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Donald Trump's latest financial disclosure has revealed that his wealth has increased by roughly $1.4 billion in his first year back in office. Hundreds of millions of dollars have reportedly come from cryptocurrency ventures including the Trump meme coin and World Liberty Financial. Shelagh Fogarty speaks to Emily Maitlis, host of The News Agents podcast, about what the disclosures reveal, whether there are potential conflicts of interest, and why Trump's comments about the upcoming midterm elections are also raising eyebrows. Listen to the full show on the all-new LBC App: https://app.af.lbc.co.uk/btnc/thenewlbcapp #shelaghfogarty #emilymaitlis #politics #uspolitics #usnews #donaldtrump #trump #midterms #midterms2026 #usa #crypto #cryptocurrency #trumpmeme #LBC LBC is the home of live debate around news and current affairs in the UK. Join in the conversation and listen at https://www.lbc.co.uk/ Sign up to LBC’s weekly newsletter here: https://l-bc.co/signup
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0:00
Donald Trump rather dwarfs that
0:02
He made more than... That's Emily Maitlis, you can hear laughing in the background. He made 1 billion, more than 1 billion last year. 1.4
0:09
1.4, thank you, from the business dealings in cryptocurrency. Before Emily tells us more about it
0:14
this was Donald Trump an hour ago whilst boarding the new Air Force One
0:18
Well, I've made a lot of money before I became president, and they invest my money, and I don't talk to them
0:24
I don't even speak to them. So I have many people, I don't know what they call
0:28
closed accounts or something. You put your money in and that's it. I don't talk to them
0:32
They're big institutions and they run it. But yeah, I've had a great career in business
0:38
I've had a great career. I don't know if I've had a better career in politics or business, but I had a great career in business
0:45
And, you know, you saw the cash and you report the different things
0:50
And what they do is we gave it, I think it's called the blind account, but they basically, they take it
0:55
And I purposely, I never speak to any of the people that run the money. But they're at big institutions, and they invest in whatever they invest in
1:03
But critics say you're profiting off the president. Well, you know why I'm profiting
1:08
Because the stock market's going up. Everybody's profiting. You have a 401k
1:13
How's your 401k done? It's about up 85 percent. Thank you, President Trump
1:19
So we're all profiting. I'm profiting because I have a lot of money and a lot of cash, and I give it to institutions
1:26
I don't know if they know what they're doing or not. he couldn't be more uh american if he tried could he you know what i mean by that the kind of old
1:34
school textbook i got a lot of money i shoot from the hip yeah and to that question has he done better
1:41
from business or from politics he's done best of all from business through politics he has
1:48
enriched himself as you say to the tune of 1.4 billion dollars in the last year that's around
1:54
750 million pounds from business dealings in cryptocurrency as president. And I think that
2:03
is why we are at this side of the ocean, at least there is a sharp intake of breath, because this
2:08
has all come out in a 900 page disclosure, where we now understand the royalties he got from
2:16
for example the Trump meme coin 635 million that has now plunged in value since he launched it days before taking office He reported 500 million dollars in income from World Liberty Financial cryptocurrency
2:29
founded by the drum roll his own sons and the children of his special envoy Steve Wyckoff
2:37
And where have you heard Steve Wyckoff's name mentioned before? Steve Wyckoff is the man that he sends out to try and negotiate peace, right
2:46
And it's all business dealings. Well, you know, we haven't got peace in Ukraine
2:50
We haven't got Russia around the table. We haven't really sorted out, you know, the Middle East
2:56
And suddenly it all becomes a bit clearer that what you are sending Steve Whitcoff out to do
3:02
is to bring back some lucrative businesses for your presidency. And when he says, I don't talk to them, I don't talk to them
3:09
whatever they're called, who's he talking about when he says that? Just big sort of blind trusts
3:14
Well, look, the idea of a blind trust is that you lock everything down where it cannot be touched if you're gaining the presidency
3:21
Just to get back to the American ideal, right? The ideal is that you will take public office and most likely end up being in debt
3:30
because you are giving your service to the American people rather than enriching yourself
3:36
Just to take you back to the 70s. For a bit. For a bit, of course. You know, Jimmy Carter gave up his peanut farm, right
3:42
he had a peanut farm he had to write that off because he was going into you know the biggest
3:47
job in the world the idea that trump has not only clearly you know not tucked his business away he
3:55
has used his status through uae deals the qatari jet um even when he was talking about um ending
4:05
the war that the you know the invasion of ukraine remember it was all about the mineral deals sign
4:11
