Our new book is The Comeback: The 2024 Elections and American Politics. The first year of the second Trump administration has been full of ominous developments. Scandals persist. Trump is abusing his power to increase his wealth.
A review by the editorial board relying on analyses from news organizations shows that Mr. Trump has used the office of the presidency to make at least $1.4 billion. We know this number to be an underestimate because some of his profits remain hidden from public view. And they continue to grow.
A hotel in Oman. An office tower in western India. A golf course on the outskirts of Riyadh, Saudi Arabia. These are a few of the more than 20 overseas projects the Trump Organization is pursuing, often requiring cooperation with foreign governments. These deals have made millions for the Trumps, according to Reuters. And the administration has sometimes treated those same governments favorably. One example: The administration agreed to lower its threatened tariffs on Vietnam about a month after a Trump Organization project broke ground on a $1.5 billion golf complex outside of Hanoi. Vietnamese officials ignored their own laws to fast-track the project.Amazon paid far more for the rights to “Melania” than the next highest bidder — and far more than the company has previously paid for similar projects, according to The Wall Street Journal. Jeff Bezos, Amazon’s chairman and one of the world’s richest people, has many reasons to curry favor with the administration, including antitrust regulation, Amazon’s defense contracts and his space company’s federal contracts.
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Mr. Trump’s sale of crypto has been by far his biggest moneymaker, according to Reuters. People who hope to influence federal policy, including foreigners, can buy his family’s coins, effectively transferring money to the Trumps, and the deals are often secret. One that has become public: A United Arab Emirates-backed investment firm announced plans last year to deposit $2 billion into a Trump firm — two weeks before the president gave the country access to advanced chips.
