WASHINGTON — The president attempted to establish a settlement fund worth nearly $1.8 billion that could have benefited his supporters while resolving a lawsuit he brought against the federal government, claiming he “gave up a lot of money in allowing” the arrangement.
Following significant criticism from Congress and legal challenges, acting Attorney General Todd Blanche informed legislators Tuesday that the administration was abandoning the fund proposal. This development could revive the original lawsuit and maintain the possibility of future financial gain for the president.
The current administration has not hesitated to leverage the presidency for personal financial advantage, spanning merchandise sales to cryptocurrency investments to expensive political gatherings at properties owned by the president.
When questioned about potential self-dealing, the White House dismissed such concerns as “the same, tired narrative that Democrats have pushed against President Trump, his family, and his administration for a decade.”
“President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media,” spokesperson Anna Kelly said in a statement. “There are no conflicts of interest.”
Several notable examples illustrate how the president has generated financial benefits for himself, his family members and associates during his current term:
The previous year, the president filed a compensation claim demanding $230 million from the Justice Department following an FBI search of his Mar-a-Lago property in Florida during an investigation into potential classified document violations.
This January, the president, his two oldest sons and the family business, the Trump Organization, initiated a $10 billion legal action against the IRS and Treasury Department after a former IRS employee illegally disclosed the president’s tax information.
To settle these disputes, the administration proposed distributing $1.776 billion in public money to individuals claiming they faced politically motivated prosecution by previous administrations — including supporters who were jailed for assaulting law enforcement during the 2021 Capitol breach.
After receiving criticism from some Republican lawmakers, the Justice Department announced it would honor a court order temporarily halting the fund. Blanche provided clearer confirmation Tuesday, telling a House committee that, “We’re not moving forward with the fund.”
However, another aspect of the agreement allowing the government to cease ongoing IRS audits of the president and relatives received less attention. Blanche confirmed the Justice Department was maintaining that portion of the arrangement.
Additionally, the Air Force has committed to buying interceptor drones from Powerus, a Florida company with family connections. ProPublica also revealed that White House intervention preceded the Pentagon’s decision to provide $620 million in loans to Vulcan Elements, a North Carolina startup associated with Donald Trump Jr.
Trump Organization spokesperson Kimberly Benza rejected claims of ethical conflicts between the White House and family business operations.
“The Trump Organization operates completely separate from the presidency and is in full compliance with all ethics and conflict-of-interest laws,” Benza stated.
Regarding Powerus, Benza explained that Eric Trump was “a passive investor in a vehicle that, among many others, holds an interest” in the company, but wasn’t involved in its decision-making or management.
The president has engaged in stock and bond trading at levels unprecedented for a current U.S. president.
Office of Government Ethics records indicate the president completed over 3,600 stock transactions during the first quarter of 2026 alone — deals worth more than $100 million combined.
Numerous transactions included substantial purchases of technology and artificial intelligence company shares like Nvidia, Dell, Oracle and Palantir before administrative policy decisions that benefited these corporations.
Previous year’s filings reveal the president acquired over $300 million in bonds from various companies, states and local governments while repeatedly urging the Federal Reserve to reduce interest rates — a policy change that could increase his investment values.
The president’s family has generated substantial cryptocurrency profits since the reelection. A primary factor has been the $TRUMP meme coin, announced one day before taking office. Approximately 220 major investors received invitations to a private presidential reception.
The family also controls World Liberty Financial, a cryptocurrency company co-founded with the president’s special envoy Steve Witkoff and managed by his son Zach. The firm operates its own stablecoin, USD1, and received significant support when a United Arab Emirates-linked investment fund purchased a major stake before the inauguration.
MGX, an Abu Dhabi government-backed investment company, later committed to using $2 billion worth of USD1 to buy into Binance, the world’s largest cryptocurrency platform — a transaction that further strengthened World Liberty Financial.
Outside digital ventures, numerous companies pay licensing fees to use the president’s name on physical merchandise, including Bibles, guitars and sneakers as well as watches, fragrances and a gold-colored cellphone.
The president has advertised many such items on social media, especially during his 2024 campaign, and they have also appeared prominently at the White House.
During visits from French President Emmanuel Macron and Ukrainian President Volodymyr Zelenskyy last summer, the president showed them a merchandise room adjacent to the Oval Office filled with items sold on his website. Months later, video surfaced of the president at the White House spraying Syrian President Ahmad al-Sharaa with bottles of his “Victory 47” cologne and perfume, which he presented as gifts.
The president placed hats reading “Trump 2028” on the Resolute Desk during meetings with congressional Democrats last year. During a televised Cabinet session in May, red hats commemorating America’s 250th anniversary were positioned at every seat.
Each hat retails for $55 on the president’s website.
The Republican National Committee and various political organizations connected to the president and GOP have conducted fundraising events at Mar-a-Lago, plus the president’s Bedminster, New Jersey estate and golf facilities in Doral, Florida, and Sterling, Virginia.
The LIV Golf league, managed by the Saudi Public Investment Fund under Crown Prince Mohammed bin Salman’s leadership, has organized tournaments at Doral. The president will host the G20 summit there in November.
This arrangement means world leaders, staff members, business leaders, media representatives and numerous other participants will pay the Trump Organization, which bought Doral in 2012, for attendance. The president has attempted to address self-dealing criticism regarding the summit, stating that government participants will be charged “at-cost” and “We will not make any money on it.”
Qatar provided the president with a $400 million aircraft he plans to use as Air Force One, then house at his presidential library after leaving office. The aircraft has received extensive taxpayer-funded modifications and security enhancements that legislators estimate may cost over $1 billion.
The president has also commissioned numerous renovation projects designed to establish his legacy in Washington while transferring expenses to taxpayers.
He previously claimed wealthy donors would fund the $400 million ballroom he built after demolishing the White House’s East Wing — only to later request $1 billion in federal money for security improvements he says military and Secret Service officials requested for the project.
Public funding of at least $15 million is supporting a ceremonial arch construction. The National Park Service is also paying a contractor $13.1 million to complete the president-ordered renovation of the Lincoln Memorial Reflecting Pool.
