Office for profit: How Trump's return will add to his wealth and raise ethical questions 

As Donald Trump is set to enter a second term in the White House, the convergence of his vast business empire and the wealth of his billionaire allies—worth a total of over $400 billion—raise critical questions about the intersection of public office and personal profit.  

While Trump has long emphasised reducing government spending, his presidency could bolster his business empire and reshape US economic policies, driven by allies with significant stakes in technology, finance, real estate and other industries.  

Trump’s Business Empire: Profits and Controversies  

During his first term, Trump’s real estate properties were key revenue generators. His assets brought in $446 million in 2020 alone, with his Mar-a-Lago, Florida residence becoming a central point of convergence for political movers and elite memberships that doubled in price after his 2016 election. Similarly, his global golf courses, from Scotland to Dubai, added $298 million to his income over five years, with political ties fuelling increased activity at his US-based properties.  

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Trump's business dealings aren’t without controversy. A recent court ruling found him guilty of inflating property values, resulting in a $250 million fine and restrictions on his business operations in New York—home to some of his most lucrative assets. These legal challenges may impact Trump’s annual earnings, estimated at over $100 million from real estate holdings in the state.  

A Coalition of Billionaire Backers  

Trump’s circle of billionaire allies includes influential figures with vested interests in his policy agenda:  

- Elon Musk (worth $313 billion as per Bloomberg Billionaire Index): The Tesla and SpaceX CEO will run "Department of Government Efficiency" (DOGE), an agency he proposed in order to streamline federal spending. Musk's alignment with Trump’s deregulation agenda could also benefit his own ventures, including lucrative defence contracts for SpaceX.  

- John Paulson ($4 billion as per Forbes): A financier who profited from the 2008 mortgage crisis, Paulson supports extending Trump-era tax cuts that are set to expire in 2025. He also opposes green energy subsidies, favouring policies that promote traditional energy investments.  

- Howard Lutnick ($1.5 billion): As CEO of Cantor Fitzgerald and Trump’s transition team chair, Lutnick backs pro-Bitcoin and tariff-heavy policies that align with Trump’s trade strategies.  

- Nelson Peltz ($1.7 billion as per Forbes): An activist investor, Peltz’s focus on corporate policy and media aligns with Trump’s economic vision. His influence could extend Trump’s agenda to global markets.  

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International Ventures and Media Expansion  

Trump’s brand is increasingly global, from partnerships with Saudi Arabia’s $2 billion LIV Golf tour to potential new international real estate and media ventures. Analysts speculate Trump could launch a streaming platform or media network, leveraging his political brand in a $300 billion market.  

The Balance of Power and Wealth  

Trump’s potential return underscores the influence of wealth in governance. With billionaire backers driving key policies, his administration could redefine US tax, trade, and regulatory structures—shaping not only the economy but also his legacy as a businessman-politician.  

Whether Trump’s second term prioritises public service or personal profit, it highlights a complex dynamic: how the wealth of a few can steer the fate of an entire nation.  

Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.