Trump’s $2bn bonanza heralds the rise of political grifters across the west
Summary
President Donald Trump’s latest financial report shows he earned more than $2 billion in the first year of his second term. His income comes from various businesses using his name, like hotels, golf courses, cryptocurrency, watches, cologne, and Bibles. This level of profit from the presidency is unusual and raises concerns about mixing public office with personal wealth.Key Facts
- President Trump made over $2 billion in one year from businesses linked to his name.
- These businesses include hotels, golf courses, cryptocurrency, watches, cologne, and Bibles.
- His sons, Donald Jr. and Eric Trump, officially run the family businesses while he is president.
- Trump’s cryptocurrency venture alone earned him $635 million, despite many buyers losing money.
- Critics say using public office to gain so much money may be breaking down ethical rules.
- Similar cases of politicians gaining wealth while in office are appearing in other Western countries.
- Some supporters continue to back these politicians even as concerns about corruption grow.
- Past limits on mixing political power and personal profit seem to be weakening.
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