Will Trump's next term make him richer?

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🗓️ 3 December 2024

⏱️ 13 minutes

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Summary

Just before Donald Trump took office the first time, he held a press conference, announcing that he would turn over control of his business empire to his sons.

He said he wanted to address concerns about conflicts of interest even though he maintained he didn't really have to. Saying, "I could actually run my business. I could actually run my business and run government at the same time. I don't like the way that looks, but I would be able to do that if I wanted to."

Trump's second term may put that theory to the test. The former and future president hasn't yet announced any plan to wall himself off from his businesses while in office, and Trump's businesses like his many hotels and resorts could benefit substantially from his actions as President.

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Transcript

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0:00.0	President-elect Donald Trump won his first term by campaigning as a businessman, not a politician.
0:07.1	When he got into office, he never really stopped being Trump the businessman.
0:11.2	Even though he gave up direct control of his companies, he regularly talked up his properties as president.
0:17.5	In 2019, the White House announced that it would host the G7 meeting of world leaders
0:22.5	at Trump's resort in Doral, Florida, a decision he first teased at a press conference with
0:28.0	then German Chancellor Angela Merkel.
0:29.7	It's right next to the airport, right there, meaning, you know, a few minutes away.
0:35.0	It's a great place. It's got tremendous acreage.
0:39.3	This was set to be a massive gathering, with lots of foreign money flowing into a business
0:44.2	owned by the president. Later that day, a reporter asked Trump if he was concerned about the
0:49.2	ethics of the choice.
0:52.6	The G7 never did take place at Trump's Doral Resort, but Trump's other properties
0:57.7	frequently hosted the president and his Secret Service detail at taxpayer expense.
1:04.1	As he prepares for a second term in the White House, Trump's business interests have expanded
1:08.8	beyond hotels and resorts.
1:14.5	He has a multi-billion dollar stake in the media company that runs truth social,
1:16.7	which he says he has no intention of selling.
1:18.8	No, I'm not selling. No, I love it.
1:22.0	I mean, I use it as a method of getting out my word.
1:25.9	And after boosting the cryptocurrency industry during his campaign, I'm laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world.
1:35.3	And we'll get it done.
1:37.3	He unveiled a crypto company of his own this fall.
	...

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