Foreign money & deals

Qatar's $400 million jet

~$400M aircraft, plus the refit

The Pentagon accepted a Boeing 747-8 from Qatar's royal family as an “unconditional donation” for use as Air Force One; Trump first flew on it in July 2026. Taxpayers are paying to refit it: the Air Force says under $400M, the New York Times reported a $934M budget transfer. An early plan to hand the plane to his presidential library afterward is now “not the plan at the moment,” per Eric Trump.

Their response: White House: gifts are “accepted in full compliance with all applicable laws.” The administration says the jet is a gift to the Defense Department, not to Trump.

Sources: CNN · ABC News

Foreign licensing income up 71% in his first year back

$59.5M foreign licensing income, 2025

Trump's disclosure for 2025 shows $59.5M from licensing his name to foreign real-estate projects, including $25.8M from a Saudi developer's companies and $11.3M from Dubai's Damac. The watchdog group CREW counts 24 Trump-branded projects being developed abroad this term, 13 of them first announced since he became a candidate in 2022, and more than $117M in total foreign revenue for the year.

Their response: The Trump Organization says it does not do business with foreign governments, only private companies. A White House official: “This has nothing to do with the White House.”

Sources: CNBC · Trump's 2026 financial disclosure (OGE) · CREW (watchdog)

A $1.5 billion Trump golf resort in Vietnam, during tariff talks

$1.5B project (partners' investment)

Vietnam's prime minister and Eric Trump broke ground on a Trump-branded resort while Vietnam faced a threatened 46% U.S. tariff. Six weeks later Trump announced a deal at 20%. (The $1.5B is the developers' investment, not Trump's income; he earns license fees.)

Their response: A White House official said of the foreign licensing deals: “This has nothing to do with the White House.”

Sources: Forbes · CNBC

Trump towers and golf across Saudi Arabia

$10B of projects marketed (project value)

With Saudi developer Dar Global, the Trump Organization has launched Trump Tower and Trump Plaza in Jeddah and, in January 2026, a Trump golf community inside Diriyah, a development backed by the kingdom's sovereign wealth fund. Eric Trump has marketed the Saudi pipeline at $10B.

Their response: The Trump Organization says its partner is Dar Global, a private company, not the Saudi government.

Sources: PBS / AP · Semafor

A Trump golf resort on Qatari state land

$5.25M licensing income

Two weeks before Trump's state visit to Doha, the Trump Organization announced a golf club and villas inside a development led by Qatari Diar, a company created by Qatar's sovereign wealth fund. His disclosure shows $5.25M in licensing income from it.

Their response: Eric Trump says the company has “zero relationship” with Qatari Diar; its contract is with Dar Global.

Sources: Yahoo News / AP · CNBC

A gold bar and a Rolex clock, ten days before a tariff cut

$130,000+ gold bar, plus the clock

Swiss executives, including the heads of Rolex and a gold refiner, gave Trump a one-kilogram gold bar (worth over $130,000) and a Rolex desk clock in the Oval Office. Ten days later the U.S. cut its tariff on Swiss goods from 39% to 15%. Swiss lawmakers asked prosecutors to review the gifts.

Their response: White House: “The only special interest guiding President Trump's decision-making is the best interest of the American people.” The gifts and timing are documented; a quid pro quo is alleged.

Sources: Sen. Wyden letter to the U.S. Trade Representative · Bloomberg

Advanced AI chips for the UAE, after the UAE-backed crypto stake

Up to 35,000 chips (~$1B, press estimate)

The Commerce Department approved exports of Nvidia's most advanced chips to G42, a UAE firm chaired by Sheikh Tahnoon, whose investment vehicle had bought 49% of the Trump family's crypto company (see Crypto ventures).

Their response: Commerce says recipients must meet “rigorous security and reporting requirements”; the White House denies any link. The approval is documented; a connection to the investment is alleged.

Sources: Commerce Department · The National

Saudi-funded LIV Golf at his courses

Fees undisclosed

The golf league funded by Saudi Arabia's sovereign wealth fund played tournaments at Trump Doral (2025, with Trump attending), Trump National near Washington (2026), and Bedminster (2026). The fees paid to his clubs are not disclosed.

Sources: Bloomberg · CNBC

Foreign officials at Trump properties

55 officials, 21 countries (first term: $7.8M+ documented)

CREW counted 55 officials from 21 countries making 60 visits to Trump properties in his first year back, and eight foreign governments sponsoring events there. In his first term, House Democrats documented at least $7.8M in payments to his businesses from 20 foreign governments.

Their response: The Trump Organization pledges to donate identifiable foreign-government profits to the Treasury; no figure for this term was found.

Sources: CREW (watchdog) · House Oversight Democrats (partisan), 2024

New Trump projects in India, the Maldives, Georgia, Indonesia, Dubai, and Oman

13 foreign projects first announced since his 2022 candidacy (CREW)

Since the election the company has announced or advanced Trump-branded towers and resorts in at least nine countries, including a “tokenized” resort in the Maldives, a tower in Tbilisi, towers in India, an 80-story tower in Dubai, and a resort in Oman built with the state tourism developer.

