President Trump invested up to $1 million in Victoria’s Secret bonds in late 2025, sparking questions about potential conflicts of interest given the company’s ties to Jeffrey Epstein associate Les Wexner, who faces upcoming Congressional testimony.
According to reporting from The Daily Beast, President Donald Trump has made a curious investment that’s raising eyebrows across Washington—he’s put up to $1 million into Victoria’s Secret corporate bonds. Between mid-November and mid-December 2025, the 79-year-old president made two separate purchases of company bonds valued between $250,001 and $500,001 each, according to documents filed with the U.S. Office of Government Ethics.
But here’s where it gets interesting: the timing couldn’t be more awkward. Victoria’s Secret was formerly headed by billionaire Les Wexner, who just happens to have close ties to Jeffrey Epstein and has been subpoenaed by the House Oversight Committee to discuss that very relationship. Wexner served as Epstein’s largest financial services client, employing him as his financial manager from 1987 to 2007, and has faced accusations of failing to act on sexual assault complaints about Epstein in the mid-1990s.
Some observers are wondering if this is just a smart bet on a company whose stock has surged 225 percent in six months, or something more questionable—as Los Angeles Times columnist Patt Morrison quipped, “Is he planning a July 4 lingerie show on his new White House paved patio to celebrate American independence?” Others have suggested the investment might be designed to influence Wexner’s upcoming Congressional testimony.
Trump himself attended Victoria’s Secret “Secret Angels” parties in the 1990s and was photographed with Epstein there on multiple occasions, though he’s denied any wrongdoing and hasn’t been accused by any Epstein survivors. With Congress now pushing the bipartisan “Restore Trust in Congress Act” to ban stock trading by elected officials—and co-sponsor Sen. Kirsten Gillibrand arguing the president “should be held to the same standard”—Trump’s lingerie investment is raising serious questions about conflicts of interest and personal enrichment while in office.