Summary
Overview
This Planet Money episode examines how President Donald Trump and his family have made approximately $4 billion during his second term in office, a stark departure from his first term and unprecedented in U.S. presidential history. Reporter David Kirkpatrick provides a comprehensive accounting of money made across categories including cryptocurrency, real estate deals, merchandise, media ventures, and legal settlements—focusing only on profits that wouldn't have existed without Trump's presidency.
The Scale of Presidential Profiteering
The episode opens with New Yorker reporter David Kirkpatrick revealing that Trump and his family have made approaching $4 billion during the second term, with almost all of it earned in the past year. This represents a fundamental shift from the first term, when the family voluntarily avoided overseas deals. Now, as Donald Trump Jr. explains, they've decided to pursue business opportunities despite criticism, leading to unprecedented presidential profiteering.
- Trump and family have made approaching $4 billion, almost all in the past year
- In first term, Trump family voluntarily avoided foreign deals; this term they've abandoned those restrictions
- Trump Jr. says they decided to pursue business since criticism comes regardless
- David Kirkpatrick only counts deals inconceivable without Trump being president
" We stopped entirely. So this time around, we said, hey, we're going to play by the rules, but we're not going to go so far as to stymie our business forever, lock ourselves in a proverbial padded room, because it almost doesn't matter. They're going to hit you no matter what. "
" So effectively, they've just said, since we're going to get criticized, we might as well take the money and run. "
Methodology and Historical Context
David Kirkpatrick explains his conservative methodology for calculating Trump family profits, focusing only on money that clearly wouldn't have been earned without the presidency. He excludes pre-existing business income and many deals that might have happened anyway. The reporting also establishes that while previous presidents have profited after leaving office through book deals and speaking fees, Trump is unique in directly profiting during his presidency at this scale.
- Kirkpatrick's $4 billion figure is intentionally conservative, representing a minimum
- Only counts deals inconceivable without Trump being president
- Previous presidents made money after office (Clinton speeches, Obama Netflix), but not during
- Campaign donations and ambassadorships to donors are routine but different from personal profit
" Those are campaign donations. They are not personal profit. They don't go to the president. Trump is the first president to make so much money explicitly off of the White House for himself and his family. Money that actually goes into his own pocket that he can use at his pleasure after he leaves office. "
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