Latest news with #MichaelCohen
The Independent
3 days ago
- Business
- The Independent
Michael Cohen believes Trump will go after Musk's money
Michael Cohen, a former adviser to President Donald Trump, believes the president will turn on his friend Elon Musk due to jealousy over his wealth. Cohen made the remarks to MSNBC, adding he's long suspected the pair's 'bromance was going to come to an end.' Speaking to a network panel on Sunday, Cohen said: 'Trump will ultimately go after Elon's money next, because it bothers him that he is the richest man in the world.' Trump's net worth is currently at $5.1bn, while Musk is worth $417bn, according to Forbes. 'Yes, he used him for his money. Now he's going to go and he's going to figure out how Elon, with his companies, took advantage of the United States of America,' Cohen said. Cohen told panelists Trump could attempt to use the Department of Government Efficiency (DOGE), which was spearheaded by Musk, against the Tesla CEO. 'They're going to turn around, use DOGE to go, 'right, government efficiency, fraud, waste and abuse. How is it that he got $7,000 as a credit for every Tesla vehicle that was sold? That's where his billions were made. Why should the United States pay for electric vehicles? Pay your own car if that's what you want.' So they're going to claw it back,' Cohen continued. Tesla and SpaceX, another company founded by Musk, have long benefited from government contracts. In February, Musk tweeted he loves Trump 'as much as a straight man can love another man.' Earlier this year, The Washington Post reported Musk's companies have received over $38bn in contracts, loans, subsidies and other forms of government aid. Additionally, a government electric vehicle tax credit has helped Musk make a fortune, Cohen said. 'He's going to do to Elon Musk, my prediction, what Mohammed bin Salman did to the other members of the royal family,' added Cohen, referencing how the Saudi crown prince was accused of going after the wealth of his relatives. Musk donated $288m to help elect Trump in 2024 and was seen a handful of times on the campaign trail. His association with the administration has led to some consumers boycotting Tesla, causing the company to lose more than half its value since December 17. Tesla quickly recovered after Musk announced he'd be taking a step back from his role as a special government employee. Last week, Musk said he was 'disappointed' by the president's tax and spending bill. In 2018, Cohen pleaded guilty to multiple federal crimes and later spent three years in prison. He was convicted of campaign finance violations, tax evasion and lying to Congress, stemming from hush money payments made to silence Stormy Daniels, a woman who claimed she had an affair with the president. Cohen was released after about a year and completed his sentence in home confinement during the Covid-19 pandemic.
Yahoo
3 days ago
- Business
- Yahoo
Michael Cohen Makes Bold Prediction About Fate of Trump-Musk ‘Bromance'
Donald Trump's former 'fixer' predicts the president will turn on his richest ally—and he'll come for Elon Musk's billions. Michael Cohen, who spent years as Trump's personal attorney and confidant, told an MSNBC panel Sunday he had long anticipated that the Trump-Musk 'bromance was going to come to an end.' 'I'm going to say Trump will ultimately go after Elon's money next, because it bothers him that he is the richest man in the world,' Cohen said on The Weekend: Primetime. 'Yes, he used him for his money. Now he's going to go and he's going to figure out how Elon, with his companies, took advantage of the United States of America.' Cohen suggested Trump could use the Department of Government Efficiency (DOGE)—which Musk spearheaded until last week—to target the government subsidies that helped build the Tesla founder's fortune, specifically the electric vehicle tax credit. 'They're going to turn around, use DOGE to go, 'right, government efficiency, fraud, waste and abuse. How is it that he got $7,000 as a credit for every Tesla vehicle that was sold? That's where his billions were made. Why should the United States pay for electric vehicles? Pay your own car if that's what you want.' So they're going to claw it back,' Cohen said. 'He's going to do to Elon Musk, my prediction, what Mohammed bin Salman did to the other members of the royal family,' he added, referring to the Saudi Arabian ruler's 2017 crackdown on wealthy relatives. The White House did not immediately return the Daily Beast's request for comment. Cohen's prediction comes amid growing signs of fracture between Trump and Musk, who last week formally ended his time working with the administration at the helm of DOGE. The break followed a stretch in which Musk–a top donor who was allegedly taking drugs on the campaign trail–reportedly clashed with Trump aides and was viewed increasingly as a loose cannon within Trumpworld. Cohen was sentenced to three years in prison after pleading guilty in 2018 to multiple federal crimes, including campaign finance violations, tax evasion and lying to Congress. His conviction stemmed in part from orchestrating hush money payments during the 2016 election to silence women who alleged affairs with Trump. He served just over a year behind bars before being released to home confinement in 2020 due to COVID-19 concerns.
