Spotlights
EXPOSED: How Donald Trump sons’ using government power to make money for family business
A contest of sorts has played out across Europe, the United States and the Middle East in recent days as President Trump’s two older sons have pursued a blitz of family moneymaking ventures capitalizing on their father’s name and power, each seemingly trying to outdo the other, as reported by The New York Times.
It is a rush to cash in that involves billions of dollars with few precedents in American history.
A luxury hotel in Dubai. A second high-end residential tower in Jeddah, Saudi Arabia. Two cryptocurrency ventures based in the United States. A new golf course and villa complex in Qatar. And a new private club in Washington. In many cases these new deals promoted over the last week will personally benefit not only Eric Trump and Donald Trump Jr., but also President Trump himself.
“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.”
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 President Trump, 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 R. Ford, addressing the financial conflicts of interest that have emerged in Mr. Trump’s second term.
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 crypto 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 Mr. Trump’s sons run the businesses. “The president’s assets are in a trust managed by his children,” Anna Kelly, a White House spokeswoman, said. “There are no conflicts of interest.”
But Mr. 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 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 The New York Times.
Donald Trump Jr. rejected any suggestion that he was trading on his father’s name, saying he has been a businessman his entire adult life. He then took a swipe at Hunter Biden, who sold paintings while his father, Joseph R. Biden Jr., served as 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 The Times. “However, if I did do that, I guess I could always take up painting, which I hear can be quite lucrative.”
Indeed, relatives of other presidents — including Billy Carter (brother of President Jimmy Carter) and Neil Bush (brother of President George W. Bush), along with Hunter Biden — have had business dealings that have created questions about potential conflicts of interest.
What distinguishes the work of Mr. Trump’s two sons is that several of these ventures, including the real estate deals and crypto efforts, bring revenues that benefit the president himself as well.
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.
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 — re-creating 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 Mr. Trump’s first term.
The Trump International Hotel in Washington, which Mr. Trump sold in 2022. His oldest son is now helping open a new D.C. club called Executive Branch.Credit…Kenny Holston for The New York Times
The club soon likely will 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 chairman 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, the cryptocurrency executives whose company, Gemini Trust, had been targeted by the S.E.C. until Mr. Trump named new agency leaders, who in April put a hold on the federal lawsuit.
Jeff Miller, a lobbyist and top Trump fund-raiser, is another founding member. In the first quarter of this year, he has registered to represent 39 new corporate clients, including the crypto firm Tether, an overseas operation that was a longtime target of U.S. regulators until recently, when it began to establish itself as a major force in Washington and explore opening a U.S. office.
The other owners at the new club, besides Donald Trump Jr., include Zach and Alex Witkoff — the sons of Mr. Trump’s Middle East envoy — and Omeed Malik, who leads 1789 Capital, a Florida-based venture capital firm that recently hired Donald Trump Jr. as a senior executive. The investments for 1789 Capital have included companies such as Plaid, a digital finance firm that had lobbied the Consumer Financial Protection Bureau related to a new set of banking rules — until Mr. Trump’s team effectively shut down the agency and stalled enforcement of the regulation.
David Sacks, who is a crypto adviser to Mr. Trump and another founding member, said the goal is not to create a venue for access. Rather, he said in a recent podcast, “we want a place to hang out in D.C.” for the “younger, hipper, Trump-aligned Republican.”
Even as these real-life ventures were playing out, another push for profit was underway in the virtual world. Investors in the $Trump memecoin are bidding to become the top 220 owners of the collectible coin and win a dinner with the president later this month. A memecoin is a type of cryptocurrency based on an online joke or celebrity mascot that has no practical function other than speculation.
The $Trump memecoin is controlled by a company run by the Trump sons and their business partners, but President Trump has actively encouraged his supporters to buy it.
Javier Selgas, chief executive at Fr8Tech, a shipping company, announced this past week — while Eric Trump and Donald Trump Jr. were abroad — that his Monterrey, Mexico-based company would spend $20 million to buy $Trump memecoin tokens.
Buying the tokens — in essence, giving money to the Trump family — is “an effective way to advocate for fair, balanced and free trade between Mexico and the U.S.,” Mr. Selgas said in a statement, which was also filed with the S.E.C., as his company is publicly traded.
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.”
