Latest news with #TrumpBusinessVision2025
Boston Globe
05-05-2025
- Business
- Boston Globe
Trump sons' deals on three continents directly benefit the president
Advertisement 'Challenge everything,' said the brochure for the new $1 billion, 80-story Trump International Hotel and Tower planned for Dubai, where units went on sale for the first time at prices reaching $20 million apiece, after a giant party held in Dubai this past week to honor Eric Trump and the new project. 'Stop at nothing.' Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The marathon of deal-making has been so rapid that many elements have drawn limited public attention in the United States, despite most of it being out in the open. That is in part because the sons appeared before mostly fawning crowds but also because the president, his appointees, and his billionaire adviser Elon Musk were making headlines with their own steady stream of norm-breaking controversies. 'There's nothing like it,' said Douglas Brinkley, a Rice University historian who has written books on Presidents Ronald Reagan and Gerald Ford, addressing the financial conflicts of interest that have emerged in Donald Trump's second term. Advertisement Both Trump sons are involved in a wide range of family business ventures. Eric Trump, the president's middle son, runs the Trump Organization, the main family business, which specializes in real estate. He also serves on the board of a holding company that oversees World Liberty Financial, the family's cryptocurrency firm, and recently joined forces with his older brother, Donald Trump Jr., to start a bitcoin mining operation, American Bitcoin. The White House has said there are no ethics issues because Donald Trump's sons run the businesses. 'The president's assets are in a trust managed by his children,' Anna Kelly, a White House spokesperson, said. 'There are no conflicts of interest.' But Trump's financial disclosure report, which he is legally required to file, shows that he still personally benefits financially from most of these ventures. Eric Trump noted that many of the ventures they are promoting — from crypto to real estate — were underway before their father was reelected. 'We are building the most iconic projects on earth and leading the way in the digital revolution,' Eric Trump said in a statement to The New York Times. Donald Trump Jr. rejected any suggestion that he was trading on his father's name, saying he has been a businessperson his entire adult life. Just in the past 10 days, Donald Trump Jr. made stops in Hungary, Romania, Serbia, and Bulgaria on a paid-speech tour he has called 'Trump Business Vision 2025,' which also included visits with foreign government leaders and political candidates. During roughly the same time, Eric Trump was shuttling among Qatar, the United Arab Emirates, and other Middle East spots to push the family's real estate and crypto plans. Advertisement These pitches played out even as some of Donald Trump Jr.'s business partners were simultaneously rolling out yet another business in Washington that will cash in on his father's return to the White House: a club called Executive Branch. At $500,000 a person, the private membership club is slated to open by this summer in Georgetown in a sprawling, but defunct, restaurant called Clubhouse. It will feature two bars, a lounge, a restaurant, and boardroom — recreating the role previously served by the lobby of the Trump International Hotel in Washington, where donors and acolytes of the president gathered until the family sold it off after Trump's first term. The club soon will most likely be jammed with Trump family friends, business executives and members of the Trump administration, but will be off limits to members of the public and most members of the news media. An A-list party was held late last month to celebrate the launch of Executive Branch — while Donald Trump Jr. was in Europe — at a hotel a block from the White House. Attendees included Pam Bondi, the attorney general, and Paul Atkins, the new chair of the Securities and Exchange Commission. The founding members of the club, which has already sold many of its membership slots according to organizers, include Cameron and Tyler Winklevoss, cryptocurrency executives whose company, Gemini Trust, had been targeted by the SEC until the president named new agency leaders, who in April put a hold on the federal lawsuit. Advertisement Even as these real-life ventures were playing out, another push for profit was underway in the virtual world. Investors in the $Trump meme coin are bidding to become the top 220 owners of the collectible coin and win a dinner with the president later this month. A meme coin is a type of cryptocurrency based on an online joke or celebrity mascot that has no practical function other than speculation. The $Trump meme coin is controlled by a company