The Grift Files · Chapter 2: Foreign money · Updated Nov. 8, 2026
Foreign money and the Trump family: the Qatari jet, the Gulf deals and the emoluments clause
A $400 million jet from Qatar, golf resorts and towers licensed in the Gulf and Asia while the President sets policy toward those governments, a son-in-law's fund built on sovereign money, and the Constitution's clause about gifts from foreign states.
- 33
- dated entries
- 13
- milestones
- 23
- records to read yourself
Chapter 2 of 5
The timeline
33 dated entries, oldest first. Each says what happened, who gained, how much, and the response on the record, with its source.
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Trump Organization ethics plan drops the first-term ban on new foreign deals
The Trump Organization released a voluntary five-page ethics white paper that bars deals made directly with foreign governments but allows new deals with private companies abroad. In 2017 the company had promised no new foreign deals of any kind. The plan says Trump will not take part in day-to-day decisions, names William A. Burck of Quinn Emanuel as outside ethics adviser, and promises to give the U.S. Treasury any profits from foreign-government spending at its properties.
The response: Eric Trump said the company is "dedicated to not just meeting but vastly exceeding its legal and ethical obligations" during his father's presidency (AP, Jan. 10, 2025).
Source: Associated Press (via News4Jax)
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Indonesia halts a Trump-branded resort over environmental problems; golf club opens anyway
Indonesia's Environment Ministry ordered PT MNC Land, the Trump Organization's partner at the Lido resort south of Jakarta, to halt development over water management and environmental issues. About a month later, on March 7, 2025, MNC Land launched Trump International Golf Club Lido, a 7,200-yard course operated by Trump Golf. MNC Group's chairman Hary Tanoesoedibjo said the collaboration with Trump Golf set "a new standard for luxury and exclusivity in Indonesia."
The response: MNC Land's president director denied the project caused sedimentation in Lido Lake, pointing to other projects in the area (Jakarta Post).
Source: The Jakarta Post
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Trump announces a $5 million 'gold card' residency visa for wealthy foreigners
In the Oval Office, Trump said wealthy foreigners would be able to buy permanent residency for $5 million, calling it "a route to citizenship." Commerce Secretary Howard Lutnick named it the "Trump Gold Card" and said it would effectively replace the EB-5 investor visa. The card carries the sitting President's name and is marketed by his administration.
The response: Trump said the proceeds could help pay down the deficit; Lutnick said EB-5 was "full of nonsense, make-believe and fraud" and gold card applicants would be vetted (NPR).
Source: NPR (via GPB)
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CREW counts 23 Trump-branded foreign projects planned during the presidency
Citizens for Responsibility and Ethics in Washington published a tracker listing 23 Trump-branded real estate projects in 10 countries (Oman, Indonesia, Saudi Arabia, India, UAE, Vietnam, Qatar, Romania, Maldives, Georgia), more than tripling the number of Trump properties abroad. Most are licensing deals in which the Trump name is rented for a fee. CREW noted the Oman project sits on government-owned land with a government tourism agency as partner.
Source: CREW
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Trump golf club in Qatar signed with Qatari Diar, a company set up by Qatar's sovereign wealth fund
Two weeks before Trump's state visit to Doha, Qatari Diar signed an agreement with Saudi developer Dar Global to build Trump International Golf Club, Doha and Trump-branded villas on 790,000 square meters of the Simaisma coastal project. Qatari Diar was established by Qatar's sovereign wealth fund and is chaired by the country's Minister of Municipality, Abdullah bin Hamad Al Attiyah. The Trump Organization's own ethics plan bars deals directly with foreign governments; here the contract runs through Dar Global, and Trump later reported a $5.25 million licensing fee from the project.
The response: Eric Trump: "We are incredibly proud to expand the Trump brand into Qatar through this exceptional collaboration with Dar Global" (Trump Organization release). The Trump Organization told CNBC it "operates completely separate from the presidency" and uses an outside ethics adviser.
