As he assumes the presidency for a second time, Donald Trump brings with him a broad expanse of enterprise relationships and monetary entanglements — and the likelihood that these associations might influence his decision-making within the White Home.
Trump’s workforce dismisses such considerations.
“President Trump eliminated himself from his multibillion-dollar actual property empire to run for workplace and forewent his authorities wage, changing into the primary President to truly lose web value whereas serving within the White Home,” Trump spokesperson Karoline Leavitt stated in an announcement. “In contrast to most politicians, President Trump didn’t get into politics for revenue — he’s combating as a result of he loves the folks of this nation and desires to make America nice once more.”
However questions stay. Right here’s a take a look at the assorted connections and potential conflicts in Trump’s second administration.
Launched in 2021, Winning Team Publishing is run by Donald Trump Jr. and Sergio Gor, a Trump adviser chosen by the president-elect to run the White Home personnel workplace. Gor additionally led the pro-Trump tremendous PAC Proper for America.
Trump has earned no less than $11.6 million in royalties during the last two years from two of his books produced by Profitable Crew, in response to monetary disclosure statements filed with the U.S. Workplace of Authorities Ethics.
“Letters to Trump” is an anthology of correspondence from celebrities and politicians written to him through the years. “Our Journey Together” options a whole bunch of images from his first presidential time period with captions “handpicked” by Trump. One other espresso desk guide, “Save America,” options reminiscences from Trump’s presidential campaigns and time period in workplace, in addition to a prolonged reflection about his brush with dying throughout a July assassination try throughout a rally in Pennsylvania.
Marketing campaign finance data present Trump’s political fundraising committees have paid Profitable Crew Publishing greater than $242,000 for unspecified books and printing companies.
The corporate additionally publishes titles written by Trump’s staunchest supporters, together with GOP Rep. Marjorie Taylor Greene of Georgia, Fox News host Jeanine Pirro and conservative provocateur Charlie Kirk.
Trump’s identify and picture are branded on a dizzying array of merchandise that he promotes and earnings from by licensing agreements, together with Bibles, diamond-encrusted watches, gold-colored sneakers and guitars that value as a lot as $10,000.
Thousands of copies of the “God Bless the USA” Bible Trump sells were printed in China, a rustic he has repeatedly accused of stealing American jobs and fascinating in unfair commerce practices. As president, Trump would be capable to exempt Bibles and different non secular texts from hefty tariffs he’s threatened to impose on imported Chinese language merchandise.
Trump’s endorsement of a line of guitars led to a “stop and desist” letter from Nashville-based Gibson Guitars. An organization consultant stated in a short assertion the design of the Trump guitars infringes upon Gibson’s unique emblems, significantly the physique form of the corporate’s iconic Les Paul mannequin.
Judgments of greater than half a billion {dollars} from civil lawsuits hold over Trump and shall be tougher to keep away from than the felony circumstances introduced by the federal authorities after which deserted after his election in November.
A New York decide ordered Trump and his corporations earlier this 12 months to pay more than $450 million after ruling he had manipulated his web value in monetary statements to safe favorable loans. That penalty got here shortly after Trump was ordered to pay $83.3 million to the author E. Jean Carroll for damaging her repute after she accused him of sexual assault. A separate jury awarded Carroll $5 million from Trump for sexual abuse and defamation.
Trump has appealed the rulings within the fraud case and one of many Carroll circumstances. His newest monetary disclosure record greater than $101 million in liabilities stemming from the 2 circumstances.
As president, Trump can’t pardon himself for penalties imposed in civil circumstances unrelated to his official authorities duties, stated Richard Briffault, a professor at Columbia Law School in New York. And since the trials have already occurred, he’ll have problem arguing the circumstances are an undue burden on his time.
The constellation of high-end golf resorts Trump owns or manages generated a whole bunch of thousands and thousands of {dollars} for him in 2024 and should pull in even better sums as soon as he’s again within the Oval Workplace.
Trump’s monetary disclosure reported near $267 million in “golf-related” earnings, with one other $161 million in mixed “golf and lodge” proceeds from his Doral golf membership in Miami.
Throughout his first time period, Trump incessantly promoted his golf programs and routinely performed at them with a big, taxpayer-funded entourage in tow, resulting in criticism that he was utilizing the facility of the presidency to complement himself. Trump pushed to host the worldwide Group of Seven summit on the Doral property in 2019. But he dropped the plan amid accusations he would violate the emoluments clause of the Structure that bans presidents from receiving presents or funds from international governments.
The golf programs may additionally entice international officers and particular curiosity teams hoping to realize entry and curry favor by spending giant sums at Trump properties.
Mar-a-Lago charges and Secret Service prices
Because the begin of Trump’s first time period in workplace, the associated fee to hitch his personal Mar-a-Lago resort in Palm Seashore, Florida, has soared to $1 million, permitting rich folks to combine pleasure with politics and authorities enterprise throughout his frequent visits to the membership.
Whereas Trump collects earnings from Mar-a-Lago — $111 million during the last two years — he’s been accused of charging the U.S. Secret Service “exorbitant” room charges of greater than $800 per evening for brokers assigned to guard him when he traveled there and to different Trump household properties.
Who Trump meets with whereas at Mar-a-Lago and what he discusses are largely hidden from public view. The Secret Service has no digital methods to display or monitor presidential guests to the property, according to a 2020 federal appeals court ruling.
Trump launched his social media platform, Truth Social, in early 2022, after he was banned from major sites corresponding to Facebook and the platform formerly known as Twitter following the Jan. 6 assault on the U.S. Capitol.
Whereas he’s since been reinstated to both, Trump has usually used Reality Social for extra private commentary, leaving site visitors on X and different platforms for extra formal statements and pronouncements. The corporate hasn’t disclosed what number of customers it has, so it’s exhausting to know the way broad Trump’s attain there may be.
However what is evident is that Trump is the first participant in Trump Media & Know-how Group, which began buying and selling on the NASDAQ inventory market in March. The incoming president has a majority stake within the firm, and stated shortly after his common election win that he had “NO INTENTION OF SELLING” his shares, which have considerably boosted Trump’s web value, and at the moment have been valued at round $3.5 billion.
Trump has promised to make America the “crypto capital of the planet” as he returns to the White Home, a promise that might probably repay for him personally.
Amidst the 2024 marketing campaign, Trump launched a brand new enterprise to commerce cryptocurrencies that he has promoted on the identical social media accounts he used for his marketing campaign. His two eldest sons, Donald Jr. and Eric, have additionally posted about their new platform, known as World Liberty Monetary, as has his daughter-in-law, Lara Trump, who’s married to Eric and likewise serves as co-chair of the Republican Nationwide Committee.
The brand new moneymaking enterprise might explode in worth if Trump pushes by legislative and regulatory adjustments lengthy sought by crypto advocates.
The Countdown To Trump Is On
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Throughout his first time period, Trump stated he was “not a fan” of cryptocurrency however he has since taken a extra favorable view — from announcing in May that the marketing campaign would start accepting donations in cryptocurrency to attending a Bitcoin conference in Nashville, promising to make the U.S. the “crypto capital of the planet” and create a Bitcoin “strategic reserve” utilizing the foreign money that the federal government at present holds.
A number of of Trump’s cupboard nominees, together with Commerce Secretary nominee Howard Lutnick and Trump’s choose for the Securities and Change Fee, Paul Atkins, have substantial cryptocurrency investments.
