This story appeared in The Logoff, a each day publication that helps you keep knowledgeable in regards to the Trump administration with out letting political information take over your life. Subscribe here.
Welcome to The Logoff: Donald Trump is making huge bucks off of the presidency.
What’s taking place? The president’s profiteering isn’t new, however monetary disclosures launched final evening shed new mild on precisely how much money Trump is making in workplace. The whole for 2025: $2.2 billion, virtually 4 occasions as much because the $622 million in income he reported in 2024.
That whole contains greater than $1.4 billion from two Trump household cryptocurrency initiatives — considered one of which is World Liberty Financial, which is 49 p.c owned by the royal household of the United Arab Emirates. (That stake was bought secretly simply days earlier than Trump’s 2025 inauguration, as the Wall Street Journal has reported, and shortly afterward, the Trump administration granted the UAE entry to superior AI chips.)
What’s the context? As astonishing as that quantity is, it doesn’t fairly seize the total scope of Trump’s graft. Since final yr, the New Yorker’s David D. Kirkpatrick has been keeping close track of all the president’s self-enrichment schemes — plus these by his fast household, from his sons Don Jr. and Eric Trump to his son-in-law (and Center East peace negotiator) Jared Kushner.
What else ought to I know? As well as to enriching himself and his household straight, Trump has spent much of his second time period as president utilizing the federal government, and US tax {dollars}, as a piggy financial institution for his private initiatives. That features more than a million dollars in nationwide parks charges put towards purely aesthetic renovations on the White Home — which he mentioned he would pay for himself.
And with that, it’s time to log off…
It is, by some means, already July, so at this time I wished to share a gift link to my colleague Allie Volpe’s recommendation on how to take into consideration your summer time in case you’re already pre-grieving its finish. (It additionally provides me an opportunity to share this Calvin & Hobbes strip about the identical topic, which captures my actual emotions.)
Plus, a World Cup factor: It’s match day for the USA! In the event that they win tonight, all three host groups will undergo to the spherical of 16. Right here’s what the celebration seemed like in Mexico City last night after they defeated Ecuador to qualify.
Have an incredible night, and we’ll see you again right here tomorrow!
