Latest news with #Trump-linked
Time of India
a day ago
- Entertainment
- Time of India
Musk's Downfall Blamed on Drugs? Tesla Boss LAUGHS Off Wild Report
Elon Musk has fired back at bombshell drug abuse claims, mocking The New York Times and calling the report a "hit job." But insiders aren't staying quiet — they allege Musk was on a cocktail of ketamine, ecstasy, and more during his Trump-linked political push. From erratic stage antics to drug test controversies, the story's got it all. Watch now for the full breakdown of Musk's political meltdown and the shocking allegations fueling it.
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First Post
3 days ago
- Business
- First Post
The ultimate ‘Trump' card: How US President's family is getting richer faster than most Americans
Trump-linked businesses have received over $2 billion in just the past month, according to a new report. The US president is also getting a luxury Boeing 747 worth $400 million for Qatar. While other presidential families have profited from their time in office, reports suggest the Trumps have taken it further than anyone else, turning the presidency into a source of personal gain read more Not too long ago, Donald Trump was facing doubts about his political future and serious concerns about his finances. Now, his estimated wealth has reportedly doubled. It is not just him, his family is also earning from the Trump brand . Now, there are plans that Qatar might offer him a new presidential plane. ALSO READ | What is the 'Taco' trade jibe that has angered Trump? While other presidential families have made money from their time in office, reports say the Trumps have gone further than anyone else in turning the presidency into a source of profit. STORY CONTINUES BELOW THIS AD So, how much is Donald Trump worth today? How has his wealth grown so much since he took office in January? Where is all this money coming from? We look at the answers to these questions and more. How the Trumps are getting richer A report by The New York Times says Trump-linked businesses have received at least $2 billion in the past month alone. These earnings come from ventures like real estate, cryptocurrency, and a new private club planned in Washington with a $500,000 membership fee. Meanwhile, Qatar is also said to be giving him a new presidential jet. Notably, Trump has more than doubled his net worth since the start of his reelection campaign, reaching around $5.4 billion, Bloomberg reported. One thing Trump has learned by now is that court delays can work in his favour. Last year, when he said he could not pay the $454 million fraud penalty in New York State, his lawyers asked the appeals court to either drop or lower the bond. Courts do not always agree to such requests, but this time they did, cutting it to $175 million. This helped him avoid having his assets taken. It is worth noting that the US President is doing business with governments in Serbia, the United Arab Emirates and Oman. One thing Trump has learned by now is that court delays can work in his favour. AP/File Photo The White House says there is no conflict because his sons are in charge of the companies. Still, Trump is gaining wealth from these deals. STORY CONTINUES BELOW THIS AD Even with fears of a recession in the economy, the Trump family looks set to become richer than ever. ALSO READ | What is the 'Trump Hotel Rental' scam that has duped hundreds of Indians? So, where is all this money coming from? Here's a closer look. Cryptocurrency ($TRUMP) This is the Trump family's digital currency , owned by the Republican leader and managed by Donald Trump Jr. It is not presented as an investment. Instead, it offers people another way to gamble. A recent report by State Democracy Defenders Action said that the president's crypto assets now make up almost 40% of his total wealth, around $2.9 billion. The Trump family gets a cut every time someone buys a coin. Trump has also started offering rewards. The top 220 buyers have been invited to a dinner with him next week at his golf club in Virginia. The 25 biggest buyers will also get a tour of the White House. Alongside $TRUMP, another token, $MELANIA, has also played a role in growing their wealth. My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to — Have Fun! — Donald J. Trump (@realDonaldTrump) January 18, 2025 STORY CONTINUES BELOW THIS AD The digital coin business is expected to get another push. How? This week, World Liberty Financial announced that a firm backed by Abu Dhabi will put billions into the Trump-linked crypto fund. According to a statement shared with CBS News, the Emirati firm MGX will spend $2 billion on a stablecoin product from World Liberty. Real estate Qatar has helped the Trumps secure a deal to build a high-end golf resort in the country, valued at $5.5 billion. The plan includes Trump-branded villas