استمتع بـUnlimited مع Magzter GOLD
احصل على وصول غير محدود إلى أكثر من 9000 مجلة وصحيفة وقصة مميزة مقابل
يحاول ذهب - حر
Trump Family Inc: how the US president and his clan ushered in a new golden age of corruption
May 11, 2025
|The Observer
The presidency and personal gain now go hand in hand - and no one has been able to do anything about it, reports Patricia Clarke
Over the course of the last eight months, Justin Sun, a Chinese-born billionaire best known for paying $6.2m for a banana at an art auction, made another series of unusual investments. He spent $75m buying crypto tokens from World Liberty Financial (WLF), a firm backed by the Trump family.
Five weeks after Donald Trump became president, the US securities regulator shelved a civil fraud case against Sun that could have cost him millions in fines and repayments.
When it was founded last year, WLF promised to liberate Americans from "the big banks and financial elites". The firm listed President Trump as "chief crypto advocate"; his sons as "visionaries and ambas-sadors"; and the two sons of his Middle East envoy, Steve Witkoff, as cofounders. Witkoff Sr was listed as "cofounder emeritus".
Now the Trumps, the Witkoffs and Sun - the banana-buyer - are in business together. Sitting beside Sun and Eric Trump at a crypto con-ference in Dubai this month, Zach Witkoff, Steve's son, announced a new deal. It involved a crypto token called Tron, whose price Sun had been accused of manipulating in the shelved fraud case.
"Tron is just an incredible tech-nology," Witkoff Jr said, "and we're lucky to be partners with you." There is every chance that a WLF-Tron partnership will enrich Sun, President Trump, his family and the family of his advisers.
Every president since Lyndon Johnson has chosen to sell his investments before taking office or seal them in a blind trust - except Trump. Forbes estimates that his personal wealth has more than doubled to $5.1bn in the past year. Trump profited from his businesses during his first term too, but sources say the majority of his net worth is in new schemes launched in the past year - deals, often facilitated by his sons, in crypto, real estate, media and the use of Trump's exist-ing assets including hotels and his Mar-a-Lago mansion.
هذه القصة من طبعة May 11, 2025 من The Observer.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من The Observer
The Observer
Can a biopic of the Boss be anything other than blinded by his light?
Heavens above, not another biopic. I'm still in recovery from A Complete Unknown, James Mangold’s attempted unveiling of The Mysterious Soul of Bob Dylan starring Timothy Someone-or-other.
2 mins
October 26, 2025
The Observer
Reeves is still only getting part of the Brexit message
The financial markets, and much of the media, seem obsessed by the level of public sector debt and borrowing.
3 mins
October 26, 2025
The Observer
The anonymous Twitter troll account set up to discredit Virginia Giuffre
The online attacks came thick and fast, all 479 of them designed to discredit the accuser of Epstein, Maxwell and Prince Andrew.
5 mins
October 26, 2025
The Observer
Badenoch and Farage should stop playground politics of making rules they can't keep
Do unto others as you would have them do unto you. That's the golden rule I remember being taught as a child in primary school. Not a bad guiding principle.
3 mins
October 26, 2025
The Observer
Museums are in the pink while corporate sponsors remain shy
By embracing private philanthropy, the sector has received record sums, however businesses are feeling burnt by protests, write Nicole Fan and Stephen Armstrong
3 mins
October 26, 2025
The Observer
'Democrat saviour' or 'commie bastard': Mamdani, would-be king of New York
The 34-year-old socialist set to become the Big Apple's first Muslim mayor may be the left's greatest hope - and biggest threat. Hugh Tomlinson joins the new star of US politics on the campaign trail
8 mins
October 26, 2025
The Observer
Use Russia's money
Europe has missed its chance to hit Putin's finances
2 mins
October 26, 2025
The Observer
Struggling 'clean food' brands dig in for long haul
Autumn, season of mists and mellow fruitfulness, wrote Keats. Not if you're in the plant-based food industry. Sales at major brands, including Oatly and Beyond Meat, are stalling.
2 mins
October 26, 2025
The Observer
Reeves mission: to build a European Silicon Valley centred on 'golden triangle'
Brexit is costing the UK 80bn a year in lost taxes, hitting output by up to 8% and investment by more than twice as much. The chancellor has her work cut out
5 mins
October 26, 2025
The Observer
Academics sign letter of support after ‘vile’ abuse of Israeli professor
Tom Watson, Margaret Hodge, Michael Grade, Prof Andrew Roberts and hundreds of academics are among more than 1,600 signatories of an open letter condemning a “targeted harassment campaign” against an Israeli professor at a London university.
1 mins
October 26, 2025
Listen
Translate
Change font size