Hailey Whitlock, Staff Writer 

On Apr. 15, 2025, the Trump Media and Technology Group, the social media company President Trump founded following his first four years in office, announced the decision to join with Yorkville American Equities and Index Technologies Group to launch Truth Social advertised as Separately Managed Accounts. This choice to join two investment banks in selling investment accounts under the Truth Social name has been heavily scrutinized. While some, such as the CEO of Yorkville American Equities and a managing partner of ITG praised the move, others criticized it and cited a conflict of interest. 

Nevertheless, before reviewing the arguments for and against the investment accounts, it is essential to understand what they are. As stated by Barrons, these investment accounts are focused on, “Offering investors access to curated, thematic investment strategies rooted in American values and priorities.” Some of these priorities include faith and values, liberty and security, energy independence and made in America. Per Barrons, the Trump Media and Technology Group’s CEO Devin Nunes stated, “We’re moving forward with a series of America First investment products that meet investors’ demand to support a wide range of outstanding, non-woke, and innovative companies across sectors of the U.S. economy.” 

Further, the executives at Yorkville American Equities and Index Technology Group weighed in on the proposed investment accounts. As reported by Markets Insider, the CEO of Yorkville American Equities, Troy Rillo, said of the launch, “Yorkville American Equities, TMTG, and ITG bring together deep expertise in asset management, media and technology to develop a distinctive investment offering that meets the evolving needs of today’s investors. These investment strategies are designed to provide exclusive access to American innovation, aligning capital with companies that reflect the values and future of this country.” 

John DuPrau, managing partner at ITG, echoes this sentiment. Newsweek reports that DuPrau made a statement addressing the shift which is as follows: “At a time when the foundations of American prosperity are shifting, it’s critical that our investment strategies reflect the values that define us. Made in America is more than just a theme – it’s a declaration of support for businesses essential to our economy, national security and enduring freedoms. These strategies allow investors to align their portfolios with patriotic and ethical convictions.” 
However, not everyone agrees with the assessment that these new investment accounts will prompt positive, ethical action. The key argument against these accounts is that President Trump owns over 50% of the Trump Media and Technology Group. In selling these investment accounts, a tremendous conflict of interest is encountered; the president is encouraged to use private information and/or make economic decisions in our government that align with these investment accounts in an endeavor to maximize profit. More importantly, as the president, he has the power to do so, a feat illustrated by the recent tariffs. A quote that keenly sums up the stance that these investment accounts are morally bankrupt is found in Raw Story. As reported, independent journalist Judd Legum postulated, “Trump, as President, will also be able to significantly influence the performance of these assets through tariffs and other policies. It is a jaw-dropping conflict of interest for actively managed investment accounts to be marketed under the president’s name through a company that is majority-owned by the president.”