Karoline Leavitt disclosed a Trump Media stake worth up to $15,000 in a financial filing that also listed Tesla and other stocks
A new ethics document reviewed shows that Karoline Leavitt‘s family investments during her public service included stock in President Donald Trump‘s social media company. Leavitt disclosed an investment worth between $1,001 and $15,000 in Trump Media & Technology Group, which operates Trump’s Truth Social platform.
The document reflects the financial holdings of Leavitt and her husband, Nicholas Riccio, as of December 31, 2025. Filers are required to report asset values in broad ranges, so the exact value of the Trump Media stake is unknown.
The filing does not specify whether Leavitt or Riccio owns the disclosed stocks individually or jointly. The White House said on September 29 that Riccio owns the shares.
Other holdings in the filing
The Trump Media stake was one of many entries. Leavitt reported stock worth similar amounts in defense contractors Boeing and RTX, formerly known as Raytheon. She also reported shares in oil companies ExxonMobil and Occidental Petroleum, technology companies Advanced Micro Devices, Nvidia and Serve Robotics, financial platform Robinhood Markets and steelmaker United States Steel.
The filing also listed a larger Tesla position worth between $50,001 and $100,000. It states that Riccio owns three real estate companies but does not provide their value or income.
White House and ethics office respond
White House counsel Will Scharf said that his office regularly works with appointees on ethics guidance and compliance. He said the office believes Leavitt met the requirements and has “no further concerns.”
Patrick Shepherd, a spokesperson for the Office of Government Ethics, declined to comment, saying the agency does not respond to questions about specific individuals.
The Tesla stake and its political backdrop
Tesla is led by Elon Musk, who oversaw the Department of Government Efficiency (DOGE) for part of 2025. In March 2025, Trump turned the White House lawn into a Tesla showroom and urged Americans to buy Musk’s vehicles as the company’s stock fell amid backlash over Musk’s DOGE role.
Leavitt periodically spoke about Tesla as press secretary. In March 2025, she defended the company, its stock and Trump, saying the president supported an American-made company with a product Americans and Democrats in particular had admired until Musk voted for Trump.
The Tesla holding was previously reported. In June 2025, Leavitt’s Tesla stake, worth $50,000 to $100,000, was the largest among the staffers whose reports were reviewed, the outlet said. About 10% of 121 staff reports showed Tesla shares. That report also noted smaller investments by Leavitt in Raytheon, Boeing and Trump Media.
White House spokesperson Taylor Rogers said in a statement to the outlet that senior staff had completed the required ethics briefings and financial reporting. Leavitt’s own New Entrant Report listed her appointment date as January 20, 2025. She signed it electronically on May 19, 2025, after a 90-day filing extension. A government ethics official certified it on June 12, 2025.
What federal rules require
Federal law and regulations generally bar executive branch employees from participating in their official capacity in matters involving a personal financial interest. Exemptions include one for investments with a “de minimis” value of $15,000 or less. The reported Trump Media range tops out at that threshold, while the Tesla range starts above it.
High-ranking administration officials must file annual financial disclosures to identify potential conflicts of interest. The reports must cover the filer, their spouse and any dependent children.
Leavitt did not sign a formal ethics agreement addressing financial conflicts while in government. Such agreements are common for Cabinet secretaries and other high-ranking appointees, but White House staffers are generally exempt.
How Leavitt left the podium
Leavitt took the podium on January 20, 2025, the day of Trump’s second inauguration, becoming the youngest press secretary in U.S. history. Trump announced her departure in a Truth Social post, saying she was leaving to spend more time with her young children and would become “one of my top outside advisors.”
Leavitt gave birth to her second child, a daughter named Viviana. She returned to the White House briefing room on July 16. In a statement, she said she could not be the mother her children deserved while doing the job.