A Billionaire Trump Supporter Is Buying These Two Stocks

Investor John Paulson (Rob Kim/Getty Images)

Billionaire investor John Paulson, who operates a family office that was converted from a hedge fund, recently bought more shares of pharmaceutical company Bausch Health and mining-properties firm Perpetua Resources. Paulson has representation on the boards of both companies.

Paulson, who hosted a fundraiser for Donald Trump ahead of the November presidential election, was seen as a candidate for Treasury secretary should Trump win a second term. Paulson dropped out of the running in mid-November, saying that his “complex financial obligations would prevent me from holding an official position in President Trump’s administration at this time.” That cleared the way for Trump to name Scott Bessent to the post.

Funds controlled by Paulson paid $35.9 from June 10 through 13 for a total of 6,352,667 more Bausch shares, an average price of $5.65 each. His funds now own 32.8 million Bausch shares—an 8.9% stake—through investments, according to a form Paulson filed with the Securities and Exchange Commission.

Paulson didn’t respond to a request for comment on stock purchases.

On June 16, Paulson funds paid $100 million for 7.6 million more shares of Perpetua, a price of $13.20 each. The purchase was a private placement that was conducted concurrently with a $325 million public offering of stock at the same price. Paulson funds now own 32.3 million Perpetrua shares, a 31.2% stake.

Paulson serves as Bausch’s nonexecutive chairperson, while Marcelo Kim, a partner at the Paulson & Co. family office, serves as chairman of Perpetua.

This year has been a tale of two cities for Bausch and Perpetua stock. Bausch stock has lost about 23% of its value so far in 2025**,** while shares of Perpetua have surged 22%. The S&P 500 index has gained about 1.5% year to date.

In May, Raymond James lowered its price target on Bausch stock to $8 from $9, citing higher interest costs and tariff uncertainty for the Laval, Quebec-based company. Formerly known as Midas Gold, the Boise, Idaho-based Perpetua says it is “working to provide the U.S. with its only source of the critical mineral antimony, operate one of the highest-grade open-pit gold mines in the country and restore and redevelop an area abandoned after 100 years of mining activity.”

Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at ed.lin@barrons.com