原文标题：川普持股曝光！手握“辉达、苹果”等公司股票 美媒质疑介入产业
原文连结：https://www.ettoday.net/news/20250819/3017993.htm
发布时间：2025年08月19日 12:42
记者署名：记者罗翊宬／综合报导
原文内容：
美国总统川普在推动科技政策时，持有辉达（Nvidia）、苹果（Apple）等科技公司股票
，引发外界关注其财务利益与政策决策是否有交集。最新财务揭露，川普持股总额达百万
美元，政策动向与个人投资可能产生利益关联，但白宫强调并无利益冲突。
根据美媒《华盛顿邮报》，川普向美国联邦政府道德办公室提交的投资文件显示，截至去
年底，他持有辉达股票介于61万5000至130万美元、苹果股票则介于65万至135万美元。近
期，川普允许辉达恢复对中国销售人工智能（AI）芯片，条件是美国政府可抽取15％营收
分成；超微（AMD）亦受惠于类似协议。批评者指出，这类协议前所未有，可能存在宪法
疑虑。
此外，川普在白宫会议上强调，苹果因承诺在美国投资而获豁免100％半导体关税，会中
苹果执行长库克（Tim Cook）还赠送川普24K金底座的纪念匾。川普目前的资产由子女管
理的信托持有，但非真正的盲目信托，因此他仍可能知悉投资细节。白宫发言人安娜‧凯
利（Anna Kelly）强调，“不存在利益冲突”。
财务文件显示，川普持股涉及数百家公司，但仅少数公司的持股超过60万美元，包括辉达
、苹果、微软（Microsoft）、黑石（Blackstone）及其自有公司，如川普媒体与科技集
团。虽然个股价值相较房地产与加密货币不算大，但政策决策仍可能影响科技公司获利。
川普也曾表示，股市因其政策有涨有跌，包括今年4月宣布全面关税后引发的市场下跌。
辉达因政策转向预计可获数十亿美元收益，该公司曾指出，若非中国出口禁令，仅第一季
H20芯片销售额就可达71亿美元。7月15日商务部宣布恢复对华销售当天，辉达股价首次突
破170美元，市值超过4兆美元。
白宫发言人德赛（Kush Desai）强调，对中国的销售并不会损害美国国家与经济安全，反
而巩固美国科技在全球的主导地位。苹果股价在库克访问白宫后上涨13％，创2020年7月
以来最佳表现。
川普集团回应，所有投资皆由外部金融机构独立管理，川普及家人无法过问或影响持股操
作。辉达表示，川普与该公司的讨论完全聚焦在“对美国最有利政策”，苹果则未回应置
评请求。
分析指出，川普股票组合偏重大型科技公司，包括辉达、微软、苹果、博通（Broadcom）
、Alphabet、亚马逊（Amazon）与Meta等，意味政策若提升科技公司获利，川普可能因此
获益。近两年，川普对辉达投资明显增加，2023年仅持股约3万美元，2024年中期申报则
为55万至110万美元。
川普近期多次称赞辉达执行长黄仁勋“了不起”，但他坦言直到第二任期才熟悉该公司，
并透露，“我当时问，‘辉达到底是什么鬼？我以前从没听过。’”
心得/评论：
持股以大型科技股和贝莱德为主
看起来就很普通的投资
这也能批评
新闻原文
Trump, an active intervenor in tech, reported holdings in Nvidia, Apple
https://tinyurl.com/yfu662x3 The Washington Post
Trump, an active intervenor in tech, reported holdings in Nvidia, Apple
川普在科技产业中积极干预，而其申报资产显示持有辉达（Nvidia）、苹果（Apple）股
票。
The president’s latest financial disclosure lays out significant investments
in a sector where he has exerted unprecedented influence.
总统最新的财务揭露显示，他在一个自己施加前所未有影响力的产业拥有可观投资。
President Donald Trump’s increasingly aggressive intervention in the U.S.
technology sector has come even though his financial disclosure forms show
significant holdings in some of the companies most directly affected by his
efforts, including Apple and Nvidia.
尽管财务申报显示他持有多家直接受其政策影响公司的重要部位（包括苹果与辉达），川
普仍日益强势地介入美国科技产业。
Trump’s latest investment filing with the U.S. Office of Government Ethics
showed that he owned between $615,000 and $1.3 million in Nvidia shares at the
end of last year, and $650,000 to $1.35 million of Apple stock.
向美国政府道德办公室（OGE）提交的最新投资申报显示，截至去年底他持有61.5万至130
万美元的辉达股票，以及65万至135万美元的苹果股票。
Nvidia and Apple have both recently benefited from special concessions Trump
has made to tech companies. This week he confirmed that he was allowing Nvidia
… to resume… AI chips to China in exchange for a 15 percent cut of resulting
revenue for the U.S. government… also applies to AMD… unprecedented and
potentially unconstitutional.
近期辉达与苹果都受惠于川普给科技业的特殊让步。本周他证实允许辉达恢复对中国销售
特定AI芯片，条件是美国政府可分得该等销售收入的15%；此安排也适用于超微（AMD）。
批评者称此举前所未见，且可能违宪。
Last week, Trump called out Apple among the companies exempted from 100
percent semiconductor tariffs, citing its domestic investment commitments…
Tim Cook gave him a plaque with a 24-karat gold base.
