Recent lawsuits have once again brought scrutiny to U.S. President Donald Trump for allegedly profiting from his position in the White House. Concerns have arisen over potential conflicts of interest related to ventures involving cryptocurrency, social media, and other avenues through which individuals could funnel money to the president. Trump has delegated management of these assets to his children and will not be involved in day-to-day decision-making, with oversight by an external ethics lawyer and management of investments by an outside firm. The Trump Organization has pledged not to engage in significant transactions with foreign governments and to donate profits from foreign government dealings to the U.S. Treasury.
This arrangement mirrors the one in place during Trump’s first term, which was criticized by ethics experts for not adequately preventing conflicts between his official duties and his business interests. During his initial presidency, the Trump International Hotel, located near the White House, was frequented by foreign dignitaries, business leaders, and Republican supporters, generating substantial revenue.
In his second term, Trump’s potential avenues for profit include the cryptocurrency market, where he has launched tokens such as $TRUMP and $MELANIA. These tokens, owned predominantly by Trump-affiliated entities, have raised concerns about potential influence-buying by foreign investors. Trump also has a significant stake in World Liberty Financial, a crypto platform he launched last year, and has expressed intentions to regulate the industry and establish a government-backed reserve of cryptocurrencies.
On the real estate front, Trump has divested ownership of the Trump International Hotel in Washington but may seek to reacquire the lease. His Mar-a-Lago estate in Florida has become a profitable venue for Republican fundraisers, while his golf courses have benefited from support by political allies. Additionally, Trump’s real estate company has announced plans for Trump-branded projects in Dubai, Saudi Arabia, and Oman, as well as a proposal to develop the Gaza Strip into an international resort.
Meanwhile, Trump’s son-in-law Jared Kushner, a former White House adviser, now leads a private-equity firm supported by undisclosed sources.
Investments from Qatar, Saudi Arabia, and the United Arab Emirates.
Social Media
Trump’s Truth Social platform is a Nasdaq-listed company widely held by retail investors, some of whom purchased it as a show of support. The stock price has fluctuated significantly in tandem with his political fortunes, dropping by 30% during his initial month in office. Trump himself owns more than half of all shares.
In a high-profile move, Trump appointed tech billionaire Elon Musk to an administration role, overseeing an initiative to drastically reduce and reshape the federal workforce, including agencies regulating Musk’s companies Tesla, SpaceX, and Neuralink.
Musk frequently praises Trump on X, the social media platform he acquired in 2022. Reports from The Wall Street Journal revealed that X paid Trump $10 million to settle a lawsuit following his suspension from the service in 2021. Meta also settled a lawsuit with Trump, paying $25 million shortly after his inauguration, prompted by the suspension of his Facebook and Instagram accounts after the January 6, 2021, Capitol attack. Meta has discontinued fact-checking measures criticized as biased by conservatives.
Traditional Media
During his presidential campaign, Trump filed a $20 billion lawsuit against CBS News, alleging favorable treatment towards his Democratic opponent, Kamala Harris. The Federal Communications Commission, led by a Trump appointee, is investigating the matter. Paramount, CBS’s parent company, may face pressure to settle the lawsuit as it seeks FCC approval for an $8.4 billion merger with Skydance Media.
The FCC is also looking into ABC News for its handling of a debate between Harris and Trump, and NBC News for featuring Harris on a “Saturday Night Live” program just before the November 2024 election.
Amazon.com is reportedly paying $40 million for a documentary on First Lady Melania Trump, as per Puck News, although the amount she receives remains unclear. Amazon also provides cloud computing and other services to the government, leading to accusations of favoritism when Trump’s administration awarded a lucrative contract to Microsoft, an Amazon competitor, during his first term.
Consumer Products
During his previous presidential campaign, Trump endorsed various consumer products, including sneakers and a digital token. Disclosure filings indicate he earned a $300,000 fee for endorsing a Bible published by a country singer.
Oklahoma’s top education official sought to purchase 55,000 Bibles for public schools, specifying that they meet criteria only met by Trump’s version, according to a local watchdog. The official later relaxed these criteria amid widespread criticism.
