Trump Purchased Up To $175,000 in Cheesecake Factory Stock, Report Claims
New financial disclosures indicate the former president invested in the restaurant chain around the time he was reportedly redecorating the White House with gold.
Donald Trump purchased up to $175,000 worth of stock in The Cheesecake Factory last year, according to a report by The Daily Beast citing financial disclosures. The timing of these investments coincides with the period when Trump was undertaking extensive renovations of the White House, including a gold-themed redecoration of the Oval Office and the development of a new ballroom.
These revelations emerged following remarks by former President Barack Obama at a midterm rally in Ohio. Obama joked that Trump had made the White House "look like Saddam Hussein opened a Cheesecake Factory,” adding, "Just gold everywhere! So, he’s clearly not focused on lowering prices for you."
Trump appeared to take offense to the comparison, particularly the mention of The Cheesecake Factory. Speaking to reporters at a Mississippi rally, he called Obama a "lousy president" and argued that the restaurant chain is "a very successful business." Trump suggested Obama would not understand, stating, "I would try and explain that to a guy like Obama, but he wouldn’t understand."
According to the financial disclosures reviewed by The Daily Beast, Trump made several purchases of Cheesecake Factory shares in January and February 2025, ranging from $1,001 to $15,000 per transaction. He later bought shares in March and April 2025, with transactions between $15,001 and $50,000, and another between $1,001 and $15,000. He reportedly sold between $15,001 and $50,000 worth of shares in May 2025 and a similar amount in November of the same year.
Trump has a history of publicly praising companies in which he holds a financial stake. A White House spokesperson, Davis Ingle, stated that all of Trump’s investments, including those of his immediate family, are "independently managed by third-party financial institutions." Ingle added that neither Trump nor his family members have any influence over investment decisions, and "there are no conflicts of interest."
Despite these assurances, Trump has accumulated significant wealth since returning to office in 2025. He has also frequently downplayed the impact of the nationwide affordability crisis, which has been exacerbated by his administration's policies, calling it a "con job" by Democrats. Financial disclosures indicate that Trump reportedly still held up to $50,000 in Cheesecake Factory shares as of December 31, 2025.