A Democracy Drive Thread
The president’s sons and son-in-law turning the family name and his power into resorts, crypto ventures, billions in Gulf money, and Pentagon contracts for companies they’re invested in.
With the president’s businesses placed in a trust run by Donald Trump Jr. and Eric Trump, the family pursued its own moneymaking ventures on the strength of his name and office — foreign real-estate deals, crypto companies, and, increasingly, defense contracts for firms the sons hold stakes in, plus billions raised abroad by son-in-law Jared Kushner. This thread tracks the family’s enrichment in chronological order, with sources, and the conflicts of interest lawmakers and ethics experts raised.
May 5, 2025
A New York Times investigation detailed a rush by Eric Trump and Donald Trump Jr. to cash in across Europe, the Middle East and the U.S. — a Dubai hotel, a second Jeddah tower, a Qatar golf-and-villa complex, two U.S. crypto ventures and a new private club in Washington — deals worth billions that, per Trump’s own disclosure, also benefit the president. The White House said there was no conflict because his sons run the businesses.
May 21, 2025
Eric Trump broke ground on a $1.5 billion Trump Organization golf-and-residential resort in Vietnam just as Hanoi raced to avoid a threatened 46% U.S. tariff. Vietnam expedited the project’s approvals; the tariff was subsequently reduced.
September 1, 2025
On the ground
The family-co-founded crypto venture’s token began trading on Sept. 1, 2025. The family holds 22.5 billion WLFI tokens, plus a stake in the parent company and a large share of token-sale revenue. Sen. Elizabeth Warren called it “corruption, plain and simple.” The token fell sharply after launch.
September 3, 2025
The family’s crypto push made the sons central players: World Liberty Financial and its USD1 stablecoin, the $TRUMP memecoin, the Trump Mobile venture, and American Bitcoin — the mining firm co-founded by Eric Trump and backed by Donald Trump Jr. — which listed on the Nasdaq at a roughly $5 billion valuation. (See The Crypto Cash-In for the full account.)
September 26, 2025
On the ground
Kai Trump, who has millions of social-media followers, posted a series of photos and videos taken at the White House to promote sweatshirts sold on her website in late September 2025. On Sept. 26 she left the White House with her grandfather and flew with him on Air Force One to the Ryder Cup at Bethpage Black.
October 13, 2025
In his own words
On Oct. 13, 2025, Prabowo asked, “Can I meet Eric?” Trump answered: “I’ll have Eric call. Should I do that? He’s such a good boy. I’ll have Eric call.” Prabowo added, “Eric or Don Jr.” Both sons run the Trump Organization as executive vice presidents; the company says the president has no role in day-to-day decisions. It was unclear whether a business deal was discussed.
“I’ll have Eric call. Should I do that? He’s such a good boy. I’ll have Eric call.”
October 23, 2025
Unusual Machines — a drone-parts maker where Donald Trump Jr. sits on the advisory board and holds a multimillion-dollar stake — won a U.S. Army contract as the administration poured $1.4 billion into domestic drone production. The stock had risen more than 900% in 2025 and jumped again on the news; the company said Trump Jr. played no role in securing the deal.
October 24, 2025
On the ground
Its shares nearly tripled after it announced his role in late 2024. The company said he has never contacted the administration on its behalf.
October 29, 2025
On the ground
Reuters found the Trump Organization’s first-half income rose to $864 million from $51 million a year earlier, driven by crypto, dwarfing the $33 million from golf clubs and resorts. Eric Trump and Donald Trump Jr. pitched World Liberty tokens on a global roadshow, and foreign crypto entrepreneurs told Reuters they sought the brothers out because of their proximity to the president. Of the 50 largest World Liberty wallets, 36, holding $804 million, were likely tied to overseas buyers. An Abu Dhabi state firm used the family’s USD1 stablecoin for a $2 billion stake in Binance.
March 19, 2026
Jared Kushner’s firm Affinity Partners had grown to about $6.16 billion under management — roughly 99% from foreign governments, including Saudi Arabia’s sovereign fund ($2 billion), the UAE and Qatar — with about $1.2 billion raised in 2025 alone, even as Kushner served as a Middle East envoy for the administration. Congressional Democrats opened investigations.
April 23, 2026
Eric Trump — an investor and chief strategy adviser at the robotics company Foundation — publicly touted a $24 million Pentagon contract to test its “Phantom” humanoid combat robots. The sons had been investing in defense firms (including a drone maker, Powerus) positioned for Pentagon work; House Oversight Democrats referred the family’s contracts to the Defense Department inspector general.
“Is the Pentagon just a cash machine for Trump’s kids now? This looks like corruption in plain sight.”
May 28, 2026
ProPublica and NPR reported that the White House intervened to secure a $620 million Pentagon loan for Vulcan Elements, a company tied to Donald Trump Jr. It was the latest in a string of defense deals flowing to firms the sons had invested in, deepening the conflict-of-interest concerns lawmakers had already referred for investigation.