Profiting Off of Presidency
Trump has made millions of dollars profiting off of his supporters and will continue to do so throughout his time in office. Starting February of last year he has made several business ventures, from selling his own merchandise such as perfumes and bibles to selling cryptocurrency and creating his very own wireless service, effectively making his target consumers his supporters.
Putting the targeting of his supporters aside, holding onto and pursuing even more business opportunities while acting as president of the United States is unprecedented. In the past, presidents have opted to put their business ventures aside and focus their efforts on their presidential duties.
Products and Profit
While campaigning for office in 2024, Trump launched his very own “Never Surrender High Tops” which were originally sold online for $399. This shoe release came directly after he was ordered by a judge in New York to $355 million for lying about his wealth on financial statements to banks, insurers, and more. After the release of his first financial disclosure while in office, these shoes, coupled with his new perfumes, are said to have brought in around $2.5 million for him.
Trump also launched his very own Bibles, going for $60 each, called “God Bless The USA Bibles” and are known as “the only Bible endorsed by President Trump”. This business venture was made in collaboration with country singer Lee Greenwood who wrote the hit song, “God Bless The USA”, that the Bibles and website were named after. The site contains an extensive catalog of Bibles including a signed edition going for $1,000. The site also includes a number of collectables, headwear, and a link to Trump guitars. It is estimated that he has made more than $1.3 million from the Bibles.
The Trump guitars link on the “God Bless The USA Bible” website leads to a website selling “the only guitar officially endorsed by President Donald J. Trump”. On the site you can buy guitars from three different series, the American Eagle Series, the Presidential Series, and the God Bless The USA series. The guitars range in prices from $1,000 to $1,500 except for the specially signed acoustic guitar and electric guitar which go for $10,500 and $11,500.
Last September, he additionally launched a watch line. With over 50 watches to choose from, various men’s and ladies collections, and prices ranging from $499 to as much as $100,000, Trump has been able to make around $2.8 million from the watches.
While in office, Trump has released a new limited edition women’s perfume and men’s cologne called “Victory 47”. Each bottle is going for around $249 each. These fragrances feature a gold statue of Donald Trump on the top of the bottles and are meant to signify his victory of becoming the 47th president of the United States.
In total, Trump has made over $8 million from licensing his name for merchandise and will continue to make even more.
One of his biggest business moves yet has been his involvement in cryptocurrency. His financial disclosure states that he has earned over $57 million in income from selling cryptocurrency tokens through the World Liberty Financial, a cryptocurrency platform founded by himself. He has also launched his own cryptocurrency “meme coin” known as $TRUMP, though his financial gains from this launch have yet to be reported.
One of the latest business launches coming from Trump is “Trump Mobile”, a new phone company. The phone plan will supposedly offer services through three major cell providers and offer a plan called “The 47 plan”. This plan will cost $47.45, referencing his role as the 45th and 47th president of the United States. The company will also offer the option to preorder a golden “T1” phone, with the price sitting at $499.
Legality
The ethics of Trump profiting off of his presidency are more than questionable. The Office of Government Ethics is an office that oversees the executive branch ethics program which works towards preventing financial conflicts of interest and helps ensure government decisions are made free from personal financial bias. Legislation created by this office, the Ethics of Government Act, is the reason why we have access to Trump’s financial reports. The act legally requires federal officials, including the president, to disclose their financial interests.
The Office of Government Ethics has also created legislation that calls into question the legality of Trump’s endorsement of several products. § 2635.702 “Use of public office for private gain” prohibits federal employees from using their position in public office for the endorsement of any product or enterprise for the private gain of friends, relatives, and so forth that are affiliated in non-governmental capacity. Even though all of the merchandise websites state that they are not affiliated with Trump, he has still endorsed these products.
During his last presidential term, Trump was known for having cases against him in regards to violating the Emolument Clause, which keeps government officials from receiving any “presents” including payments from foreign and domestic parties/governments, and other legislations. During his current presidency, he has already shown signs of violating this clause, § 2635.702, and more. Trump is more focused on doing what is best for his personal gains rather than what is best for the United States and those who reside here. We shouldn’t only be focused on the legality of his actions, we should furthermore try to answer the question of how we can call for action and fight back against corruption in the government when we see it.