On a crypto conference panel in Dubai, Eric Trump sat next to Zach Witkoff, one of the founders of the Trump family crypto firm, World Liberty Financial, who announced that a venture capital firm backed by the government of Abu Dhabi would invest $2 billion using a form of digital currency offered by World Liberty. This deal alone could generate hundreds of millions of dollars in revenue for the Trump family and its partners.
Donald Trump Jr. had gotten a head start on his brother, arriving on April 25 in Budapest, where he had a brief meeting with Hungary’s foreign minister, Peter Szijjarto, and then was paid to appear at a dinner gathering among business leaders.
“I’m just here as a business guy, but as someone who understands how the world works,” Donald Trump Jr. told an executive from Portfolio Hungary, the organization that sponsored the event, adding that while he was in Eastern Europe and the Balkans he was looking for possible new deals. “You never know if there is going to be a Trump real estate deal.”
His next stop was Serbia, where the Trump family is planning a new hotel on land owned by the government there. He met with President Aleksandar Vucic, whose administration approved the hotel project, which also includes Jared Kushner, Mr. Trump’s son-in-law, as the developer. “No one has ever said that we are inhospitable: We prepared this pig for Donald Jr Trump,” Mr. Vucic boasted on his Facebook page, about his meal with Mr. Trump.
Donald Trump Jr. then moved on to Bulgaria, where he appeared on a stage along with Antoni Trenchev, the co-founder of a cryptocurrency firm called Nexo that was fined $45 million by the S.E.C. in 2023 and agreed to leave the U.S. marketplace.
With Donald Trump Jr. at his side, Mr. Trenchev announced that Nexo had already talked to United States regulators and it was re-entering the U.S. market. “America is back — and so is Nexo,” Mr. Trenchev said, celebrating his meeting where he paid to be with the son of the president of the United States, as well as the company’s pending return to the market there.
President Trump, in recent days, was doing his part as well to help drive business to the family.
He attended a fund-raising event at his Mar-a-Lago club in Florida this past weekend. That makes his 10th visit to the club since he returned to the White House in January, with many of the weekend visits featuring political gatherings that pay bills to his family.
The New York Times
Excitement has erupted among many Nigerians as President Tinubu’s economic policies begin to deliver promising results.
The Central Bank of Nigeria (CBN) has implemented stricter controls while maintaining a lower exchange rate at official windows.
However, the limited access and stringent allocation restrictions have compelled numerous importers, businesses, and students seeking to study abroad to resort to the parallel market.
Data from the Central Bank of Nigeria (CBN) showed that the naira rose to N1,506.08 to a dollar on Wednesday at the Nigerian Foreign Exchange Market (NFEM). The last time it was that strong was on the 5th of March, 2025, when it closed at N1,500.80/$.
The naira has continued to enjoy rare stability, driven by the various policies of the apex Bank, including maintaining a high interest rate, a move that has lured in foreign capital and made the currency firmer.
Nigeria’s naira has witnessed some turbulence years after the authorities relaxed currency controls, effectively floating the currency to be more determined by market forces. That saw the unit fall by over 70 percent and disrupted business plans of many firms in Africa’s most populous nation.
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But those eras of sharp swings are phasing out as the local currency is expected to continue its rally until the end of the year, with global investment bank JP Morgan forecasting the naira to close 2025 at N1,450 per dollar.
A potential rate cut by the United States Federal Reserve also bodes well for the naira’s long-term stability as global capital finds its way into emerging markets like Nigeria, further bolstering the calmness of the currency.
“A lower US interest rate would diminish the relative attractiveness of US assets, prompting global investors to seek higher returns in emerging markets like Nigeria. Consequently, Nigeria will likely experience increased portfolio inflows, particularly into the fixed-income market,” analysts at FBNQuest Merchant Bank wrote in a note recently.
“Renewed interest by offshore investors could potentially bolster foreign exchange reserves and support the stability of the Naira.”
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The Nigeria’s national grid has again collapsed with the total of 50 Mega Watts drop, according to the report that emerged after the incident.
A breakdown of the affected states indicted that the collapse, which happened around 12:25 pm on Wednesday, September 10, affected 11 states, including the Federal Capital Territory (FCT). ...click link for full list here
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Below is the states and the affected areas according to The Cable:
1. Abuja DisCo: 20 MW
2. Benin DisCo: 10 MW
3. Eko DisCo: 0 MW
4. Enugu DisCo: 0 MW
5. Ibadan DisCo: 20 MW
6. Ikeja DisCo: 0 MW
7. Jos DisCo: 0 MW
8. Kaduna DisCo: 0 MW
9. Kano DisCo: 0 MW
10. PHarcourt DisCo: 0 MW
11. Yola DisCo: 0 MW
Total: 50 MW
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Delta State Governor, Rt. Hon. Sheriff Oborevwori, has commended the South-South states for their immense contributions to Nigeria’s growth and stability, describing the region as a critical pillar of the nation’s economic and social development.