by the beach and an 18-hole golf course, to be built by a Saudi firm. It was the Trump Organization's first foreign project since Trump took office, and very different from those in his first term. Eric Trump looks at the 3D model of Trump International Golf Club & Trump Villas project in Doha, Qatar. Reuters/File Photo Meanwhile, a UAE-based company run by billionaire Hussain Sajwani, a long-time Trump business associate, plans to invest $20 billion in data centres across the United States. STORY CONTINUES BELOW THIS AD Sajwani's company, Damac Properties, is one of the top real estate developers in the UAE. This investment seeks to show Trump's appeal as a businessman who is able to pull in large funding. In Serbia, a former army headquarters bombed by Nato is set to be redeveloped into a luxury complex, backed by Trump's son-in-law, Jared Kushner's firm. The Serbian government approved the project last year, giving Kushner a multi-million-dollar deal, including a 99-year lease on the land, located in central Belgrade. Notably, thousands protested the move in March this year, calling for the site's historic status to be restored and the plans to be cancelled. Students protest against the government's lease of a site to Jared Kushner in Belgrade, Serbia. Reuters/File Photo Meanwhile, the Trump Organization is already earning from a project tied to Oman's government. The site includes a hotel, residences and a golf course. Another ongoing project is Trump Tower Jeddah, expected to be completed in 2029. It offers Saudi residency to those who invest about $1 million. Eric Trump was quick to praise the 47-floor project overlooking the sea STORY CONTINUES BELOW THIS AD $400 million plane by Qatar, private club and more: What other deals are bringing in money Qatar's gift of a luxury Boeing 747 jet for Donald Trump was accepted by the country's Defence Department earlier this month. 'Why should our military, and therefore our taxpayers, be forced to pay hundreds of millions of Dollars when they can get it for FREE,' Trump posted on Truth Social network during his trip. The $400 million aircraft will be used as a temporary Air Force One. Trump says his presidential library will own the plane after his presidency. Meanwhile, Amazon is also involved in several Trump family projects. The company paid $40 million to secure the rights to Melania Trump's documentary, outbidding the next highest offer by nearly three times, according to the Wall Street Journal. In Trump's first term, foreign dignitaries stayed at Trump-owned properties and Republicans hosted events there, which brought in millions of dollars. According to the New York Times, such income has resumed. Last month, the Saudi-backed LIV Golf league held a professional event at Trump National Doral in Florida. Trump arrived on a military helicopter to launch the tournament. Notably, Saudi Arabia's sovereign wealth fund manages the league. They paid the Trump family a confidential sum to hold the LIV tournament. STORY CONTINUES BELOW THIS AD Also, a private members' club linked to Trump, called Executive Branch, is set to open in Washington, DC. The club will be located below a shopping mall in Georgetown. Donald Trump Jr is one of the club's owners, along with Zach and Alex Witkoff, who are sons of Steve Witkoff, the US envoy to West Asia; Omeed Malik of 1789 Capital; and Chris Buskirk, an ally of Vice President JD Vance. The entrance fee reportedly reaches as high as $500,000. The club is expected to limit its membership to around 200 people, with admission based on more than just financial means. Among those expected to join are lobbyists, major figures from the tech industry, and some White House officials. With inputs from agencies
Yahoo
23-05-2025
- Business
- Yahoo
Justin Sun-Linked Wallet Leading Access to Trump Dinner Tagged as Belonging to HTX
The Solana wallet address credited with making Justin Sun the top holder of the TRUMP memecoin for a private dinner and VIP reception with U.S. President Donald Trump later Thursday probably belongs to Sun-linked crypto exchange HTX. Several blockchain explorers, including Arkham Intelligence and SolanaFM, tag the wallet as belonging to the cryptocurrency exchange, which acknowledged Sun as its leader in a 2023 blog post. That address now holds about $23.3 million worth of TRUMP tokens, according to on-chain data and appears at the top of the event's leaderboard, which is posted on a website publicized by Trump on his X account. The wallet is tagged 'Sun.' Sun, the founder of the Tron blockchain, said on social media that he was the top TRUMP holder in the sweepstake. The sweepstake rewards large TRUMP token holders with access to an event hosted at a Trump-owned golf club near Washington, D.C. HTX, formerly known as Huobi, was acquired by About Capital, a Hong Kong investment firm, in October 