Source: Trump Organization, Qatar News Agency, CNBC
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Trump defends taking a $400 million Boeing 747-8 from Qatar: only 'stupid' people refuse gifts
Leaving for the Middle East, Trump called Qatar's offer of a luxury Boeing 747-8, valued at about $400 million, "a great gesture" and said only a "stupid" person would turn it down. He said the plane would go to the Defense Department, not to him, and that after military use it would be turned over to his presidential library. Democrats and watchdogs said the gift would violate the Constitution's ban on presents from foreign states; Qatari officials said the arrangement was not finalized.
The response: Trump: "I think it's a great gesture from Qatar. I appreciate it very much." He told an ABC reporter, "You should be embarrassed asking that question," and said the plane goes to the Defense Department, not to him (New York Times via Boston Globe).
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Gulf trip ends with trillions in pledges from countries where the Trump family does business
Trump's first major foreign trip went to Saudi Arabia, Qatar and the UAE from May 13 to 16, 2025. Governments announced $600 billion (Saudi Arabia) and $1.2 trillion (Qatar) in investment pledges plus arms, AI-chip and data-center deals; observers said the real figures may be far lower. In the weeks before the trip the Trump Organization had announced a Qatar golf club and a Dubai tower, and the family's World Liberty Financial had taken a $2 billion stablecoin deal from an Abu Dhabi state fund.
The response: A White House spokesperson told CNBC in 2026 that "the only special interest guiding" Trump's decisions is "the best interest of the American people," pointing to more than $2 trillion in commitments from the trip.
Source: Khaleej Times, CNBC
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Eric Trump and Vietnam's prime minister break ground on a $1.5 billion Trump golf resort during tariff talks
Prime Minister Pham Minh Chinh joined Eric Trump in Hung Yen province to break ground on a $1.5 billion golf and residential project with local partner Kinhbac City, approved by Vietnamese authorities the week before. At the time Vietnam faced a threatened 46% U.S. tariff and its negotiators were in Washington offering concessions. Chinh said Eric Trump's visit "motivated us to expedite this project"; Trump later reported a $5 million licensing fee from it.
The response: Eric Trump said the project would be "the envy of all of Asia and of the entire world." CNBC later reported it found no evidence the project influenced the tariff talks; the Vietnamese government did not answer questions.
Source: NBC News, Reuters (via Hotel-Online), Trump Organization
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Pentagon accepts the Qatari jet; experts warn of a $1 billion-plus retrofit bill for taxpayers
The Pentagon accepted the Qatari 747-8 on May 21, 2025 and said it would retrofit it as Air Force One. Current and former Pentagon officials told the New York Times the security work would cost at least $1 billion, and Sen. Tammy Duckworth said taxpayers would "waste over a billion dollars" when two working Air Force One jets already exist. A Washington Post-reported Air Force inspection found the plane poorly maintained and possibly needing $1.5 billion of work.
The response: A White House spokesperson: "It has been stated time and time and time and time again this was donated" to the Air Force (Fortune).
Source: Fortune, Air & Space Forces Magazine
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Air Force secretary tells Congress the jet retrofit will 'probably' cost under $400 million
Air Force Secretary Troy Meink testified to the House Armed Services Committee that "the actual retrofit of that aircraft is actually probably less than $400 million," while declining to give details because the systems are classified. Democrats put the figure near $1 billion; Meink said much of that was spending the Air Force would do anyway. On June 27 Defense One reported the Air Force was paying for the work with money taken from the over-budget Sentinel nuclear missile program.
The response: Meink said the Air Force had been asked to modify the aircraft as soon as it took possession and that Sentinel "resources are there" (Defense One).
Source: Air & Space Forces Magazine, Defense One
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Hegseth signs memo calling the jet an 'unconditional donation' to the Pentagon
Defense Secretary Pete Hegseth and Qatar's defense minister signed a memorandum of understanding on July 7, 2025 describing the plane as a "bona fide gift" and "unconditional donation" to the Defense Department, with the U.S. paying Qatar nothing. The memo states the gift is "not connected or otherwise related to any governmental decision." Air Force officials had initially expected a sale, not a donation; Hegseth confirmed at a June Senate hearing that ownership will pass to Trump's presidential library foundation after he leaves office.
