from Planet Money

What Doordash, Dell and Palantir all have in common

September 24, 2026

AI Summary

5 min read

President Trump has traded more than 28,000 individual stock positions since taking office for his second term — more than all members of Congress combined, according to a Bloomberg analysis. That works out to roughly 80 trades per market day. And he has repeatedly used his platform to promote specific companies whose stock he has traded, companies that also hold federal contracts. While the president and vice president are legally exempt from conflict-of-interest laws that bind other executive branch employees, the pattern has raised questions about whether the line between market cheerleading and market manipulation is getting blurred.

The legal carve-out and the White House's position

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What you'll learn

  • 1 (00:06) **Introduction: The President as Stock Market Cheerleader** - Hosts Waylon Wong and Adrian Ma set up the episode's focus on President Trump's frequent stock market commentary and his personal trading activity.
  • 2 (02:54) **The Legal Loophole for the President** - Explanation of why the president is largely exempt from conflict-of-interest laws that apply to other executive branch employees.
  • 3 (03:56) **Example 1: Dell** - Trump bought up to $5 million in Dell stock and publicly praised the company, which later won a major government contract.
  • 4 (05:02) **Example 2: Palantir** - The president traded Palantir stock while the company won a billion-dollar contract and received a direct, market-moving endorsement from Trump.
  • 5 (06:21) **Example 3: DoorDash** - The White House released a promotional video featuring a DoorDash driver, months after the president traded the company's stock.
  • 6 (07:12) **The Bigger Picture: AI and Ethical Warnings** - The hosts connect these examples to Trump's broader cheerleading for the AI industry, where he and his family have significant investments.
  • 7 (08:01) **Public Opinion and Legislative Action** - Discussion of public sentiment and a recent bill that would restrict stock trading by lawmakers, but notably excludes the president.

+ Full timestamped outline available in the app

Guests on this episode

Alex Carp

Show Notes

President Trump and his money managers made more stock trades since his second term started than all members of Congress combined. The White House says there is no conflict of interest. Today on the show, we look at three companies he’s traded in that raise ethical flags because of their relationship with the federal government. 

Fact checking by Sierra Juarez.

Your Next Listen 
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