Donald Trump enters his second term as president with extensive business relationships and financial entanglements that could influence his decisions in the White House. be.
Mr. Trump’s team has denied such concerns. President Trump’s press secretary, Caroline Leavitt, said in a statement: “President Trump stepped away from his multibillion-dollar real estate empire to run and deferred his government salary, making him the first person to actually lose his net worth while in the White House.” He became the president of the “Unlike many politicians, President Trump is not in politics for profit. He is fighting because he loves the people of this country and wants to make America great again. .”
But questions remain. Here’s a look at the various connections and potential conflicts in the second Trump administration.
Launched in 2021, Winning Team Publishing is run by Donald Trump Jr. and Sergio Go, who was selected by the president-elect to be Trump’s chief of staff in charge of the White House Office of Personnel. Goll also led the pro-Trump super PAC Right for America.
Mr. Trump earned at least $11.6 million in royalties over the past two years from two books produced by Winning Team, according to financial disclosure reports filed with the Office of Government Ethics.
“Letters to Trump” is an anthology of letters written to Trump over the years by celebrities and politicians. “Our Journey Together” features hundreds of photos from President Trump’s first term, with the caption “Hand-picked” by Trump. Another coffee table book, “Save America,” includes reminiscences of Trump’s campaign and term, as well as a lengthy reflection on how he prepared for death in an assassination attempt during a rally in Pennsylvania in July. is published.
Trump’s political fundraising committee paid Winning Team Publishing more than $242,000 for unspecified books and printing services, according to campaign finance records.
The company also has titles written by President Trump’s most ardent supporters, including Republican Rep. Marjorie Taylor Greene (Georgia), Fox News host Jeanine Pirro, and conservative provocateur Charlie Kirk. is also published.
Trump’s name and image are branded on a dizzying array of products that he promotes and profits from through licensing deals, including a Bible, a diamond-encrusted watch, gold sneakers and a $10,000 guitar. are.
Thousands of copies of the “God Bless the USA” Bible sold by President Trump are being printed in China, a country he has repeatedly accused of stealing American jobs and engaging in unfair trade practices. . As president, Trump could exempt Bibles and other religious texts from the hefty tariffs he has threatened to impose on Chinese imports.
President Trump’s endorsement of the line of guitars led to a “cease and desist” letter from Nashville-based Gibson Guitars. A company representative said in a brief statement that the Trump guitar design infringes on Gibson’s exclusive trademarks, specifically the body shape of the company’s iconic Les Paul model.
The more than $500 million verdict in the civil case has haunted President Trump and may be harder to avoid than the criminal case brought by the federal government but abandoned after the November presidential election.
Earlier this year, a New York judge ordered Trump and his companies to pay more than $450 million after ruling that the president manipulated net worth in financial statements to secure favorable loans. The punishment comes shortly after President Trump was ordered to pay $83.3 million to author E. Jean Carroll for damaging her reputation by accusing her of sexual assault. Another jury awarded Carroll $5 million from Trump for sexual abuse and defamation.
Mr. Trump has appealed the fraud and Carroll cases. His latest financial disclosure lists more than $101 million in debt stemming from two incidents.
Richard Briffault, a professor at Columbia Law School in New York, said that as president, Trump cannot forgive fines imposed in civil cases unrelated to official government business. And since the trial has already taken place, he will have a hard time arguing that the lawsuit is an undue burden on his time.
A series of luxury golf resorts owned or managed by Trump generated hundreds of millions of dollars for him in 2024, and could raise even more once he returns to the Oval Office.
President Trump’s financial disclosures show nearly $267 million in “golf-related” income, plus $161 million in combined “golf and hotel” income from Doral Golf Club in Miami. It has been reported.
During his first term, Trump frequently promoted golf courses and used his presidential power to line his pockets, as he routinely played there with a large, taxpayer-funded entourage in tow. This led to criticism that it was being used. President Trump pushed for the G7 summit to be held at the Doral grounds in 2019, arguing that it would violate the Constitution’s annual salary clause, which prohibits presidents from accepting gifts or payments from foreign governments. After receiving criticism, the plan was withdrawn.
These golf courses could also attract foreign officials and special interests, who have spent millions on Trump’s properties to gain access and curry favor.
Since the beginning of President Trump’s first term, the cost of attending his private Mar-a-Lago resort in Palm Beach, Florida, has soared to $1 million, and wealthy people have paid $1 million to attend during Trump’s frequent visits. It has become possible to combine the business of politics and government with pleasure. club.
Trump has earned $111 million from Mar-a-Lago over the past two years, but has paid more than $800 a night to the employees assigned to protect him when he travels to Mar-a-Lago. The US Secret Service has been accused of charging “exorbitant” room rates. to other Trump family properties.
Who President Trump met with and what he discussed during his stay at Mar-a-Lago is largely hidden from public view. A 2020 federal appeals court ruling said the Secret Service does not have an electronic system to screen or monitor visitors to the presidential mansion.
President Trump launched his social media platform, Truth Social, in early 2022 after being banned from major sites such as Facebook and Twitter in the wake of the Jan. 6 attack on the U.S. Capitol.
Trump has since returned to both, but Trump frequently uses Truth Social for more personal comments, leaving traffic to X and other platforms for more formal statements and pronouncements. The company doesn’t disclose user numbers, so it’s difficult to know how wide Trump’s reach is.
But what is clear is that Mr. Trump is the man behind the Trump Media & Technology Group, which began trading on the Nasdaq stock market in March. The president-elect owns a majority stake in the company, and immediately after winning the general election, Trump significantly increased his net worth and announced that he had “no intention of selling” the company’s stock, which was valued at about $3.5 billion at the time. said.
President Trump has promised to make America the “crypto capital of the planet” when he returns to the White House, and that promise is likely to pay off for him personally.
In the midst of his 2024 campaign, Trump has launched a new business trading cryptocurrencies and has been promoting it on the same social media accounts he used during his campaign. His two eldest sons, Donald Jr. and Eric, have also posted about a new platform called World Liberty Financial, as has his daughter-in-law, Lara Trump, who is married to Eric and also serves as his co-chair. Republican National Committee.
The value of this new money-making venture could explode if President Trump pushes through legislative and regulatory changes that crypto advocates have long sought.
Trump said during his first term that he was “not a fan” of cryptocurrencies, but in May his campaign announced that it would begin accepting donations in cryptocurrencies, leading to BitTrust in Nashville. Attending the Coin Conference, the US will be the “Earth’s Crypto Asset” and will create a “strategic reserve” for Bitcoin using currency currently held by governments.
Several of Trump’s Cabinet nominees have made significant investments in cryptocurrencies, including Commerce Secretary nominee Howard Lutnick and Trump’s nominee for Securities and Exchange Commission, Paul Atkins.
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