The response: The MOU itself: "Nothing in this MoU is, or shall be interpreted or construed as, an offer, promise, or acceptance of any form of bribery, undue influence, or corrupt practice" (CNN).
Source: CNN
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Justice Department refuses to release Bondi memo blessing the jet; press group sues
The Freedom of the Press Foundation sued the Justice Department after it refused to release a May 2025 memo, reportedly signed by Attorney General Pam Bondi, concluding the jet gift was "legally permissible." DOJ said the document would not be available until January 25, 2027 because of a 620-day average processing time. Bondi had previously lobbied for the Qatari government. On August 8, Democracy Defenders Fund asked the Pentagon inspector general and GAO to examine the acceptance and the reported shift of $934 million from a missile program to pay for the retrofit.
The response: A Justice Department spokesperson blamed the delay on a "historic increase" in FOIA requests and said the agency is working "as quickly and efficiently as possible" (Courthouse News). The Pentagon inspector general declined to comment (CBS).
Source: Courthouse News Service, Freedom of the Press Foundation, CBS News
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Second Jeddah project: a $1 billion Trump Plaza with Saudi developer Dar Global
Dar Global, the London-listed arm of Saudi developer Dar Al Arkan, announced a roughly $1 billion mixed-use Trump Plaza in Jeddah, following the Trump Tower Jeddah announced in 2024. Dar Global is also building a Trump hotel and villas in Oman and towers in Dubai. The company formally launched Trump Plaza Jeddah on January 12, 2026, calling it its third Saudi collaboration with the Trump Organization.
The response: Eric Trump said the project "embodies our vision of excellence by blending world-class hospitality, modern living" (The New Arab).
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Trump Organization and Dar Global announce a 'tokenized' Trump hotel in the Maldives
Dar Global and the Trump Organization announced Trump International Hotel Maldives, about 80 beach and overwater villas due to open by the end of 2028. The partners billed it as the world's first tokenized hotel development, letting investors buy digital tokens in the project while it is being built. No project value was disclosed.
The response: Eric Trump said the company was pleased to bring the Trump brand to the Maldives and that the project aims to set a new standard through tokenization (Dar Global release).
Source: PR Newswire (Dar Global release)
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'Trump Gold Card' visa goes on sale at Trumpcard.gov for $1 million plus a $15,000 fee
The administration launched the Trump Gold Card at Trumpcard.gov. Applicants pay a nonrefundable $15,000 processing fee to the Department of Homeland Security, and after vetting a $1 million "gift" to the U.S. government; companies can pay $2 million per employee. The site also takes a waiting list for a $5 million "Trump Platinum Card." Commerce Secretary Howard Lutnick said about 10,000 people had pre-registered.
The response: Trump: "Basically it's a Green Card, but much better." Lutnick predicted thousands of cards and billions of dollars for the Treasury (Reuters).
Source: Reuters (via Yahoo News), Trumpcard.gov (U.S. government)
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Trump golf resort and hotel in Riyadh's Wadi Safar, inside a Saudi crown-prince-backed development
Dar Al Arkan, Dar Global and the Trump Organization unveiled Trump International, Wadi Safar, a 2.6 million square meter gated community with a Trump golf course, Trump hotel and residences inside the Diriyah masterplan near Riyadh. Diriyah is developed by Diriyah Company, a Saudi state project. The next day Dar Global formally launched the $1 billion Trump Plaza Jeddah, its third Saudi deal with the Trump family company.
The response: Eric Trump: "We are proud to expand our presence with this landmark development in Wadi Safar" (Trump Organization release).
Source: Trump Organization, PR Newswire (Dar Global release)
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House Oversight Democrats: foreign money now flows to Trump through crypto, not hotel rooms
On the first anniversary of the inauguration, Democratic staff of the House Oversight Committee released a 30-page interim report, "Professionalized Corruption," arguing that in the first term foreign governments paid Trump through hotel stays and condos, and in the second term the family's digital-currency ventures let foreign interests pay in the billions with no practical limit. It builds on the committee's 2024 finding of at least $7.8 million in foreign-government payments to Trump businesses during the first term.
