In today’s ever-evolving political landscape, the Trump family’s financial empire continues to expand dramatically, now propelled by President Trump’s return to office. In just the past month, more than $2 billion has flowed into Trumplandia through various ventures including real estate, a personal cryptocurrency, and an exclusive private club due to open in Washington, D.C., boasting a membership fee of $500,000. Furthermore, rumors are swirling that Qatar might be gifting Trump a new presidential airplane.
However, the implications of such wealth accumulation raise eyebrows. Trump finds himself in the paradoxical position of being both Commander in Chief and a business magnate with overseas partnerships spanning Serbia, the United Arab Emirates, and Oman. The White House claims his sons operate his businesses, theoretically eliminating any ethical conflicts. Legally, they may be correct, but the potential for corruption looms large, as the lines between business interests and policy decisions blur.
This newsletter takes you on an insightful journey through the latest deals that are feathering the Trump’s nests.
The Cryptocurrency Craze
- $TRUMP, the family’s dedicated cryptocurrency, is both owned by the president and managed by Donald Trump Jr. With no intrinsic value apart from what investors are willing to pay, it is likened to a collectible — much like a vintage baseball card. Remarkably, when buyers invest in a coin that hovers around $13, a portion of that revenue fills the Trump coffers. Recently, Trump incentivized purchases by inviting the top 220 coin buyers to dine with him at his Virginia golf club, while the top 25 winners get a tour of the White House. Collectively, these lucky winners splurged $174 million on $TRUMP coins.
- The United Arab Emirates has made headlines by investing a staggering $2 billion into World Liberty Financial, the Trump family’s new cryptocurrency venture. Under the stewardship of Eric and Donald Trump Jr., this investment is expected to yield tens of millions of dollars annually.
A Real Estate Renaissance
- Qatar has also played a significant role, financing a luxurious Trump-branded beachside golf and villa project worth $5.5 billion. The exact amount of Qatar’s contribution remains undisclosed, but the financial rewards funneling into the Trump family through licensing and management fees are predicted to be substantial.
- Saudi Arabian Interests have also aligned with the Trumps, as a closely tied real estate firm poured $1 billion into the Trump International Hotel and Tower project in Dubai. This partnership aims to bring forth new hotels, golf courses, and luxury towers in Saudi Arabia and Oman—all for the prestigious Trump brand.
- In a historical twist, land leased to Jared Kushner—Trump’s son-in-law—by Serbia’s president will soon host a Trump hotel. Funded extensively by Middle Eastern sovereign wealth, this $1 billion project stands to enrich the family even further.
Diverse Deals in the Making
- A Luxurious Aircraft: Qatar is reportedly gifting Trump a $400 million Boeing 747, setting it apart as a temporary Air Force One during his presidency.
- Exclusive Club Access: This summer, a private social club named the Executive Branch will open its doors in Georgetown, welcoming lobbyists, tech leaders, and influential White House connections. Membership comes at a price of $500,000.
- Golfing Glory: The new LIV Golf league, under Saudi backing, hosted a professional tournament at Trump National Doral last month, drawing thousands of spectators to the resort and officially enriching Trump’s business.
- Resumed Revenue: Throughout Trump’s initial term, significant payments flowed from dignitaries and Republican groups to Trump properties, a trend that appears to be reestablishing itself as the Republican National Committee actively hosts events at Trump’s resorts.
This wealth generation raises ethical questions that cannot be overlooked. While Trump seeks to impose ethics policies, Republicans on Capitol Hill seem unlikely to challenge him.
For a deeper understanding, Michael Shear of The New York Times delves into Trump’s dynamic with Saudi Arabia. While Trump meets various leaders in the Gulf, his apparent fascination with the Saudi royal family continues to flourish. Let’s explore three compelling reasons for this bond:
- Opulence: During his inaugural 2017 trip to Saudi Arabia, the luxurious extravagance overwhelmed even the most seasoned reporters. This current trip mirrors that opulence and has evidently captivated Trump.
- Business Synergy: Trump’s foray into Riyadh resembles a series of high-stakes boardroom meetings, where he grapples with robust leaders who operate under minimal constraints, particularly Crown Prince Mohammed bin Salman.
- Exquisite Wealth: Saudi Arabia’s oil wealth represents a tantalizing prospect for any businessman. Trump has never hesitated to compliment the economic prowess of his Saudi counterparts while promoting the attractiveness of American markets.
In conclusion, as the boundaries between politics and business continue to blur, the question remains: at what point does financial profit cross the line into ethical violation? As these ventures unfold, they are as illuminating as they are concerning.