run by the Trump sons and their business partners, but the president has actively encouraged his supporters to buy it. In some cases, the Trump-family announcements over the past week have involved foreign governments, including those of Qatar and the United Arab Emirates. Eric Trump flew to Doha, the capital of the tiny Middle East nation of Qatar, on Wednesday as a government official there signed a deal with a Saudi-based real estate company to build a new Trump golf course and luxury villa complex, a partnership that will bring millions of dollars in branding and management fees to the Trump family. This is one of six real estate projects now planned in the Middle East, sponsored by Dar Global, the international subsidiary of a Saudi-based real estate firm with close ties to the Saudi royal family. The other projects are in Saudi Arabia, Oman, and Dubai. 'They always arrive at the word 'yes,' which is a beautiful thing,' Eric Trump said while in Dubai this past week, saying that it took only a month to get the required real estate permits from the government there. 'They do it quickly.' Advertisement This article originally appeared in
Time of India
05-05-2025
- Business
- Time of India
'Laughable': Donald Trump Jr, brother Eric reject allegations of making deals on President's name
Donald Trump's sons traveled across the world in the past two weeks striking major business deals. Donald Trump Jr and Eric Trump spent the past two weeks pursuing a 'blitz of family moneymaking ventures' in Dubai, Saudi Arabia , Qatar and also in the US, New York Times reported, accusing them of capitalizing on President Donald Trump's name and power. The new ventures will benefit President Trump himself, the report said. But the White House rejected that there are any ethics issues or any conflicts of interest as Don Jr and Eric Trump manage Trump's businesses and have been doing so for a long time now. Donald Trump Jr said he has been a businessman his entire life, unlike Hunter Biden, who sold paintings when Joe Biden was the president. 'It's laughable that the left-wing media thinks that I should lock myself in a padded room while my father is president and cease doing what I've been doing for over 25 years to earn a living and provide for my five children,' Donald Trump Jr said in a statement to NYT. 'However, if I did do that, I guess I could always take up painting, which I hear can be quite lucrative.' Eric Trump said many of these ventures -- from crypto to real estate -- were underway even before Donald Trump was re-elected. 'We are building the most iconic projects on earth and leading the way in the digital revolution,' Eric Trump said in a statement to NYT. White House spokesperson Anna Kelly said there are no conflicts of interest as the president's assets are in a trust managed by his children. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Remarkable Oscar Outfits Ever Interesticle Undo What are the Trump family's new business ventures? A luxury hotel in Dubai, a second residential tower in Jeddah, a new golf course and villa complex in Qatar, two cryptocurrency ventures in the US are among the new deals. And then there is Donald Trump Jr's new private club 'Executive Branch' which will charge $500,000 per member. Eric Trump attended Token2049, the biggest crypto conference panel in Dubai, while Donald Trump Jr was visiting Hungary, Romania, Serbia and Bulgaria on a paid-speech tour called 'Trump Business Vision 2025'.
CNA
28-04-2025
- Business
- CNA
At event with Donald Trump Jr in Bulgaria, crypto firm Nexo announces US return
While hosting the eldest son of U.S. President Donald Trump at a conference in Bulgaria on Sunday, crypto company Nexo Capital said it plans to return to the American market, two years after it paid a $45 million fine to settle U.S. regulatory charges. Donald Trump Jr. was the star speaker in Sofia on Sunday at an event headlined "Trump Business Vision 2025" hosted by Nexo. Trump Jr., who has no official position in the U.S. government, was in the Bulgarian capital city as part of a tour across Eastern Europe. Nexo's co-founder Antoni Trenchev told Reuters that the crypto firm plans to return to the U.S. in the coming months, and that it was having "constructive" conversations with regulators including the U.S. Securities and Exchange Commission (SEC), without giving further details. The SEC declined to comment. Contacted through an aide, Trump Jr. did not respond to questions about Nexo. In a statement released by Nexo on Monday, Trump Jr. said that crypto is "the future of finance." "We see the opportunity for the financial sector and want to ensure we bring that back to the U.S.," he said. Nexo co-founder Trenchev said that Trump Jr. was not helping the company to return to the U.S. but was 'spreading the message that crypto is important to the United States and setting the