2022. Sun denied that he was involved in the acquisition in an interview with CoinDesk TV at the time. He did, however, join the exchange as a member of its global advisory board. Huobi later identified Sun as its leader in the blog post. In 2023, the platform rebranded to HTX, a nod to Huobi, Tron and "exchange." At the time, the exchange pointed to a 'commitment being all in TRON.' Sun's connection to the Trump-linked ecosystem also involves a $75 million investment in World Liberty Financial tokens, a decentralized finance initiative backed by the president's family. The Chinese-born crypto billionaire was sued by the U.S. Securities and Exchange Commission (SEC) under the Biden administration. The regulator alleged he had been 'manipulating the market' for tokens tied to his ventures and paid celebrities 'to tout' these tokens. That suit has been put on hold under the Trump administration's SEC leadership as the parties looked to find a 'potential resolution.' Under the current administration, the regulator has dismissed several lawsuits and investigations against crypto firms, including Coinbase, Kraken and Uniswap. Donald Trump's memecoin was launched just days before his inauguration earlier this year. It was met with criticism from the crypto industry and among lawmakers, over the timing of the launch and its allocation to Trump-affiliated insiders. TRUMP is at the time of writing trading at $14.64, up 11% in the last 24 hours.
The Journal
23-05-2025
- Business
- The Journal
'Back door to corruption': Trump hosts dinner for biggest investors in his cryptocurrency
US PRESIDENT DONALD Trump hosted a closed-door dinner for hundreds of top investors in his crypto memecoin yesterday, as protesters and Democratic opponents decried the event as blatant 'corruption.' The unprecedented melding of US presidential power and personal business took place at Trump's golf club outside Washington, where Trump flew by helicopter to meet the 220 biggest purchasers of his $TRUMP memecoin. The top 25 investors, according to an event website, were to get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his inauguration in January, quickly increasing his net worth by billions and prompting major, first-of-their-kind ethics questions. The White House downplayed those concerns Thursday, insisting Trump was attending in his 'personal time.' The president posted on his Truth Social platform ahead of the event that 'the U.S.A. is DOMINATING in Crypto, Bitcoin, etc.' and pledged to 'keep it that way.' Photos posted online by attendees to the dinner – press were not allowed inside – showed a lectern sporting the presidential seal, apparently for Trump to deliver remarks. Protesters gathered outside the golf course despite rainy skies, some carrying signs reading 'stop crypto corruption' and 'no kings.' Earlier in the day, Democratic senators held a press conference to denounce the event and call for disclosure of who would be attending. Calling the dinner 'an orgy of corruption,' Senator Elizabeth Warren slammed Trump for 'using the presidency of the United States to make himself richer through crypto.' Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. 'Slap in the face' A site listing the 'official winners' of $TRUMP coin holders included only usernames and digital wallet addresses, with the number-one spot held by 'Sun.' Chinese-born crypto entrepreneur Justin Sun has touted a $20 million commitment to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Advertisement Sun, founder of top 10 cryptocurrency TRON, was under investigation by US authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. 'Apparently, I'm at the VIP lounge waiting for the President to come with everybody,' a tuxedo-clad Sun said in a video posted on X Thursday evening. Trump departed the golf course just over an hour after his arrival. Justin Unga of advocacy group End Citizens United described the crypto dinner as a blatant example of Trump profiting from the presidency while roiling the US economy. 'Some say this is a back door to corruption,' Unga said. 'I would argue it's the front door with valet parking, and it's got a red carpet… and a slap in the face of hard working Americans.' Expanding empire The dinner came as the US Senate is pushing through legislation to more clearly regulate cryptocurrencies, a long-sought request of the industry, and as Trump expands his business network into the field. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins — a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the US market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. The company's founding team includes Donald Jr. and Eric Trump alongside Zach Witkoff, son of Trump's diplomatic adviser. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a 'Strategic Bitcoin Reserve' for government holdings of the leading digital currency.