Speaking on Sunday at the 2025 Passover Conference and dedication of the children of Apostle Charles Osazuwa, Founder of Rock of Ages Christian Assembly International, in Benin City, Edo State, the Governor stressed that the South-South remained central to Nigeria’s prosperity, given its oil and gas wealth, agricultural resources, and human capital.
Oborevwori maintained that a stronger collaboration with the Federal Government was essential to closing the development gaps and ensure that the region fully benefits from its natural endowments.
He also underscored the need for unity among South-South states in engaging the Federal Government on key issues of infrastructure, environmental protection, and economic diversification.
“A united South-South voice will not only fast-track development but also strengthen security and promote inclusive growth across our region,” the Governor said.
On the occasion, which he described as both spiritual and instructive, Oborevwori emphasized the value of thanksgiving and faith.
“Whenever God does something, it is only right that we appreciate Him. Today, we have not only witnessed the dedication, but we have also received a powerful message, one that has truly blessed us. I took notes myself because there was so much to take home,” he added.
The Governor highlighted the cultural, spiritual, and historical bond between Delta, Edo, and Bayelsa states, describing them as “one people with the same roots and destiny.”
He noted that the unity of the three states was reflected in their collective achievements, citing their strong outings at recent national sporting events as evidence of shared progress.
“At the National Youth Games, Delta came second and Edo came third. In Ogun State, Delta took first while Bayelsa came second. Whenever one of us shines, we all shine. That is the strength of our brotherhood,” he remarked.
Oborevwori also commended Apostle Osazuwa and his ministry for their integrity and commitment to the gospel, praying that the church would continue to grow in strength and impact.
Edo State Governor, Senator Monday Okpebholo, represented by his deputy, Rt. Hon. Dennis Idahosa, assured that his administration remained committed to promoting Christianity through good governance.
Similarly, Bayelsa State Governor, Senator Douye Diri, represented by his deputy, Senator Lawrence Ewhrudjakpo, congratulated Apostle Osazuwa on the dedication of his triplets, describing him as a genuine man of God who preaches with ease and conviction.
In his remarks, Apostle Osazuwa urged Governors Monday Okpebholo and Sheriff Oborevwori to leverage their offices to press the Federal Government for the urgent rehabilitation of the dilapidated Benin–Sapele Road, lamenting the severe hardships it continues to inflict on motorists.
Earlier, in a sermon titled “Understanding the Power of Effective Prayer,” Apostle Osazuwa stressed the potency of prayer as a vital tool for believers to effect change, overcome afflictions, and engage in spiritual warfare.
He described prayer as a two-way communication between man and God, noting its mystery and transformative power.
The event attracted dignitaries, including immediate past Governor of Delta State, Senator Ifeanyi Okowa; the Speaker of Delta State House of Assembly, Rt. Hon. Emomotimi Guwor, Pastor Osagie Ize-Iyamu; Prof. Idia Ize-Iyamu; alongside worshippers and well-wishers who joined the Osazuwa family in thanksgiving.
The Economic and Financial Crimes Commission (EFCC) has declared Olasijibomi Suji Ogundele, founder of Sujimoto Luxury Construction Limited, wanted for allegedly diverting funds and engaging in money laundering.
The declaration was contained in a notice issued by the EFCC’s Head of Media and Publicity, Dele Oyewale, and circulated to the public via its official X account.
According to the Commission, Ogundele is wanted in connection with an alleged case of diversion of funds and money laundering being investigated by its Lagos Command
“The public is hereby notified that OLASIJIBOMI SUJI OGUNDELE of Sujimoto Luxury Construction Limited, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission (EFCC) in an alleged case of Diversion of Funds and Money Laundering,” the commission stated.
Public appeal for information
The EFCC urged members of the public with useful information on his whereabouts to contact its offices across the country.
The notice described him as a 44-year-old indigene of Ori-Ade Local Government Area of Osun State. His last known address was listed as G29, Banana Island, Ikoyi, Lagos State.
