President Donald Trump has elevated self-dealing to an unprecedented level during his presidency, according to a new deep dive by David Kirkpatrick in The New Yorker published on Monday. And experts are alarmed by his apparent lack of concern for how this appears to the public.
Krikpatrick estimated Trump has raked in $3.4 billion in presidential profits, a "dizzying sum."
When Trump was first elected in 2016, there were extensive conflicts, ranging from the Secret Service paying for services at his properties to the Trump Hotel in D.C. being patronized by foreign dignitaries looking to curry favor. But back then, even as the president refused to release his tax returns, at least Trump wanted to create the impression he was working through the ethical issues.
Per Trump's tax lawyer at the time, Sherri Dillon: "Since Trump’s star turn on the NBC reality show 'The Apprentice,' the Trump Organization had mainly sold the use of his name," noted the report. "Most of its profits came from developers who flew the Trump flag over buildings that he didn’t build or own, or from businesses that used his name to sell shirts, mattresses, or pizza. If Trump tried to off-load his whole company, Dillon explained, a buyer might overpay in order 'to curry favor with the President,' or, just as worrisome, might demean the highest office in the land by crassly cashing in on the President’s name. Trump and his family, Dillon declared, would never do anything that might 'be perceived to be exploitive of the office of the Presidency.'"
Dillon is long gone from representing the Trump family, Kirkpatrick wrote — and now even the pretense of guardrails is off.
"Many payments now flowing to Trump, his wife, and his children and their spouses would be unimaginable without his Presidencies: a two-billion-dollar investment from a fund controlled by the Saudi crown prince; a luxury jet from the Emir of Qatar; profits from at least five different ventures peddling crypto; fees from an exclusive club stocked with Cabinet officials and named Executive Branch," he wrote. Meanwhile, Donald Trump Jr. said in a recent meeting that when it comes to foreign deals, the Trumps will no longer lock themselves in “a proverbial padded room, because it almost doesn’t matter — they’re going to hit you no matter what.”
Ethics reform attorney Fred Wertheimer had a blunt assessment: “When it comes to using his public office to amass personal profits, Trump is a unicorn — no one else even comes close.” He added that "we will never really know" just how much Trump profiteered from the presidency, although it is almost certainly in the billions. “He doesn’t talk about it anymore. He may be the greatest con artist in American history.”