The Sun
23-05-2025
- Business
- The Sun
Trump attends memecoin gala
WASHINGTON: US President Donald Trump hosted a closed-door dinner for hundreds of top investors in his crypto memecoin Thursday, as sign-holding protesters outside and Democratic opponents decried the event as blatant 'corruption.' The unprecedented melding of US presidential power and personal business took place at Trump's golf club outside Washington, where Trump flew by helicopter to meet the 220 biggest purchasers of his $TRUMP memecoin. The top 25 investors, according to an event website, were to get a private session with Trump beforehand and a White House tour. Trump launched the memecoin three days before his inauguration in January, quickly increasing his net worth by billions and prompting major, first-of-their-kind ethics questions. The White House downplayed those concerns Thursday, insisting Trump was attending in his 'personal time.' The president posted on his Truth Social platform ahead of the event that 'the U.S.A. is DOMINATING in Crypto, Bitcoin, etc.' and pledged to 'keep it that way.' Photos posted online by attendees to the dinner -- press were not allowed inside -- showed a lectern sporting the presidential seal, apparently for Trump to deliver remarks. Protesters gathered outside the golf course despite rainy skies, some carrying signs reading 'stop crypto corruption' and 'no kings.' Earlier in the day, Democratic senators held a press conference to denounce the event and call for disclosure of who would be attending. Calling the dinner 'an orgy of corruption,' Senator Elizabeth Warren slammed Trump for 'using the presidency of the United States to make himself richer through crypto.' Data analytics firm Inca Digital has confirmed that many transactions occurred through international exchanges unavailable in the United States, suggesting foreign buyers. - 'Slap in the face' - A site listing the 'official winners' of $TRUMP coin holders included only usernames and digital wallet addresses, with the number-one spot held by 'Sun.' Chinese-born crypto entrepreneur Justin Sun has touted a $20 million commitment to the memecoin as part of his $93 million total investment in Trump-linked crypto ventures. Sun, founder of top 10 cryptocurrency TRON, was under investigation by US authorities for market manipulation, but regulators, now controlled by Trump appointees, agreed in February to a 60-day pause to seek a settlement. 'Apparently, I'm at the VIP lounge waiting for the President to come with everybody,' a tuxedo-clad Sun said in a video posted on X Thursday evening. Trump departed the golf course just over an hour after his arrival. Justin Unga of advocacy group End Citizens United described the crypto dinner as a blatant example of Trump profiting from the presidency while roiling the US economy. 'Some say this is a back door to corruption,' Unga said. 'I would argue it's the front door with valet parking, and it's got a red carpet... and a slap in the face of hard working Americans.' - Expanding empire - The dinner came as the US Senate is pushing through legislation to more clearly regulate cryptocurrencies, a long-sought request of the industry, and as Trump expands his business network into the field. Senators on Monday advanced a landmark bill known as the GENIUS Act that proposes a regulatory framework for stablecoins -- a type of crypto token seen as more predictable for investors as its value is pegged to hard currencies like the dollar. Bitcoin's price hit a new all-time high on Thursday, climbing above $111,000 before falling slightly. Trump's newfound enthusiasm for digital currencies has expanded into multiple ventures led primarily by his eldest sons. Their growing portfolio includes investments in Binance, a major crypto exchange whose founder seeks a presidential pardon to re-enter the US market. This investment flows through World Liberty Financial, a Trump family-backed venture launched last September with significant Mideast deals. The company's founding team includes Donald Jr. and Eric Trump alongside Zach Witkoff, son of Trump's diplomatic adviser. President Trump has taken concrete steps to reduce regulatory barriers, including an executive order establishing a 'Strategic Bitcoin Reserve' for government holdings of the leading digital currency.