“Anybody with useful information as to his whereabouts should please contact the Commission in its Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt or Abuja offices or through 08093322644; its e-mail address: info@efcc.gov.ng or the nearest Police Station and other security agencies,” the notice read.
The controversies surrounding Olasijibomi Suji Ogundele, the founder of Sujimoto Luxury Construction Limited, did not just begin.
In October 2024, he was under police investigation following allegations of a $325,000 real estate fraud. According to reports, a client had paid the sum for a three-bedroom apartment in the Leonardo project in Banana Island, Lagos, but neither received the property nor a refund.
The Police Force Criminal Investigations Department (FCID) invited Ogundele for questioning, but he initially failed to respond, opting instead to file a fundamental rights suit to restrain the investigation.
He later appeared at the FCID headquarters in Abuja after further pressure from investigators and was interrogated before being released on bail.
Following his release, Ogundele issued a response, denying any fraudulent activity. He explained that the delays in delivering the project were caused by external economic factors, specifically inflation, rising construction material costs, and the volatility of foreign exchange.
He stated that he had arrived at the FCID with a trove of evidence, including title documents of the Leonardo project, approvals from Lagos State, and other paperwork, which he claimed demonstrated transparency and a genuine commitment to fulfilling obligations to clients.
The Federal Government of Nigeria is in the process of obtaining new financing from the World Bank amounting to $1.75 billion, despite recent announcements of a significant increase in national revenues.
President Bola Tinubu stated on Tuesday that Nigeria has already exceeded its revenue targets for 2025.
In a follow-up clarification, the Presidency revealed that Nigeria collected N20.59 trillion between January and August 2025, reflecting a 40.5% increase compared to the N14.6 trillion accrued in the same period the previous year.
According to Bayo Onanuga, the Special Adviser to the President on Information and Strategy, this revenue surge has been largely driven by non-oil sources, which now represent 75% of the government’s total revenue.
Nevertheless, officials indicated that borrowing would persist to address funding gaps in essential sectors.
Documentation from the World Bank suggests that approval for the $1.75 billion in new loans for Nigeria is anticipated before the end of the year. These funds will be allocated to projects in agriculture, health, digital infrastructure, and financing for small businesses.
Key initiatives earmarked for support include a $500 million project aimed at enhancing agricultural value chains to improve farm productivity and promote rural development.
Additionally, there is a $500 million digital infrastructure program intended to expand connectivity and foster technology-led growth, a $250 million health security project, and a $500 million initiative focused on providing inclusive financing for micro, small, and medium enterprises.
The loans are currently undergoing various stages of review and negotiation, indicating that Nigeria continues to rely on external borrowing to meet its financial needs. According to World Bank data, the country has secured a total of $8.4 billion in new credit lines over the past two years.
President Bola Tinubu has asserted that the policies and initiatives of his administration are fundamentally anchored in the solemn oath of office he took, which obligates him to serve the interests of all Nigerians.
In a statement shared on his X handle on Monday, he emphasized that this oath serves as a guiding principle for the various infrastructural projects his government is undertaking, including the construction of bridges, roads, railways, and advancements in the power and healthcare sectors.
His remarks came in response to mounting criticisms regarding perceived imbalances in the distribution of projects and allegations of regional neglect.
Tinubu contended that his administration is committed to implementing policies and delivering projects that are intended to benefit all citizens, irrespective of their region, religion, or ethnic background.
“I took an oath to serve all Nigerians, not a section. That oath guides every bridge, road, rail, power, and health project we deliver,” the post reads.
“From the Lagos–Calabar Highway in the South to the Sokoto–Badagry Superhighway in the North; from Port Harcourt–Maiduguri rail in the East to Abuja–Kaduna–Kano expressway in the Centre, and the Trans-Saharan highway connecting African countries, these are not local trophies. They are our national assets.”
Tinubu said health centres are being rehabilitated nationwide, and light rail projects in Kano, Kaduna, Lagos, and Ogun have been given the green light.
“250,000 jobs are being created, power is returning to Kaduna through the revived 255MW power plant, bridges in Onitsha and Bonny reconnect our people, oil exploration is expanding in Bauchi and Gombe, and the AKK pipeline has crossed the Niger,” he said.
“Every farmer who needs a road, every trader who needs power, every child who needs a school, every patient who needs care… this is who we are building for.”
The president noted that the “equity of renewed hope” ensures no Nigerian is second class and no region is left behind.
“Together we will rise as one nation, one people, and one destiny. Bet on Nigeria,” he added.
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