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CREW projects Trump's second-term foreign property income will top $400 million
Analyzing Trump's financial disclosures from 2015 to 2025, CREW found his 2024 foreign income was at least $101 million, more than double 2023, with over $26 million in licensing fees from Dar Global's Dubai and Muscat projects and a new $10 million fee from an unannounced Mumbai project. CREW counted 10 open overseas developments and at least 22 more in development, and estimated second-term foreign property income of more than $400 million if 2024 levels hold.
Source: CREW
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Australia's tallest tower will carry the Trump name; deal signed at Mar-a-Lago
Altus Property Group said it signed a final agreement on February 14, 2026 at Mar-a-Lago for a 91-story Trump International Hotel & Tower on Queensland's Gold Coast, a 1.5 billion Australian dollar (about US$1.06 billion) project with a hotel, 270 apartments and a beach club. It is the Trump Organization's first Australian project and was signed at the President's private club.
Source: NBC News
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Garcia and Wyden: Kushner is raising $5 billion more from Gulf governments while negotiating for the U.S.
Rep. Robert Garcia and Sen. Ron Wyden wrote to Affinity Partners that Jared Kushner was seeking at least $5 billion in new foreign capital while leading U.S. negotiations in the Middle East. Citing SEC filings, they said Affinity's foreign-sourced assets rose from about $3 billion (including $2 billion from Saudi Arabia's Public Investment Fund) at the start of 2024 to $4.8 billion by the end of 2024, and that the firm has taken about $157 million in fees from foreign clients, including $87 million directly from the Saudi government.
The response: The letter notes Republican Sen. Thom Tillis's concern that Kushner and Witkoff are "not subject to Senate confirmation, and they're not subject to oversight." Kushner's attorney has said his business and diplomacy are unconnected (CNN, Oct. 2026).
Source: House Oversight Committee Democrats / Senate Finance Committee
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Raskin: Kushner's Affinity holds $6.16 billion, 99% from foreign investors, as he serves as 'Special Envoy for Peace'
House Judiciary ranking member Jamie Raskin wrote to Kushner that recent filings show Affinity raised an additional $1.2 billion in the past year, bringing assets to roughly $6.16 billion, of which about $6.10 billion (99%) is attributable to foreign nationals. Raskin said Kushner had promised in December 2024 to avoid conflicts and not raise capital during his father-in-law's term, then broke both promises. He asked whom Kushner represents when negotiating with Saudi Arabia and Iran.
The response: White House principal deputy press secretary Anna Kelly: "Jared Kushner's personal business activities have nothing to do with his diplomatic engagements, which he conducts on a volunteer basis at the President's request" (CNN, Oct. 1, 2026).
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Trump Tower Tbilisi: Georgia's sanctioned-oligarch land and a government seeking Trump's favor
The Trump Organization announced a 70-story Trump Tower in Tbilisi with four Georgian firms and the New York-based Sapir Organization. One partner's founder is a former MP of the ruling Georgian Dream party, and the land was bought for up to $85 million from a foundation controlled by the family of Bidzina Ivanishvili, whom the U.S. Treasury sanctioned in 2024 for undermining Georgia's democracy for Russia's benefit. Georgian Dream leaders have promoted the project as a vote of confidence while facing possible U.S. and EU sanctions.
The response: Eric Trump told The Real Deal the tower "has nothing to do with the influence of a government or the influence of my father." Archi Group's Ilia Tsulaia: "We have never talked about politics."
Source: Eurasianet, The Real Deal
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Gold card reality check: 338 applications and one approval, against promises of trillions
A court filing by Trump officials showed 338 people had applied for the $1 million Trump Gold Card and 59 had advanced to Homeland Security vetting. Lutnick said the prior week that only one person had been approved, with "hundreds in the queue." Before the price was cut from $5 million, Lutnick had projected 200,000 cards could raise $1 trillion for the Treasury.
The response: Trump: "I happen to think it's going to sell like crazy. It's a bargain" (The Telegraph).
