Will Trump Make Money with COVID-19 Treatment?
The misinformation is flying high! Just head on over to social media. Any social media and you'll find all kinds of claims. Here is one claim that has recently popped up:
Donald Trump stand to make a ton of money with the apparent COVID-19 treatment that he keeps talking about, hydroxychloroquine.
Here is why people are making this claim:
Trump has links to a company that makes hydroxychloroquine. That part is true. But here's why jumping to the conclusion that he is pushing this "miracle cure" to make a ton of money is dangerous. Allow me to let Snopes take over from this point because they sum it up perfectly.
U.S. President Donald Trump earns some income from three family trusts that are administered independently by J.P. Morgan, an investment bank and wealth-management firm. These trusts are in part invested in mutual funds that themselves are partially invested in companies that produce hydroxychloroquine.
Trump’s financial stake in these companies is virtually negligible — contained indirectly via mutual funds — and administered through three family trusts he does not control. As a generic drug, hydroxychloroquine is unlikely to provide any one company with significant profits compared to other proprietary drugs.
So, just in case you need this simplified for you...
NO, HE WILL NOT