In July, the financial managers overseeing President Trump's personal portfolio executed more than 1,100 stock trades—a volume that, by some measures, surpasses the combined trading activity of the entire United States Congress. Regulatory filings, the quiet machinery of democratic transparency, have surfaced this activity for public consideration, revealing sales of Microsoft and Amazon shares reaching $25 million per transaction. The disclosure invites an older question that democracies have never fully resolved: how does a person of vast, actively managed wealth govern without the shadow of