Source: The Telegraph (via Yahoo News)
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Democrats introduce bill to write the emoluments bans into law, citing the Qatari jet
Reps. Jamie Raskin, Robert Garcia and Joseph Morelle introduced the Protecting Our Democracy Act, with Sen. Adam Schiff sponsoring a Senate companion. The bill would codify the Constitution's foreign and domestic emoluments bans and bar a president from taking payments from pardon recipients or appointees through a presidentially owned business. The sponsors cited Trump's acceptance of the $400 million Qatari jet, reportedly to be transferred to him after his presidency.
The response: Garcia: "no president can run a pay-to-play scheme from the Oval Office." No White House response is recorded in the release.
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Trump unveils the Qatari 747 as the new Air Force One: 'the world's most luxurious plane'
At Joint Base Andrews, Trump showed off the retrofitted Qatari Boeing 747-8 in a new red, white and navy paint scheme. The Air Force said the retrofit would cost "probably less than $400 million"; taxpayers also paid for a 747-8 lease, a used Lufthansa 747-8 for training and a full interior mock-up, with no figures released. The plane was to lead a July 4 flyover for the nation's 250th birthday.
The response: Trump: "This is considered the world's most luxurious plane." In 2025 he posted, "Only a FOOL would not accept this gift on behalf of our Country" (CBS News).
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Trump's first flight on the Qatari jet; he says it will go to his presidential library
Trump flew the retrofitted Qatari 747 from Joint Base Andrews to North Dakota, calling it "maybe the greatest commercial plane ever built." The Air Force said it spent less than $400 million on security upgrades and made little change to the plush cabin; the plane is a bridge until Boeing delivers new Air Force One jets around 2028. Trump repeated that the aircraft will eventually go to his presidential library, and declined to say what taxpayers paid.
The response: Trump: "This is a gift from a country that has treated us very well." "You can do two things: You can low-key it, or you can show it" (CNBC/NPR). The Air Force said the plane is "safe, secure and equipped with the most advanced technologies" (NPR).
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Trump's 2026 disclosure: nearly $60 million from foreign licensing, $77.5 million from Mar-a-Lago
Trump's annual financial disclosure, released by the Office of Government Ethics, reported nearly $60 million in income from foreign real estate firms licensing the Trump name, $77.5 million from Mar-a-Lago (up more than 50% in a year) and $122 million from Doral. CNN reported Trump has used the Florida clubs to fete foreign dignitaries and host fundraisers since retaking office, and that Mar-a-Lago's initiation fee was raised to $1 million in 2024.
The response: White House spokeswoman Anna Kelly: "neither the President nor his family has ever engaged - or will ever engage - in conflicts of interest." Trump: "You know why I'm profiting? Because the stock market's going up. Everybody's profiting... I never speak to any of the people that run the money" (CNN).
Source: CNN
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CNBC: foreign licensing income hit $59.5 million in 2025, two-thirds from the Gulf
CNBC's analysis of Trump's disclosure found foreign real estate licensing income of $59.5 million for 2025, up 71% from 2024 and nearly ten times 2023. Saudi-linked Dar Al Arkan and its Dar Global arm paid $25.8 million and Dubai's Damac $11.3 million, including $5 million fees for Abu Dhabi projects with no active development. Payments traced to state-linked partners include $5.25 million from the Qatari Diar golf project and nearly $1 million from Oman's Aida project with Omran, the Omani government's tourism arm.
The response: The Trump Organization said it operates "completely separate from the presidency" and uses an outside ethics adviser. Trump told the New York Times in January 2026: "I found out that nobody cared. I'm allowed to." CNBC said it found no evidence any payment influenced an administration decision.
Source: CNBC
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At least 19 Trump projects abroad, 12 announced since the 2024 election
MS NOW counted at least 19 Trump-branded golf courses, hotels, towers and resorts under development or pending abroad, at least 12 announced since the election, in Oman, Saudi Arabia, the UAE, Qatar, the Maldives, India, Romania, Georgia, Vietnam and South Korea. It reported Trump has received almost $10 million in fees from Oman's roughly $500 million Aida project since 2022 and that licensing deals with Dar Al Arkan and Dar Global alone total at least $61 million since 2021.
The response: A White House official referred questions to the Trump Organization: "This has nothing to do with the White House." The Trump Organization said it "operates completely separate from the presidency" (MS NOW).