上周，川普点名苹果属于免于“100%半导体关税”的公司之一，理由是其在美投资承诺；
同日库克在白宫致赠一块以24K金为底座的匾额。
U.S. presidents since Jimmy Carter… have avoided financial conflicts by
putting assets in a blind trust… not required by law, and Trump has rejected
calls to divest his stocks.
自卡特以来的美国总统通常以“盲目信托”方式避免利益冲突——法律并未强制，但川普
拒绝出清其持股。
For his second presidency… assets are held in a trust managed by his children
… falls short of a blind trust… “There are no conflicts of interest,”
White House spokeswoman Anna Kelly said.
在他的第二任期中，资产由其子女管理的信托持有——此安排不及盲目信托的防火墙。白
宫发言人表示：“不存在利益冲突。”
Trump held stock in hundreds of companies… only a small number exceeded $600,
000, including Nvidia, Apple, Microsoft and Blackstone…
川普持有数百家公司股票，仅少数部位超过60万美元，
包括辉达、苹果、微软与贝莱德等。
Trump’s individual stock holdings are small… compared with his real estate
and crypto… no evidence that he has made policy decisions based on his
personal stock earnings…
与其房地产与加密资产相比，川普的单一持股金额相对较小；目前也无证据显示他因个人
股利而制定政策。
The president’s policies have caused stocks to go both up and down… sharp
downturn in early April after he announced sweeping tariffs…
总统的政策让股市涨跌互见——四月初宣布全面关税后，市场一度急挫。
Due to lagging disclosure requirements… reflects portfolio as of Dec. 31…
White House declined to say whether Trump still held…
由于揭露有时滞，这份申报反映的是12月31日的持仓；白宫拒绝说明今年是否仍持有相同
部位。
“President Trump is the first president in modern history to have lost money
after leaving the White House,” …
“川普总统是现代史上少数离任后反而赔钱的总统之一，与他人靠演讲与出书累积巨额财
富形成鲜明对比。”（白宫说法）
A spokesperson for the Trump Organization said… decisions were made entirely
by independent managers… model portfolios that automatically replicate
recognized indexes.
川普集团表示，所有投资决策完全由独立经理人做出，采用电脑模型投资组合自动复制指
数。
Nvidia stands to earn billions… previously said it would have sold $7.1B in
H20 chips… stock price climbed past $170 on July 15… after Commerce
Secretary Howard Lutnick announced…
辉达可望因政策逆转而获数十亿美元营收；公司先前称若非出口禁令，仅第一季H20就能
卖出71亿美元。7月15日商务部长Lutnick宣布松绑后，辉达股价首度站上170美元。
Apple’s stock had its best week since July 2020 after Cook’s visit to the
White House, rising 13 percent.
库克赴白宫后，苹果股价单周上涨13%，创2020年7月以来最佳周表现。
Trump has followed stock market moves avidly… “NVIDIA IS UP 47% SINCE TRUMP
TARIFFS,” he posted July 10… first company to close with a $4T valuation.
川普密切关注股市，7月10日发文称“自关税以来辉达已上涨47%”；当日收盘辉达市值首
度收在4兆美元以上。
“The President’s discussions with Nvidia have always focused entirely on
policies…,” Nvidia said.
辉达表示，与总统的讨论一向完全聚焦于其认为符合美国利益的政策。
The Trump Organization said in January… managed independently… guidelines
did not say Trump was prohibited from knowing what stocks were in his
portfolio.
川普集团今年1月称资产配置改为外部机构独立管理；但准则未禁止川普知悉投资组合内
的持股。
In April, Trump urged his older sons… to fire the lawyer overseeing that
arrangement… The Trump Organization has since retained Karina Lynch of DLA
Piper as its external ethics adviser.
4月，川普要求长子们撤换监督该安排的律师；其后改聘DLA Piper的Karina Lynch为外部
伦理顾问。
On Wednesday, Scott Bessent, Trump’s treasury secretary, said he was “
pushing for a ban on single-stock trading in Congress”…
本周三，财长史考特・贝森特（Scott Bessent）表示正推动“禁止国会议员交易个股”
。
But last month, Trump attacked Sen. Josh Hawley… after Hawley backed a bill
banning elected officials from trading stocks… Hawley responded… “
explicitly exempts you and your assets,” according to CNN.
但上月川普抨击力挺禁股法案的参议员乔许・霍利；霍利回应称该法案“明确豁免总统与
其资产”。
Public scrutiny… has largely focused on… golf courses, hotels… But the
Nvidia and Apple cases show how the president’s stock portfolio also
intersects with high-stakes policy decisions…
外界对川普商业利益的检视多聚焦其球场、饭店等，但辉达与苹果案显示其持股也与高风
险政策决策相交。
In general, Trump’s stock portfolio… skewed toward Big Tech… Nvidia,
Microsoft, Apple, Broadcom, Alphabet, Amazon, Meta…
整体而言，川普持股如多数美国投资人一样偏向大型科技：辉达、微软、苹果、博通、
Alphabet、亚马逊、Meta等。
Trump appears to have invested more in Nvidia within the past two years…
过去两年他似乎加码辉达部位（依不同时点的申报区间推估）。
In recent weeks, Trump has singled out Nvidia for praise… “I said, ‘What
the hell is Nvidia?’ …”
近数周他多次点名称赞辉达与其执行长黄仁勋；他并称直到第二任期前对该公司并不熟悉
。