‘Trump Inc.’: Filings Show Staff Profited From Being in the President’s Orbit
Context:
New financial disclosure filings reveal a lucrative network of Trump allies who profited significantly from their association with the former president, both before and after joining his administration. Key figures such as Susie Wiles, Dan Scavino, and Stephen Miller amassed substantial income through consulting firms and nonprofit organizations aligned with Trump's interests. These individuals were often associated with think tanks and advocacy groups that emerged in the wake of Trump's exit from office, creating a parallel set of institutions supporting his political agenda. The disclosures also highlight the challenges Trump officials faced in securing jobs with established institutions post-January 6, 2021, leading to this network's development. While Trump and Vice President JD Vance's financial activities are detailed, including substantial earnings from ventures like cryptocurrency and venture capital, not all arrangements align with their political goals, as seen in Sean Hayes's affiliation with targeted entities like Harvard University.
Dive Deeper:
Susie Wiles, the White House chief of staff, reported earnings of nearly $4.4 million from her consulting firm Right Coast Strategies and $401,722 through MSGDMNSM Ventures XXV LLC. Her clients included the Trump campaign, Newsmax, and Ballard Partners, illustrating the financial benefits of her proximity to Trump.
Dan Scavino, a deputy chief of staff, earned over $1 million in capital gains from Trump Media & Technology Group and received significant compensation from Trump's campaign and other entities for social media content, showcasing the intertwining of media-related ventures with Trump's brand.
Stephen Miller's creation of America First Legal, a nonprofit targeting various social issues, paid him nearly $509,000, while his consulting firm Rushmore Ventures, associated with Trump's campaign, paid him $202,000, reflecting the financial opportunities within Trump's supportive infrastructure.
The emergence of institutions like America First Policy Institute, serving as a shadow administration for potential Trump policies, involved key figures like Linda McMahon and Brooke Rollins, who transitioned into cabinet roles, signifying the establishment of a parallel political ecosystem.
Financial disclosures for Trump and Vice President JD Vance highlight significant profits from cryptocurrency and venture capital investments, with Trump's stake in World Liberty Financial earning about $57 million and Vance's Narya Capital yielding substantial interest income, illustrating their continued financial ventures beyond politics.
Post-January 6, 2021, Trump officials faced difficulties securing positions with established institutions, leading to the formation of a network of organizations and think tanks to support Trump's political agenda, as noted by Jonathan Guyer, an analyst at the Institute for Global Affairs.
Sean Hayes, a deputy White House counsel, earned over $1 million from WilmerHale, representing clients like Harvard University, which have been targeted by the Trump administration, indicating that some financial arrangements may not align with Trump's political objectives.