Yahoo
4 days ago
- General
- Yahoo
Michael Cohen Admits He'd ‘Selfishly' Accept Trump Pardon: ‘It Would Make My Life a Little Easier'
Michael Cohen would 'selfishly' accept a pardon from the president if he were to issue one, Donald Trump's former attorney told MSNBC's Ayman Mohyeldin, Catherine Rampell, and Antonia Hylton on Sunday. Doing so 'would make my life a little easier, going back into real estate, dealing with banks and so on,' he noted before adding, 'But it's not going to change my life.' Cohen also said he had hoped to be pardoned by former President Biden. 'I also am concerned about the 70 million Americans, 70 million that are basically scarlet lettered for the rest of their life as a felon,' he explained. 'I did my did my time. I paid all the restitution … I owe no money. Why should I be a felon for life? That's not the way the system should work.' In that vein, Cohen also noted those approximately 70 million Americans 'are all afflicted by the fact that they have felony convictions.' He added, 'They can't get housing. They can't get bank accounts. You can't get credit cards and so on.' Former Congressman Jesse Jackson, Jr., is also hoping to receive a pardon from Trump. He and Cohen are 'working on a policy that we believe would be like from the hand of God, which is what the president's power that's granted him in the Constitution,' Cohen explained. 'So you look at the list of people, though, who have received pardons and commutations in recent days and weeks. What do you make of the pattern that's emerging here, though? Some of them are really bad individuals,' he continued. 'Others are also caught up in white collar tax issues. And I agree with the tax issues, the nonviolent. But there are several who, let's just say, stole over a billion dollars, paid back 100 million dollars and now receive the pardon.' Cohen also cited Trump's 'first term to the goal of using pardons in large part for a form of criminal justice reform' when the president 'was meeting with Van Jones and others and, you know, it was in part a way for him to actually reach out to black and Latino voters.' 'That does not seem to be his focus this time around,' he concluded. Watch the interview with Michael Cohen in the video above. The post Michael Cohen Admits He'd 'Selfishly' Accept Trump Pardon: 'It Would Make My Life a Little Easier' | Video appeared first on TheWrap.
Yahoo
5 days ago
- Business
- Yahoo
Michael Cohen: I would "selfishly" accept a pardon from President Trump
It's been one year since Donald Trump became the first former president to be convicted of a felony. Now that he's back in power, Trump has been pardoning allies convicting of white-collar crimes. Former Trump attorney Michael Cohen reacts to Trump's pardons with MSNBC's Ayman Mohyeldin, Catherine Rampell, and Antonia Hylton including saying he would accept one if offered.
Bloomberg
17-04-2025
- Business
- Bloomberg
Trump's Harsh Tariff Sparks Fear of Liquidity Crisis in Lesotho
By and Michael Cohen Save Lesotho is at risk of a liquidity crisis if US President Donald Trump follows through on plans to impose a 50% levy on imports from the tiny southern African mountain kingdom, its trade minister warned. Trump announced this month he'll apply tariffs of at least 10% on most goods coming into America, with even higher duties on some 60 nations, to counter trade imbalances. Lesotho was hit with the highest levies on the continent before Trump paused the additional duties for 90 days.
