Trump Holds $175,000 in Cheesecake Factory Stock as Obama Mocks White House Gold

Up to $175,000 worth of stock in the Cheesecake Factory was purchased by President Donald Trump last year, according to financial disclosures reviewed by The Daily Beast. This holding emerged during the same period when the White House underwent extensive gold-themed redecorations and the development of a new ballroom. The timing provides context for the president's strong reaction to a joke made by former President Barack Obama on Saturday.

Obama, campaigning for Ohio Democratic gubernatorial candidate Amy Acton in Cleveland, targeted the White House's aesthetic choices. He told the crowd that the residence looked like "Saddam Hussein opened a Cheesecake Factory." The former president pointed to the abundance of gold in the interior, suggesting the focus on home renovations indicated a lack of attention to lowering prices for voters.

Trump responded to the criticism on Monday at a rally in Mississippi. He described the restaurant chain as "a very successful business" and argued that only a "lousy president" would run the country the way Obama did. The president stated he would try to explain the logic of the renovations to Obama but implied his predecessor would not understand.

The trading activity began shortly after Trump returned to office in January 2025. He made three separate purchases of between $1,001 and $15,000 in shares during January and February. Additional buys of between $15,001 and $50,000 occurred in March and April, followed by another smaller round in April. Sales of similar amounts took place in May and November 2025.

White House spokesperson Davis Ingle addressed the holdings in a statement to HuffPost on Wednesday. He said all investments by the president and his immediate family are managed by third-party financial institutions. Ingle stated that neither the president nor his family members can direct, influence, or provide input on how the portfolio is invested or when trades occur.

The spokesperson added that all investment decisions are made entirely by independent managers and that there are no conflicts of interest. Trump reportedly still held up to $50,000 in Cheesecake Factory shares as of December 31, 2025. The president has also characterized the nationwide affordability crisis as a "con job" created by Democrats, noting that the issue has been worsened by his costly ongoing war on Iran.