up to the mineral deals and then we'll see what we can do for peace afterwards remind me as well of the country that gave him a bar of gold bullion do you remember that it was it was only it was
4:19
just one there was a woman who presented it in in the over well tim cook did the same tim cook
4:26
went into you know the head of apple went went into the office and said you know have a gold
4:32
Here you are Mr 47 And I think what is extraordinary I guess is that if you remember Nigel Farage face last week when he was clearly spooked by a lot of those media interviews who were trying to understand the million donation that he hadn declared and how he could justify
4:53
Also from a crypto billionaire. Also from a crypto billionaire, Christopher Hublin, how he could justify that that was for security
4:59
but also he kept on saying, I could buy Ferraris if I want. I mean, he was talking to Nick Ferrari at the time
5:05
The mind boggles. Small F. But that is being investigated here by the Parliamentary Commissioner, right
5:13
We are waiting to see the effect of his findings on what happens next to Nigel Farage
5:18
Who's investigating Trump for this? No one. And the President also reminded people, he's highlighted
5:25
he isn't subject to federal conflict of interest laws simply by being President
5:30
That doesn't sound right. Look, what happened a couple of years ago with that case that went to the Supreme Court
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about whether Donald Trump had been part of the riots that kicked off the terrible events at the Congress at Capitol Hill
5:46
on January 6th of 2021. The court came back and said, essentially, anything that Donald Trump did in the office of president
5:56
is allowed because he was doing it as president at the time
6:01
And many of the judgments that the Supreme Court have made have essentially widened the scope of executive power
6:09
Not all, you know, some places they've taken it away. They wouldn't allow his tariffs to go ahead, famously
6:15
They wouldn't allow him to remove birthright citizens. That came overnight, just in the last 24 hours
6:21
But many of the decisions they've taken have essentially given Trump more scope
6:26
And why this is so interesting is because that whole conversation about how you regulate crypto
6:31
is a really live one in America, as it is here. And it is one that falls under the domain of executive orders, of executive office
6:41
So Trump is essentially having a conversation with himself as the executive
6:45
about how to regulate cryptocurrency, whilst anyone involved in cryptocurrency and those businesses
6:52
can presumably just sort of whisper in his ear that he might like to
6:56
you know, look into the gold bar room for a little while. and get somebody called Whitcoff to take a look at it for it
7:03
Why don you go send the sons in you know And that sort of carte blanche that you described there a moment ago does that sort of insulate him entirely from any investigation until after he no longer in office
7:17
I mean, it is obviously against the Constitution to enrich yourself in office
7:23
Through it. Well, through what they call treason or bribery. So, yes, you're allowed to, I mean, I guess you are allowed as a president to see your wealth increase
7:34
I mean, what he was trying to say to the journalist there was, oh, it's all coming through my pension fund as it is yours
7:40
The 401k is the pension fund. In other words, if the stock market's doing well, are my interests accumulating and vesting
7:48
I also felt he was saying, you know, I'm just the same as you. We go up, we go down
7:53
Aren't you lucky that I'm your president? I bet yours are doing the same. But when it comes to an actual question of bribery, and I think we have pretty much established by now there has been no more corrupt president in office than Trump, then you can ask questions about where the Constitution kicks in because treason and bribery are impeachable offences
8:17
I doubt the Democrats would want to go down that road again
8:21
but it does feel to me quite important that someone somewhere wakes up to this
8:27
and says just because you say it out loud doesn't make it okay you know just because you wear it on your sleeve
8:32
and you flaunt it and you talk up how well you've done that doesn't make it okay
8:37
and also from his perspective his Donald Trump's perspective he's now thinking well I've got what
8:42
18 months, couple of years maximum left to be able to do this the way I'm doing it
8:46
I think he's thinking two things. I mean, he revealed his thoughts a couple of days ago when he was asked about the midterm elections in November
8:55
And he slightly changed his tune. He said, we've got to win them. We've got to go out and win them. Otherwise, I get impeached
9:01
So, you know, he is still thinking that if things don't go according to plan, he literally said that
9:06
He literally said that. And because up to this point, he hasn't been very invested in the midterms because he's been more invested in legacy
9:16
you know whether it's the ballroom or the arc to trump or the martial arts game which element
9:22
there might be for him in gaza potentially yeah exactly but i think at this point he is he has
9:28
got one eye to what could happen to me if things don't go according to plan interesting thank you
9:32
very much emily
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