- Donald Trump bought up to $5 million worth of Axon’s shares in February.
- Two weeks later, ICE put out a $220 million contract seeking weapons that appeared to be tailored to the Taser maker’s products.
- The White House has stated that Trump’s investments are managed by independent third-party firms.
US President Donald Trump bought up to $5 million worth of shares in Axon Enterprises, two weeks before Immigration and Customs Enforcement (ICE) sought a $220 million, five-year contract that appeared to be tailored to the Taser maker's weapons.
On February 10, Trump bought between $1 million and $5 million worth of Axon stock, federal disclosures filed in May stated. Two weeks later, ICE posted a notice seeking almost 17,800 new Tasers, as well as unlimited cartridges and training.
While the notice does not name Axon, it calls for “conductive-energy weapons” with capabilities and specifications that experts told CNBC matched only the Taser maker.
The notice refers to an upgrade of Axon's T10 or Taser 10 model to replace ICE's older X26P/X2 Tasers. It also specifies features associated with the T-10, such as a range of 45 feet and 10 individually targeted probes, which experts say would foreclose other bidders.
Axon already supplies the federal government with Tasers. If the deal is finalised, the new purchase would increase ICE's current Taser arsenal by more than four times, replacing almost 4,300 devices in the field.
There is no evidence that Trump was involved in or had knowledge of the procurement process, CNBC reported. There is also no proof that contracting officials or even Axon knew about the president's stock purchase.
Trump bought the shares on February 10, but the purchase came to light only after his financial disclosure was released last month. As of now, no contract has been awarded, and since the notice was a “Request For Information”, there is no public record showing if any vendors responded.
However, the timing of the notice raises conflict of interest concerns.
Jordan Libowitz, vice president of communications at Citizens for Responsibility and Ethics, a non-partisan watchdog, told CNBC, “The concern is that [Trump] bought into a company whose business could grow if his own administration expands immigration enforcement.”
The White House has stated that Trump's assets are held in a trust that is managed by his children and that the president's investments are managed by independent third-party firms, not anyone else.
Donald Trump's 2026 Stock Trades
A series of filings revealed over 4,000 transactions in the first three months of the year by Trump, Forbes reported. This amounts to an average of 44 trades per day, almost three times more than all of last year combined. Unlike previous presidents, Trump has stakes in the equities markets, purchasing and offloading scores of corporate shares. His biggest wins were tech companies that have made a profit in the AI boom.
