With Donald Trump’s anticipated return to the White House, fresh ethical concerns are resurfacing as his expanding business ventures, including new cryptocurrency interests and strategic overseas partnerships, heighten potential conflicts of interest. Trump, who no longer holds an executive title at the Trump Organization, retains a substantial financial stake in the family empire through a trust. Recent deals, including ventures linked to Saudi Arabia and other global entities, underscore the complex relationship between Trump’s personal wealth and political power.
Marketing expert Mark Hass from Arizona State University describes Trump’s renewed political success as “rocket fuel for the Trump Empire,” pointing to the intensified value of Trump’s brand and image globally. Northwestern University’s Tim Calkins noted that Trump’s win has significantly bolstered the family brand, associating it with resilience and comeback, and increasing its value in international real estate and luxury developments. Saudi partnerships, including a high-profile luxury project in Jeddah and agreements with LIV Golf, bolster these concerns. Experts suggest that such partnerships could provide “influence” over Trump’s interests, potentially compromising his decision-making as president.
Additionally, Trump’s media enterprise, the Trump Media Technology Group (TMTG)—valued at $3.8 billion—has drawn scrutiny from ethics watchdogs, who fear the potential manipulation of the public stock price by foreign investors. The group’s ownership of Truth Social, his social media platform, opens the door for market fluctuations influenced by overseas financial interests, including the rumored interest of Elon Musk to acquire the platform through X, formerly Twitter.
CREW, the government ethics watchdog, has announced that it is considering a legal suit against Trump, as it did during his previous term, citing potential violations of the U.S. Constitution’s emoluments clause. CREW’s Vice President of Communications, Jordan Libowitz, pointed to the heightened risk posed by Trump’s involvement in a new cryptocurrency exchange, World Liberty Financial, a platform with potential for anonymous overseas transactions.
Ethics experts argue that Trump’s second term could be marked by a more transactional approach, with Hass stating, “Trump, if nothing else, understands how to monetize his name and fame,” predicting a presidency that balances power with financial gain in unprecedented ways.