Their response: The Trump Organization says its counterparties are private developers.

Sources: Bloomberg · The National · CREW (watchdog)

Korean firm paid Trump’s company $2 million while its aluminum unit fought a Commerce trade case

$2M “non-refundable development fee” (his own disclosure)

Trump’s 2026 financial disclosure lists a $2 million “non-refundable development fee” paid in 2025 to Trump Acquisition LLC, 99% owned by his holding company, under a letter of intent with South Korea’s Base Co. Ltd. The New York Times and the Washington Post reported on July 14, 2026 that Base’s affiliate Korea Aluminium was at the time before the Commerce Department in an antidumping case over foil made with Chinese aluminum; the Times said it found no evidence that Trump or his family intervened. Commerce set the firm’s duty at 27.19% in April 2026 and 28.01% in May; in a preliminary ruling signed July 7, 2026, after the disclosure became public, it moved the firm to the 105.80% China-wide rate for not filing a separate-rate application. Senators Warren, Blumenthal and Andy Kim wrote to the Trump Organization in August 2026 asking what the money was for.

Their response: Trump Organization, to the Washington Post as carried in Korean by Maeil Business: the $2 million was an ordinary business deal under a golf-course development letter of intent signed in August 2025 and had nothing to do with aluminum exports. White House spokesman Kush Desai, to the Times as carried by Hankyoreh: there is no conflict of interest. Base Group gave the same golf-course explanation. These are translations back from Korean; the exact English wording was not seen.

Sources: Trump annual financial disclosure, OGE Form 278e, line 267 (filed 2026) · Hankyoreh, relaying the New York Times (July 15, 2026, in Korean) · Maeil Business, relaying the Washington Post (Aug. 7, 2026, in Korean) · Federal Register: preliminary results, 2024-2025 review (July 13, 2026) · Federal Register: amended final results, 2023-2024 review (May 27, 2026)

Trump’s “Board of Peace”: $1 billion buys a permanent seat on a body he chairs with no term limit

$1B for a permanent seat (draft charter, per ABC News)

The charter of the Board of Peace, circulated to invited governments in January 2026, names Donald Trump as chairman with no fixed term (a U.S. official said he can hold the post “until he resigns it”) and gives permanent membership to states that contribute more than $1 billion in cash in the first year. At the first meeting in February 2026 Trump said nine members had pledged $7 billion and the U.S. $10 billion. In May 2026 the Financial Times, as relayed by the Jerusalem Post, reported that the board’s World Bank fund had received “zero dollars” and that donations, including about $20 million from Morocco and $100 million from the UAE, had gone to a JPMorgan account with no duty to report to contributors. The money goes to the board, not to Trump personally, and no payment to him is alleged.

Their response: A U.S. official told ABC News the contributions are “voluntary” and that the board will “implement the highest financial controls and oversight mechanisms.” The board, on X, about the FT report: “They cite just one of many funding mechanisms that to date has not been utilized by the donor community.” A board spokesperson: “We’re not, like, hoarding money in a bank account and then awarding contracts for things that can’t be delivered.”

Sources: ABC News (Jan. 20, 2026) · Jerusalem Post, relaying the Financial Times (May 27, 2026) · The Guardian (Jan. 20, 2026) · NBC News (Jan. 2026) · Associated Press (Feb. 19, 2026)

Trump said Venezuela’s oil money “will be controlled by me”; the first $500 million was held mainly in a Qatar account

$500M from the first oil sale (administration figure)

Days after U.S. forces seized Nicolas Maduro in January 2026, Trump posted that up to 50 million barrels of Venezuelan oil would be sold and “that money will be controlled by me, as President of the United States of America.” The first sale brought $500 million; Semafor reported, citing a senior administration official, that the main account holding the proceeds was in Qatar, and CNN reported the White House would not comment on that. Democrats said the Constitution gives Congress, not the president, control of such funds. Treasury Secretary Bessent said the money would be sent on to Venezuela for government operations, security and food; there is no evidence Trump took any of it.

Their response: Bessent: “Treasury’s role will be making sure the funds get to the proper place. We’re the bankers here; we don’t direct the funds.” An administration official told CNN: “As a reminder, Venezuela has been isolated from international banking for years.” Sen. Elizabeth Warren: “There is no basis in law for a president to set up an offshore account that he controls so that he can sell assets seized by the American military.”

Sources: Semafor (Jan. 14, 2026) · CNN (Jan. 15, 2026) · New York Times (Jan. 7, 2026)

After Qatar’s jet: an order pledging to defend Qatar, then a Qatari air force facility in Idaho

On September 29, 2025, months after the U.S. accepted a Boeing 747 from Qatar’s royal family, Trump signed an executive order stating that the United States “shall regard any armed attack on the territory, sovereignty, or critical infrastructure of the State of Qatar as a threat to the peace and security of the United States” and would respond with measures including, “if necessary, military” ones. The White House did not announce it; it surfaced in press reports two days later. On October 10 Defense Secretary Pete Hegseth announced a Qatari air force facility at Mountain Home Air Force Base in Idaho. The order followed Israel’s September 9 strike on Doha, and Singapore already trains pilots at the same base; any link to the jet is an inference.