Source: MS NOW, The National
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CNN: Kushner's firm is top shareholder in an Israeli company funding arms makers while he brokers Gaza talks
CNN found that Affinity Partners, owned solely by Jared Kushner, is the largest shareholder of Phoenix Financial, an Israeli firm with more than $456 million invested in nine companies supplying Israel's military, including $265.1 million in arms maker Elbit Systems. Affinity doubled its Phoenix stake five days before Trump's inauguration; in July 2026 it sold a quarter of the stake for more than $340 million, five times its cost, and still holds a 7.4% stake worth over $1 billion. Kushner acts as an unpaid envoy and so files no financial disclosure.
The response: Kushner's attorney said he "never participated in or directed Phoenix's decisions" and that any suggestion his diplomacy influenced Phoenix's investments "or vice versa, is incorrect." White House's Anna Kelly called the concerns a "tired narrative" (CNN).
Source: CNN
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House Oversight Democrats demand Kushner's Middle East investment records by October 19
Ranking member Robert Garcia wrote to Kushner at Affinity Partners seeking a full list of the firm's Middle East investments since January 20, 2025, including any that depended on U.S. government approvals or diplomatic support. The letter says Kushner has raised billions from Saudi, Emirati and Qatari governments while acting as Trump's Gaza negotiator, and notes he is exempt from financial disclosure. CNN reported the letter signals wider investigations if Democrats retake the House.
The response: An attorney for Kushner dismissed Garcia's criticisms and pointed to the congressman's own holdings in investments scrutinized in CNN's report (CNN, Oct. 6, 2026).
Source: House Oversight Committee Democrats, CNN
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First emoluments lawsuit of the second term: $2.5 billion in UAE crypto money
A Circle Internet Group shareholder sued Trump, World Liberty Financial, envoy Steve Witkoff and four Trump LLCs in federal court in Washington (Case 1:26-cv-03686). The complaint says a UAE-linked entity bought 49% of World Liberty for $500 million days before the inauguration and an Abu Dhabi state fund bought $2 billion of the Trump stablecoin, both "illegal foreign emoluments" that flowed millions to Trump. It asks the court to declare the profits unconstitutional and order them returned.
The response: World Liberty counsel Bill Burck called the suit "more like a partisan press release than a lawsuit"; White House spokesperson Anna Kelly called it "yet another frivolous lawsuit" and said there are no conflicts of interest (CNBC).
Source: CNBC, U.S. District Court for D.C. (complaint, via CNBC)
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Tbilisi tower partners finish paying the sanctioned Ivanishvili family; Eric Trump says no politics involved
The Real Deal reported the Tbilisi project's Georgian developers completed payments of up to $85 million for land bought from a foundation controlled by the family of U.S.-sanctioned former prime minister Bidzina Ivanishvili by July 2026, and that developer Ilia Tsulaia had lobbied in Washington for better Georgian-U.S. ties. The tower would anchor a $2 billion mega-development. It is the latest of about two dozen foreign Trump-branded projects launched since the election.
The response: Eric Trump: Trump Tower Tbilisi "has nothing to do with the influence of a government or the influence of my father."
Source: The Real Deal
Exhibit C
The receipts
23 records you can open and read yourself: financial disclosures, securities filings, court dockets, budget-office estimates, Treasury figures and congressional reports. Every link goes to the official copy or the original report.
Foreign money: the deals and the clause23 records
The Justice Department's memo on the jet, the Trump Organization's own announcements, the Senate reports and the Constitution.
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The lawSept. 17, 1787
U.S. Constitution, Article I, Section 9, Clause 8 (Foreign Emoluments Clause)
The text: no person holding an office of profit or trust "shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State." This is the rule every entry on this page is measured against.
National Archives
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Court recordOct. 22, 2026
Greenberg v. Trump et al., Verified Complaint (Case 1:26-cv-03686, D.D.C.)
70-page complaint alleging two unconstitutional foreign emoluments: a $500 million UAE-routed purchase of 49% of World Liberty Financial and a $2 billion stablecoin purchase by a UAE government fund. Asks for a declaration, an accounting and disgorgement.
