On January 20, Donald Trump will return to the White House with his hat as majority shareholder of the TMTG company. Fears of conflicts of interest, already raised during his first mandate, take on a new dimension: plunged into a financial empire sensitive to foreign influences
Published on November 26, 2024 at 6:29 p.m. / Modified on November 26, 2024 at 6:40 p.m.
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Donald Trump built his career on his image as an accomplished businessman, but his real fortune remains a subject of question
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The future American president has launched into new activities between his two terms, but as during his first presidency, he does not intend to divest from them
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This second mandate revives fears of conflicts of interest and foreign influence, particularly in the field of cryptocurrencies and around its social network Truth Social
Real estate, entertainment, resorts, golf clubs or cryptocurrencies. And, the latest baby, Trump Media & Technology Group (TMTG), a media company founded between two presidential terms and parent company of Truth Social, an ultra-conservative social network and haven for conspiracy networks. Once again, Donald Trump will enter the White House accompanied… by his financial empire. Once again, he will not part with his assets or place them in an independent trust. “I have no intention of selling,” he said on Truth Social of the 115 million shares he owns in TMTG, making him the majority shareholder. So, as during his first mandate, his personal ambitions raise fears of new conflicts of interest. And this time, the “safeguards” are particularly limited: the system relies mainly on the good faith of the president; the few rules in force are not suitable for a billionaire; recent legal decisions protect him from certain prosecutions and Congress is committed to the cause of the Grand Old Party.
Especially since among the cabinet members already appointed by Donald Trump, business leaders feature prominently. Mostly millionaires, the future president’s inner circle also includes four billionaires (not counting Elon Musk and Vivek Ramaswamy, appointed to head the Department of Government Effectiveness), making his cabinet the richest in American history. An ultimately unsurprising picture for the 47th President of the United States, who built his career and his popularity partly on his image. Because Donald Trump is a financial empire whose fortune is estimated at $5.6 billion, according to Forbes. But it is also an illusion: that of the success of a man who would be the architect of his own success. A confusion that he knows how to use to win.
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