stage.' The Cayman Islands company had previously left the U.S. after disputes with regulators over a crypto lending product, which had resulted in Nexo agreeing in 2023 to pay $45 million in penalties to settle charges from the SEC and state regulators. Nexo's planned re-entry comes as President Trump has heralded a major shift in government approach to the crypto industry. The U.S. president, who courted crypto companies on the campaign trail, has called for easing crypto regulations and even launched his own cryptocurrency. President Trump's embrace of cryptocurrencies represents a turnaround for the industry which came under scrutiny from regulators after a series of collapses at top crypto companies in 2022 exposed widespread misconduct and left millions of investors out of pocket. Since Trump took office, the SEC has paused or dropped various pending lawsuits against crypto firms, and U.S. banking regulators have scrapped guidance warning banks to be cautious about crypto-related risks. Trump handed over daily management of his multi-billion-dollar business portfolio to his children on entering the White House, but critics have raised concerns about potential conflicts of interest from the family's business ventures which include cryptocurrency and social media. The Trump family is building its own crypto business, World Liberty Financial, which lists Donald Trump Jr. as an ambassador. Trenchev, who previously served as a lawmaker in Bulgaria, said there had been a "tectonic shift" in U.S. attitudes towards crypto. "It is more than just mere talk, there is actual work being done so that the United States does emerge as the place to be for crypto, and we are experiencing this first hand," Trenchev said. In a statement, Nexo described Sunday's invite-only event in Sofia as "a high-level dialogue on finance, technology, and the deepening alignment between American enterprise and international capital." The conference featured speeches by Trump Jr. in his capacity as executive vice president of The Trump Organization, President Trump's family business, and Gila Gamliel, Israel's minister of innovation, science and technology.
Yahoo
28-04-2025
- Business
- Yahoo
At event with Donald Trump Jr in Bulgaria, crypto firm Nexo announces US return
By Elizabeth Howcroft and David Gauthier-Villars (Reuters) -While hosting the eldest son of U.S. President Donald Trump at a conference in Bulgaria on Sunday, crypto company Nexo Capital said it plans to return to the American market, two years after it paid a $45 million fine to settle U.S. regulatory charges. Donald Trump Jr. was the star speaker in Sofia on Sunday at an event headlined "Trump Business Vision 2025" hosted by Nexo. Trump Jr., who has no official position in the U.S. government, was in the Bulgarian capital city as part of a tour across Eastern Europe. Nexo's co-founder Antoni Trenchev told Reuters that the crypto firm plans to return to the U.S. in the coming months, and that it was having "constructive" conversations with regulators including the U.S. Securities and Exchange Commission (SEC), without giving further details. The SEC declined to comment. Contacted through an aide, Trump Jr. did not respond to questions about Nexo. In a statement released by Nexo on Monday, Trump Jr. said that crypto is "the future of finance." "We see the opportunity for the financial sector and want to ensure we bring that back to the U.S.," he said. Nexo co-founder Trenchev said that Trump Jr. was not helping the company to return to the U.S. but was 'spreading the message that crypto is important to the United States and setting the stage.' The Cayman Islands company had previously left the U.S. after disputes with regulators over a crypto lending product, which had resulted in Nexo agreeing in 2023 to pay $45 million in penalties to settle charges from the SEC and state regulators. Nexo's planned re-entry comes as President Trump has heralded a major shift in government approach to the crypto industry. The U.S. president, who courted crypto companies on the campaign trail, has called for easing crypto regulations and even launched his own cryptocurrency. President Trump's embrace of cryptocurrencies represents a turnaround for the industry which came under scrutiny from regulators after a series of collapses at top crypto companies in 2022 exposed widespread misconduct and left millions of investors out of pocket. Since Trump took office, the SEC has paused or dropped various pending lawsuits against crypto firms, and U.S. banking regulators have scrapped guidance warning banks to be cautious about crypto-related risks. Trump handed over daily management of his multi-billion-dollar business portfolio to his children on entering the White House, but critics have raised concerns about potential conflicts of interest from the family's business ventures which include