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Trump family earned $2 bln in one month of his presidency

The New York Times noted that the primary inflows stemmed from foreign investments in cryptocurrency ventures, real estate, and exclusive club initiatives

NEW YORK, May 14. /TASS/. The business empire of US President Donald Trump’s family generated at least $2 bln in income in just one month of his presidential term, according to The New York Times, which cited financial records and insider sources.

The newspaper noted that the primary inflows stemmed from foreign investments in cryptocurrency ventures, real estate, and exclusive club initiatives. The launch of the TRUMP cryptocurrency, managed by Donald Trump Jr., generated at least $174 mln. In addition, the United Arab Emirates invested $2 bln in the crypto project World Liberty Financial, which is led by Eric Trump and Donald Trump Jr.

According to The New York Times, substantial revenues have also come from real estate transactions. Qatar is reportedly helping finance the $5.5 bln Trump resort complex, while a Saudi state-linked company has invested $1 bln in the Trump International Hotel and Tower in Dubai. At the same time, Serbia has signed an agreement with Jared Kushner, Trump’s son-in-law, to develop a hotel on the site of the former Yugoslav Ministry of Defense building, a project estimated at $1 bln.

As the newspaper reported, the White House denies any conflict of interest, claiming that the business is entirely managed by the president’s sons. The publication highlighted that the current volume of revenue flowing into the business structures of a sitting US president’s family is unprecedented in modern American history.

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