U.S. District Court for the District of Columbia (posted by CNBC) · 70 pages
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LetterOct. 5, 2026
Letter from Ranking Member Garcia to Jared Kushner re: Affinity Partners' Israeli investment
Requests Affinity's Middle East investments since Jan. 20, 2025 by Oct. 19, 2026; recounts the $456 million Phoenix Financial exposure, the $340 million July 2026 sale, and Kushner's Gulf fundraising.
House Committee on Oversight and Government Reform, Democratic staff · 3 pages
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LetterApril 16, 2026
Letter from Ranking Member Raskin to Jared Kushner re: conflict of interest
States Affinity raised $1.2 billion in the past year to $6.16 billion in assets, 99% ($6.10 billion) from foreign nationals, and that Kushner reneged on a December 2024 pledge not to raise capital during the term.
House Judiciary Committee Democrats · 6 pages
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LetterMarch 19, 2026
Letter from Ranking Members Garcia and Wyden to Affinity Partners re: Kushner fundraising
Cites SEC Form ADV filings: foreign-sourced assets rose from about $3 billion to $4.8 billion during 2024; about $157 million in fees from foreign clients including $87 million from the Saudi government; reports Kushner seeking $5 billion more.
House Oversight Democrats / Senate Finance Committee Democrats · 5 pages
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ReportJan. 20, 2026
Professionalized Corruption: Interim Staff Analysis
Argues foreign payments to Trump moved from hotel rooms and condos in the first term to digital-currency ventures in the second; builds on the committee's 2024 finding of $7.8 million in first-term foreign-government payments.
House Committee on Oversight and Government Reform, Democratic staff · 30 pages
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ReportJan. 4, 2024
Trump's businesses got at least $7.8 million in foreign payments while he was president, House Democrats say
Summarizes the Mazars-records report: at least $7.8 million from 20 countries at four properties over two years, including $5.35 million in Trump Tower rent from a Chinese state bank, $615,000 from Saudi Arabia and $465,744 from Qatar. Notes Trump Org's voluntary Treasury donations ($191,538 in 2019; $105,465 in 2020; $10,577 in 2021).
CBS News (on House Oversight Democrats' 156-page report 'White House for Sale')
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ReportAug. 28, 2024
The intensifying threat of Donald Trump's emoluments
First-term tally: more than 150 foreign officials from 77 governments patronized Trump properties, 13 foreign-government events, nearly 70 trademarks from 11 foreign governments, and a 2023 disclosure of more than $5 million in Oman royalties; argues divestment or congressional consent is required.
CREW
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DatabaseMarch 27, 2025
Trump foreign development tracker
Project-by-project list of Trump-branded developments abroad announced for the second term (23 projects in 10 countries at first publication), with partners and government ties; CREW notes the tracker was superseded in September 2026.
CREW
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ReportFeb. 19, 2026
Trump foreign property income is set to explode in his second term
Disclosure-based accounting of foreign income 2015-2025: at least $101 million in 2024, $26 million+ in Dar Global fees, and a projection of $400 million+ over the second term. Explains why disclosure ranges make exact totals impossible.
CREW
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DataAug. 10, 2026
Trump's foreign licensing business booms to $59.5 million as Gulf developers pay
Line-by-line analysis of Trump's 2026 OGE disclosure: $59.5 million foreign licensing income in 2025, $25.8 million from Dar Al Arkan/Dar Global, $11.3 million from Damac, $5.25 million from the Qatari Diar project, nearly $1 million from Oman's Omran joint venture, $5 million from Vietnam.
CNBC
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DataJuly 1, 2026
Soaring revenue at Mar-a-Lago shows how Trump's business interests and politics intersect
Reports the OGE disclosure figures: $77.5 million from Mar-a-Lago, $122 million from Doral, nearly $60 million foreign licensing, $1.4 billion+ crypto; includes the White House denial of any conflicts.
