Trump bought tobacco stocks and raked in industry donations as FDA eased standards

President Donald Trump expanded his stock investments in tobacco companies this year, holding up to $1.64 million in Philip Morris while also owning shares in Altria and another major tobacco firm. Federal records reveal discrepancies in his disclosures, though the exact extent of his holdings remains unclear. Tobacco industry donations surged in 2025, with $6 million given to MAGA Inc., a pro-Trump super PAC, and an additional $5 million from Reynolds American just days before the FDA issued guidance on April 30 that eased restrictions on flavored e-cigarettes. The Trump administration’s FDA fast-tracked approvals for nicotine pouches and accelerated vapes onto the market, despite opposition from career officials and public health advocates. The agency also reduced staff dedicated to anti-tobacco policies and expanded enforcement against illicit e-cigarettes, which compete with major industry players financially tied to Trump. Critics argue these policies prioritize corporate interests over scientific evidence, ignoring the risks of addiction and harm from tobacco products. Public health leaders, including former FDA official Brian King, condemned the policies as a “lucrative payday” for tobacco companies, calling it a “gift on a platter with a side of public health malpractice.” King, now with the Campaign for Tobacco-Free Kids, warned that steering policy toward tobacco products—despite their dangers—endangers Americans. The White House defended the FDA’s actions, citing recent evidence that vapes and nicotine pouches may help smokers quit, though critics dispute this claim. Philip Morris denied any connection between its donations and regulatory decisions, stating its vapes are a safer alternative to cigarettes. The company did not address Trump’s stock holdings or personal financial disclosures. Other tobacco firms, including Juul, Reynolds American, and Altria, did not respond to requests for comment. The financial ties between Trump and the industry raise ethical questions amid ongoing debates over public health priorities and corporate influence in policymaking.