JPMorgan, Schwab, UBS and Stephens Inc. manage Trump's $858 million portfolio. That's four firms. Four separate firms to handle one guy's money. Because apparently when you have $858 million you can't just pick up the phone and call one wealth manager like some peasant with only $200 million.
The diversification here is stunning. Not the asset diversification. The manager diversification. Spread your wealth across multiple firms so if one of them f*cks up, you still have three other teams of people in expensive suits telling you to buy bonds.
CNBC did an analysis to figure this out. An analysis. They looked at publicly available financial disclosures and counted to four. Pulitzer-worthy stuff.
Here's what kills me. Retail traders with $8,000 in their Robinhood account spend six hours a day watching YouTube videos about gamma squeezes and whether they should move their life savings into leveraged ETFs. This guy has a hundred thousand times that amount and just pays four different companies to do whatever the hell wealth managers do, which is mostly talk about golf and rebalance into municipal bonds.
The accounts are worth "at least" $858 million. At least. Could be more. Could be a billion. Who knows. The exact number doesn't matter when you've outsourced counting your money to four separate organizations.
Meanwhile some guy named Derek just put his entire net worth into 0DTE calls because a Discord mod said Mercury was in retrograde. Derek has one brokerage account and checks it every four minutes. Trump has four brokerage firms and probably couldn't name a single person who works at any of them.
But sure, keep telling yourself you're going to day-trade your way into this tax bracket.
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