"It seems like there is a fresh deal, or revelation, every week. Since many of the Trump or Trump-affiliated ventures are privately owned, we don't have a complete account of their finances. But in tracking company announcements, official filings, and the assiduous reporting of a number of media outlets, a clear picture emerges: enrichment of the First Family on a scale that is unprecedented in American history."
"The time line begins in September, 2024, a couple of months before the Presidential election. It was then that Trump announced that his family was partnering with the family of a longtime friend of his, the real-estate developer Steve Witkoff, and two little-known online entrepreneurs, Zachary Folkman and Chase Herro, to create a new crypto company, World Liberty Financial, which his three sons, Eric, Donald, Jr., and Barron, would all be involved with."
The President's family has generated substantial income through numerous ventures, many tied to cryptocurrencies and foreign money. Family members and affiliated partners launched World Liberty Financial in late 2024, involving Trump's sons and associates. Many Trump-linked businesses are privately held, obscuring a full accounting of finances. Public filings, company announcements, and media reporting reveal widespread enrichment of the First Family tied to presidential policies and actions, including efforts to promote U.S. crypto leadership. The scale, geographic reach, and explicit connections to administration initiatives distinguish these financial activities from past presidential relatives' dealings.
Read at The New Yorker
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