.President Donald Trump is in lingerie.
According to documents filed with the U.S. Office of Government Ethics, the president recently bought up to $1 million in corporate bonds in Victoria’s Secret, the famed underwear and beauty retailer.
Between mid-November and mid-December last year, the 79-year-old made two purchases in the brand, valued between $250,001 and $500,001, as part of a spending spree on financial investments worth up to $160 million.
Victoria’s Secret, which has seen a 225 percent increase in its share price over the last six months, is the business formerly headed by Les Wexner, a billionaire with close ties to Jeffrey Epstein.
Wexner was recently subpoenaed by the House Oversight Committee to discuss his relationship with Epstein, who served as his financial manager from 1987 to 2007.
Trump has never been in a financial relationship with Wexner or Victoria’s Secret before, but he did attend a number of the company’s “Secret Angels” parties in the 1990s, where he was photographed with Epstein on at least two occasions.
Both Trump and Wexner allegedly wrote notes that were included in Epstein’s infamous 50th birthday book.
The bond buys sparked online speculation, with Los Angeles Times columnist Patt Morrison asking whether Trump was planning to bring Victoria’s Secret models to the White House.
“Is he planning a July 4 lingerie show on his new White House paved patio to celebrate American independence?” Morrison wrote.
Is he planning a July 4 lingerie show on his new White House paved patio to celebrate American independence? https://t.co/xlpjmkAlNZ
— Patt “Bluechecked” Morrison (@pattmlatimes) January 17, 2026
Others, however, argued the purchases might have been a financial incentive to encourage Wexner to “say the right things” at his upcoming Congressional testimony.
Wexner was Epstein’s largest financial services client and has been accused of failing to take action when sexual assault complaints were raised about his friend in the mid-1990s.
Meanwhile, both Trump and the members of his administration have long tried to distance the president from the late sex offender.
Les Wexner and Abigail Wexner.
Astrid Stawiarz/Getty Images for Fragrance Foundation
The president has denied any criminal wrongdoing and has not been accused by any Epstein survivors.
Billionaire Wexner, 88, stepped down as CEO of Victoria’s Secret in 2020, although he maintains a role as chairman emeritus. Commentators wondered whether Trump was aware of this fact.
Personal enrichment by elected officials through financial trading during their time in office has been the subject of significant public scrutiny, with legislators now moving to outlaw the practice.
Didn’t anyone tell him Wexner no longer owns it? https://t.co/kOQUOtb4Y3
— Dan Husko (@DHusko23) January 16, 2026
The “Restore Trust in Congress Act,” introduced on Thursday, is a bipartisan effort to prohibit stock trading among members of Congress, with the Bill’s co-sponsor, Dem. Sen. Kirsten Gillibrand, arguing that the president “should be held to the same standard.”
Trump has a history of attacking the former Speaker of the House, Nancy Pelosi, accusing her of enriching herself with “inside information.”
Since taking office for the second time in January of last year, Trump and his family are estimated to have grown their wealth by almost $4 billion.
The Daily Beast has reached out to the White House for comment.
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