From crypto to golf resorts: How Trump’s business empire has thrived in office

Donald Trump attempted to establish a nearly $1.8 billion fund, potentially funneling taxpayer money to his supporters, including those imprisoned for their involvement in the 2021 US Capitol attack. The fund was proposed as a settlement for a lawsuit he filed against his own government, with Mr Trump reportedly arguing he "gave up a lot of money in allowing" it.

The controversial proposal, which drew significant outcry from Congress and the courts, is now reportedly being reconsidered by the White House. This development could reopen the original lawsuit and the possibility of Mr Trump personally benefiting. The move is the latest in a series of instances where Mr Trump has been accused of leveraging his presidency for personal financial gain, encompassing everything from merchandising deals and crypto ventures to high-dollar political events at his properties.

When questioned about potential self-dealing, the White House dismissed such suggestions as "the same, tired narrative that Democrats have pushed against President Trump, his family, and his administration for a decade."

Spokesperson Anna Kelly stated: "President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media. There are no conflicts of interest."

President Donald Trump pumps his fist as he arrives at the White House AP Photo/Alex Brandon

Last year, the president submitted a claim seeking $230 million in compensation from the Justice Department for a FBI search of his Mar-a-Lago estate in Florida as part of an investigation into whether he took classified records from the White House.

In January this year, Trump, his two eldest sons and the family's business, the Trump Organization, filed a $10 billion lawsuit against the IRS and Treasury Department after a former IRS contractor illegally leaked Trump's tax returns.

In an attempt to resolve those cases, Trump's government agreed that $1.776 billion in taxpayer funds be distributed to people who believe they were targeted by past administrations for prosecution for political purposes — including the Trump supporters imprisoned for attacking police while overrunning the U.S. Capitol in 2021.

After blowback from even some congressional Republicans, the Justice Department now says it will comply with a ruling temporarily blocking the fund.

But there was less clamor about another part of the deal allowing the government to drop pending IRS audits into Trump and his relatives.

Separately, the Air Force has agreed to purchase interceptor drones from Powerus, a Florida-based company linked to Trump’s family. And ProPublica reported that direct intervention from the White House preceded the Pentagon agreeing to loan $620 million to Vulcan Elements, a North Carolina startup linked to Donald Trump Jr.

Kimberly Benza, a spokesperson for the Trump Organisation, denied any ethical conflicts between the White House and the family business. She stated: "The Trump Organisation operates completely separate from the presidency and is in full compliance with all ethics and conflict-of-interest laws." Regarding Powerus, Ms Benza clarified that Eric Trump was "a passive investor in a vehicle that, among many others, holds an interest" in the company, but was not involved in its decision-making or management.

Trump has traded stocks and bonds in unprecedented ways for a sitting U.S. president.

Office of Government Ethics filings show Trump made more than 3,600 stock trades in the first quarter of 2026 alone — transactions far exceeding $100 million in value.

Many of those trades involved sizable purchases of shares of technology and artificial intelligence giants like Nvidia, Dell, Oracle and Palantir before Trump's administration took policy actions favoring those firms.

Similar disclosures last year show that Trump bought up more than $300 million in bonds issued by companies, states and municipalities even as he repeatedly pressed the Federal Reserve to lower interest rates — a move that could help drive up the value of his holdings.

AP Photo/Jose Luis Magana

Trump's family has raked in big profits in the crypto sector since he was reelected. A key driver has been the $TRUMP meme coin, announced the day before Trump took office. Some 220 of the top investors were invited to a subsequent, private reception with the president.

Trump's family also has a controlling stake in World Liberty Financial, a crypto firm co-founded with the president's special envoy Steve Witkoff and run by his son Zach. It has its own stablecoin, USD1, and got a major boost when, just before Trump took office, an investment fund linked to the United Arab Emirates bought a large stake in it.

An Abu Dhabi state-backed investment firm, MGX, subsequently pledged to use $2 billion worth of USD1 to purchase a stake in Binance, the world’s largest cryptocurrency exchange — a move that further bolstered World Liberty Financial.Beyond the digital realm, numerous companies pay to license Mr Trump’s name for physical products, ranging from Bibles, guitars, and sneakers to watches, fragrances, and a gold-hued mobile phone.

Mr Trump has promoted many of these goods on social media, particularly during his 2024 campaign, and they have also made conspicuous appearances at the White House. Last summer, he reportedly showed French President Emmanuel Macron and Ukrainian President Volodymyr Zelenskyy a merchandise room off the Oval Office stocked with items for sale on his website. Months later, video emerged of Mr Trump at the White House spraying Syrian President Ahmad al-Sharaa with bottles of his "Victory 47" cologne and perfume, which he presented as a gift.

Mr Trump displayed hats emblazoned with "Trump 2028" on the Resolute Desk during a meeting with congressional Democrats last year. Furthermore, during a televised Cabinet meeting in May, every seat featured a red hat commemorating America's 250th anniversary, each selling for $55 on Mr Trump's website.

Mr Trump’s properties have also generated substantial income. The Republican National Committee and various political groups associated with Mr Trump and the GOP have hosted fundraisers and political events at Mar-a-Lago, his Bedminster estate in New Jersey, and his golf clubs in Doral, Florida, and Sterling, Virginia. The LIV Golf league, controlled by the Saudi Public Investment Fund, has held events at Doral, where Mr Trump is also set to host the G20 summit in November.

This means world leaders, support staff, business executives, journalists, and other attendees will be paying the Trump Organisation, which acquired Doral in 2012. Mr Trump has attempted to pre-empt criticism of self-dealing regarding the summit, stating that government attendees will be billed "at-cost" and "We will not make any money on it." Conservative groups and Republican committees have collectively spent at least $26 million at Mr Trump’s properties since 2015, with the actual figure likely higher due to incomplete disclosure requirements for some groups.

AP Photo/Richard Drew

Finally, several renovation and construction projects have raised questions. Qatar gave Trump a $400 million jet that he intends to employ as Air Force One, then store at his presidential library after he leaves office. The gift has undergone extensive taxpayer-funded rebuilding and security upgrades that lawmakers estimate may exceed $1 billion.

Trump has also ordered up scores of renovation projects meant to leave his mark on Washington while passing on the costs to taxpayers.

He long insisted that wealthy donors would pay for the $400 million ballroom he demolished the White House's East Wing to build, only to seek $1 billion in federal funding for security upgrades he says the military and Secret Service have sought as part of the project.

At least $15 million in public funds is going for the ceremonial arch Trump wants built at an entrance to the nation’s capital. The National Park Service is also paying a contractor $13.1 million to carry out the Trump-directed renovation of the Lincoln Memorial Reflecting Pool.