His family business’s adventures in the Middle East are the subject of much recent alarm. His sons, Eric and Donald Jr., are very actively engaged in the region. This wave of movement has been matched step-for-step by the Trump Organization’s deepening financial connections abroad, which bring with them the prospect of enormous profits. As for Trump’s assets, they are now managed by his children through a trust. His newly announced ventures raise fresh alarm bells about possible conflicts of interest, even as questions loom large about the former president’s financial misdealings.
In this effort Eric and Donald Trump Jr. have been on the frontlines, establishing these connections. These connections may prove significantly advantageous to the family business. Their travels have coincided with major deals, including a partnership with Qatari Diar to build a luxury golf resort in Qatar. This project represents a huge personal return to the region for Trump. His first business initiative here began way back in 2005, around the same time that he was catapulting into stardom with his reality television program, “The Apprentice.”
Meanwhile, the Trump family has finalized agreements to license its brand to two other real estate developments. All of these projects are situated around Riyadh, the stunningly rapid capital of Saudi Arabia. These recent advancements have come in collaboration with Dar Global, a London-based luxury real estate developer. The return on investment for these projects can be enormous. Saudi Arabia’s Public Investment Fund (PIF) is making headlines with their aggressive investment campaign into the global sports and entertainment markets.
“The president is following all conflict of interest laws,” said Karoline Leavitt, a spokesperson for Trump. Critics say the far-reaching ties of secrecy between Trump’s businesses and Gulf investors present unprecedented ethical conflicts.
“Given the extensive ties between LIV Golf and the PIF, or between Trump enterprises more generally and the Gulf, I’d say there’s a pretty glaring conflict of interest here.” – Jon Hoffman
In addition, Trump’s family business interests are tied up in a major deal with DAMAC Properties, an Emirati firm run by Hussain Sajwani. Earlier this year, Sajwani made headlines with his announcement of a $20 billion investment in U.S. data centers. This move has solidified what has already been a close partnership with the two parties. This close relationship has led some critics to raise serious warnings about having such a close relationship with these regulators.
Fair warning, that’s a slippery slope Timothy P. Carney highlighted in his own right. He pointed out that “even when he’s not running the company, he makes money when the company performs.” This claim highlights the fine line that Trump has to walk between his political aspirations and the needs of his family business.
Currently, the Trump Organization is under a voluntary ethics agreement that should prevent it from directly entering into contracts with foreign governments. According to the analysts, the agreement gives cover to get around these connection limits through backdoor partnerships and investments.
As a testament to their visibly ballooning empire, Eric Trump just last week opened the door for an even bigger $1 billion—80-story!—Trump Tower in Dubai. For this project, artists siblings Moza & Rashid Al Mazrouei illustrate how their family intends to benefit from the UAE’s surging construction industry. The UAE followed up by announcing a plan to invest $1.4 trillion in U.S. companies over the next 10 years.
The fallout from these corporate transactions goes far beyond dollars and cents. Trump’s ties to LIV Golf—a tournament he hosted at his Doral resort in Florida—have raised eyebrows due to its backing from the Saudi government. This connection further complicates the current discussions around ethical limits and conflicts of interest.
“Suggest that President Trump is doing anything for his own benefit,” remarked Karoline Leavitt, addressing allegations of impropriety.
Whether these different efforts succeed or not, the possibility for profit is clear. The Trump family would be able to directly benefit from pocketing a slice of every dollar we pour into their booming portfolio. During the campaign, analysts pointed out that these connections have a huge potential to benefit only Trump’s business interests. Together, they further cement his control and power over the region.