CNN
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DocumentJuly 27, 2025
Qatari plane that could be new Air Force One will be 'unconditional' gift to the Pentagon, agreement says
Describes the July 7, 2025 MOU: 'bona fide gift' to DoD, 'unconditional', anti-bribery language, Air Force surprise that it was a donation rather than a sale, Sentinel funds transfer, and the Freedom of the Press Foundation FOIA suit over the Bondi memo.
CNN (reporting the Hegseth-Qatar memorandum of understanding)
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Court recordJuly 28, 2025
Lawsuit targets DOJ memo over Qatari plane deal
FOIA suit by the Freedom of the Press Foundation seeking the May 2025 Bondi memo calling the jet gift 'legally permissible'; DOJ said release would take until Jan. 25, 2027. The memo itself has not been made public.
Courthouse News Service
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LetterAug. 8, 2025
Watchdog group asks for probe of Defense Dept.'s acquisition of Qatari plane on Trump's behalf
Request that the Pentagon inspector general and GAO investigate the legality of accepting the jet and the reported $934 million shifted from a nuclear missile program to retrofit it.
CBS News (on Democracy Defenders Fund request to DoD IG and GAO)
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TranscriptJune 27, 2025
Air Force using Sentinel money to retrofit Qatar jet
Meink confirms the retrofit is funded from money removed from the Sentinel ICBM program, estimates about $400 million, and says the work will take just under a year.
Defense One (Senate Appropriations testimony of Air Force Secretary Troy Meink)
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ReportJuly 1, 2026
Retrofitted Qatari jet takes flight as Air Force One for Trump's trip to North Dakota
Records the first flight, the Air Force's 'less than $400 million' upgrade statement, the plan to hand the plane to Trump's library, and Trump's remarks.
CNBC
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Court recordOct. 13, 2020
Blumenthal v. Trump, No. 20-5, Supreme Court docket
Docket showing the Court denied certiorari on Oct. 13, 2020 in the suit by members of Congress over first-term emoluments, leaving in place the D.C. Circuit's ruling that the members lacked standing. The clause has never been enforced in court against a president.
Supreme Court of the United States
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Court recordJan. 25, 2021
Supreme Court Gutters Emoluments Cases Against Trump
Reports the Supreme Court's Jan. 25, 2021 orders dismissing CREW v. Trump and D.C. & Maryland v. Trump as moot once Trump left office, wiping out the appellate rulings that had let them proceed.
Courthouse News Service
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Court recordJan. 23, 2017
CREW v. Donald J. Trump (case page with filings)
Complaint and briefs from the first emoluments suit, filed three days after the 2017 inauguration, with the case history: dismissed for standing in 2017, revived by the Second Circuit in 2019, dismissed as moot by the Supreme Court in 2021.
CREW
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DocumentJan. 10, 2025
The Trump company is not banning private foreign deals, a break with its first term policy
Describes the January 2025 ethics plan: no deals directly with foreign governments, but private foreign deals allowed; outside adviser William Burck; pledge to donate foreign-government profits to Treasury.
Associated Press (on the Trump Organization's ethics white paper)
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DatabaseDec. 10, 2025
Trumpcard.gov
The official sales site for the $1 million 'Trump Gold Card' and a $5 million 'Trump Platinum Card' waiting list, with the $15,000 DHS fee and USCIS vetting steps; shows a sitting President's name on a federal visa product.
U.S. government (Trump Gold Card program)
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DocumentApril 30, 2025
Dar Global and The Trump Organization Expand Partnership with New Luxury Golf and Villa Project within Simaisma Masterplan
The company's own release on the Qatar golf club, quoting Qatar's Minister of Municipality as Qatari Diar chairman, which shows the government link the ethics plan says the company avoids.
The Trump Organization
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Named in this chapter
The people
- Steve WitkoffSpecial envoy; co-founder, World Liberty Financial
- Howard LutnickSecretary of Commerce; former chairman, Cantor Fitzgerald
- Jared KushnerThe President's son-in-law; founder, Affinity Partners; Gaza negotiator
- Eric TrumpThe President's son; executive vice president, Trump Organization; co-founder, American Bitcoin
- Pam BondiAttorney General; former Ballard Partners lobbyist
The whole Grift File: the ledger, all five chapters and the roster →