The Trump Family and 'Honest Graft' - WSJ Editorial
(Yes, this is the WSJ so they have to mention Hunter Biden. Still..)
Americans tell pollsters they don’t think they are getting ahead financially. But President Trump and his family are having no trouble, judging from his 2025 financial disclosure report released Tuesday. The Trump clan is cashing in on the Presidency in big and sketchy ways.
The 927-page report shows Mr. Trump made some $1.4 billion last year from crypto alone. Yowzers. This includes $635 million in royalties from the memecoin that Mr. Trump launched days before his inauguration. Trump Organization business affiliates make money from what are akin to transaction fees when the memecoin is traded.
Another $593 million came from token and equity sales by World Liberty Financial, whose co-founders include the President, his sons and special envoy Steve Witkoff. Mr. Witkoff’s son, Zach, is its CEO. A business entity affiliated with Mr. Trump and his family members owns a major chunk of World Liberty.
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Then there’s the Trump family’s financial alchemy involving government support for critical minerals. The Administration has provided billions of dollars in financing to an array of critical mineral developers to shore up U.S. supply chains so China can’t weaponize its dominance. The government investment has caused an industry gold rush.
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Donald Trump Jr.’s venture capital firm, 1789 Capital, invested in Vulcan Elements three months before the company received a $620 million government loan. Investment bank Cantor Fitzgerald, which is headed by Commerce Secretary Howard Lutnick’s sons, has been a financial adviser or underwriter for many startups that have received government support.
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Foreigners may come to think they can buy American goodwill or favors if they cut the Trumps in on the action. Americans, and especially his supporters, deserve better from this or any President.
https://www.wsj.com/opinion/trump-family-finance-world-liberty-financial-steve-witkoff-binance-9187ba1c?st=4whBHG&reflink=desktopwebshare_permalink
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