UH OH! Snopes Ranks NYT Claim About Hydroxychloroquine “Mostly False”

The liberal media is at it again with their fake news about President Trump, this time even going as far as claiming that POTUS is trying to make money off of the antimalarial drug called hydroxychloroquine, which is being used to treat the coronavirus. 

The New York Times published the story alleging that President Trump was profiting financially off of the treatment for the coronavirus, because he had a financial stake as little as $99 in a French Pharmaceutical company that produces the antimalarial drug.


Despite making such a bold accusation, the New York Times failed to offer critical details like the amount of his financial stake just to make Trump look bad, forcing Snopes to hit the news outlet with a “mostly false” rating for their blatant lies in the article.

Check out what the Daily Caller reported below:

Snopes fact-checked a New York Times article that argued that President Donald Trump could stand to benefit financially from hydroxychloroquine being used to treat coronavirus patients, deeming the article “mostly false.”

The New York Times published an article Tuesday mentioning the president’s small financial stake Sanofi, a French  pharmaceutical company that produces the anti-malaria drug that has shown to be effective in treating the virus. Trump’s personal stake in the company is estimated to be as small as $99. The president’s net worth is estimated to be between 3 and $4 billion.

In the article debunking the claims from the New York Times, the left-leaning media outlet detailed multiple important omissions and errors that were made in spite of President Trump.

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Check out what Snopes reported below:


What's True

U.S. President Donald Trump earns some income from three family trusts that are administered independently by J.P. Morgan, an investment bank and wealth-management firm. These trusts are in part invested in mutual funds that themselves are partially invested in companies that produce hydroxychloroquine.

What's False

Trump’s financial stake in these companies is virtually negligible — contained indirectly via mutual funds — and administered through three family trusts he does not control. As a generic drug, hydroxychloroquine is unlikely to provide any one company with significant profits compared to other proprietary drugs.

Since President Trump touted the antimalarial drug earlier on for its potential in treating the coronavirus despite its lack of clinical trials, backlash from Democrats has spread nationwide, but the drug continues to show promising results.

Last week, the results of a game-changing poll were released, showing that thousands of doctors across the globe who are treating patients with the coronavirus, believe that hydroxychloroquine is the ‘most effective therapy’ for doing so.

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Although there is an abundance of evidence to the contrary of their claims, Democrats continue to attack President Trump for his high hopes in hydroxychloroquine, all the while politicizing the coronavirus.

What are your thoughts on the accusations made by The New York Times? Let us know in the comments below!