cryptocurrency and social media. The Trump family is building its own crypto business, World Liberty Financial, which lists Donald Trump Jr. as an ambassador. Trenchev, who previously served as a lawmaker in Bulgaria, said there had been a "tectonic shift" in U.S. attitudes towards crypto. "It is more than just mere talk, there is actual work being done so that the United States does emerge as the place to be for crypto, and we are experiencing this first hand," Trenchev said. In a statement, Nexo described Sunday's invite-only event in Sofia as "a high-level dialogue on finance, technology, and the deepening alignment between American enterprise and international capital." The conference featured speeches by Trump Jr. in his capacity as executive vice president of The Trump Organization, President Trump's family business, and Gila Gamliel, Israel's minister of innovation, science and technology. Nexo's products include crypto-backed loans, crypto trading tools and a crypto exchange. Sign in to access your portfolio
Reuters
28-04-2025
- Business
- Reuters
At event with Donald Trump Jr in Bulgaria, crypto firm Nexo announces US return
Summary Companies Crypto company hosts Donald Trump Jr. in Bulgaria Nexo Capital Inc says plans to return to U.S. Nexo holding "constructive" conversations with regulators April 28 (Reuters) - While hosting the eldest son of U.S. President Donald Trump at a conference in Bulgaria on Sunday, crypto company Nexo Capital said it plans to return to the American market, two years after it paid a $45 million fine to settle U.S. regulatory charges. Donald Trump Jr. was the star speaker in Sofia on Sunday at an event headlined "Trump Business Vision 2025" hosted by Nexo. Trump Jr., who has no official position in the U.S. government, was in the Bulgarian capital city as part of a tour across Eastern Europe. here. Nexo's co-founder Antoni Trenchev told Reuters that the crypto firm plans to return to the U.S. in the coming months, and that it was having "constructive" conversations with regulators including the U.S. Securities and Exchange Commission (SEC), without giving further details. The SEC declined to comment. Contacted through an aide, Trump Jr. did not respond to questions about Nexo. In a statement released by Nexo on Monday, Trump Jr. said that crypto is "the future of finance." "We see the opportunity for the financial sector and want to ensure we bring that back to the U.S.," he said. Nexo co-founder Trenchev said that Trump Jr. was not helping the company to return to the U.S. but was 'spreading the message that crypto is important to the United States and setting the stage.' The Cayman Islands company had previously left the U.S. after disputes with regulators over a crypto lending product, which had resulted in Nexo agreeing in 2023 to pay $45 million in penalties to settle charges from the SEC and state regulators. Nexo's planned re-entry comes as President Trump has heralded a major shift in government approach to the crypto industry. The U.S. president, who courted crypto companies on the campaign trail, has called for easing crypto regulations and even launched his own cryptocurrency. President Trump's embrace of cryptocurrencies represents a turnaround for the industry which came under scrutiny from regulators after a series of collapses at top crypto companies in 2022 exposed widespread misconduct and left millions of investors out of pocket. Since Trump took office, the SEC has paused or dropped various pending lawsuits against crypto firms, and U.S. banking regulators have scrapped guidance warning banks to be cautious about crypto-related risks. Trump handed over daily management of his multi-billion-dollar business portfolio to his children on entering the White House, but critics have raised concerns about potential conflicts of interest from the family's business ventures which include cryptocurrency and social media. The Trump family is building its own crypto business, World Liberty Financial, which lists Donald Trump Jr. as an ambassador. Trenchev, who previously served as a lawmaker in Bulgaria, said there had been a "tectonic shift" in U.S. attitudes towards crypto. "It is more than just mere talk, there is actual work being done so that the United States does emerge as the place to be for crypto, and we are experiencing this first hand," Trenchev said. In a statement, Nexo described Sunday's invite-only event in Sofia as "a high-level dialogue on finance, technology, and the deepening alignment between American enterprise and international capital." The conference featured speeches by Trump Jr. in his capacity as executive vice president of The Trump Organization, President Trump's family business, and Gila Gamliel, Israel's minister of innovation, science and technology. Nexo's products include crypto-backed loans, crypto trading tools and a crypto exchange.