Their response: Hegseth, after criticism from Trump supporters: “to be clear, Qatar will not have their own base in the United States - nor anything like a base. We control the existing base, like we do with all partners.” The White House did not respond to HuffPost’s questions about the order.

Sources: White House, executive order (Sept. 29, 2025) · CNBC (Oct. 10, 2025) · HuffPost (Oct. 1, 2025)

Trump agreed to sell Saudi Arabia F-35s and lift an AI chip ban as his company expanded there

During Crown Prince Mohammed bin Salman’s White House visit on November 18, 2025, Trump said the U.S. would sell Saudi Arabia F-35 stealth fighters, the first such sale to a Middle Eastern state other than Israel, and the administration said it would lift the ban on selling advanced AI chips to the kingdom. The prince said Saudi investment in the U.S. would rise to $1 trillion, with no timescale. The Guardian noted the relationship had been “bolstered by business dealings” of Trump’s family and friends in the Gulf; Saudi developer Dar Al Arkan paid the Trump Organization $21.9 million in licence fees in 2024 for projects in Dubai and Oman. No evidence shows the arms or chip decisions were made in return, and Congress can block parts of the package.

Their response: Trump, asked about his family’s Saudi deals during the visit: “I have nothing to do with the family business. What my family does is fine. They do business all over.”

Sources: The Guardian (Nov. 18, 2025) · The Guardian (Nov. 23, 2025) · The Guardian (Nov. 18, 2025) · The Guardian (Dec. 29, 2025)

Syria dangled a Trump Tower Damascus, then a Trump golf course, while seeking sanctions relief

The Guardian reported in May 2025 that a 45-storey Trump Tower Damascus, costing up to $200 million, “was proposed in an effort to woo the US president” as Syria’s new government sought an end to U.S. sanctions; a week earlier Trump had announced he would lift them. In November 2025 the U.S. suspended Caesar Act sanctions for 180 days. The New York Times reported in April 2026 that the Syrian-born Al-Khayyat brothers, who were winning more than $12 billion in Syrian state-backed contracts and needed permanent repeal, were advised by Rep. Joe Wilson to “Make it a Trump National Golf Course in Syria,” and were negotiating to help finance a Kushner and Ivanka Trump resort in Albania. Neither Trump project has a signed deal, and no evidence shows sanctions relief was traded for business.

Their response: The Trump Organization “says there is no deal and no discussion is underway” on a Syrian golf course, according to the Times. The Damascus developer told the Guardian franchise permission from the Trump brand was “still being sought.”

Sources: The Guardian (May 22, 2025) · New York Times (April 19, 2026) · The Guardian (Nov. 10, 2025)

Pentagon took a stake in a Venezuelan oil firm whose owner was drawn into graft probes, never charged

In August 2026 Trump announced that the Pentagon would own about a third of North American Blue Energy Partners (Nabep), a Barbados-registered Venezuelan oil company owned by Alejandro Betancourt, and called it “the biggest oil deal in world history.” A Guardian investigation published September 26, 2026 found the Pentagon told Congress it holds only “warrants” to buy shares, that experts say the law does not let the office involved hold equity, and that Betancourt “was brought into the deal by a private associate of Marco Rubio, according to three people who know him.” Betancourt has been named in press reports on Venezuelan corruption cases but has never been charged. No payment to Trump or any official is alleged.

Their response: A Pentagon spokesperson: the departments “negotiated a historic opportunity to secure US majority control of more than 65bn barrels of proven oil reserves in Venezuela at zero taxpayer cost.” The State Department: “This is a private deal with a private company.” Betancourt’s lawyer: “Mr Betancourt has never been charged with a crime in the United States. He has never been named as a defendant.”

Sources: The Guardian (Sept. 26, 2026) · The Guardian (Aug. 28, 2026)

Pakistan courted Trump’s circle with lobbyists, a Nobel nod and mineral deals; envoy brokered a hotel pact

$450,000 a month in lobbying contracts (Global Witness)

Pakistan signed two contracts with “Trump-linked lobbyists worth $450,000 a month” within months of the 2024 election, including one involving “the president’s former bodyguard Keith Schiller,” the Guardian reported from a Global Witness study; one FARA filing shows a $250,000 monthly retainer. It nominated Trump for the Nobel Peace Prize in June 2025 and promoted its oil and minerals; in August 2025 Trump gave it a 19% tariff, the lowest in South Asia, and a $500 million U.S. minerals deal followed. The New York Times reported in March 2026 that envoy Steve Witkoff then unveiled a U.S.-Pakistan arrangement to explore redeveloping the Pakistan-owned Roosevelt Hotel in Manhattan, which it called “part of a broader strategy of wooing the president and his inner circle.” No payment to Trump or Witkoff is shown.

Their response: A White House official described the hotel arrangement to the Times as “a potentially lucrative partnership between the two governments to co-own the property.”

Sources: New York Times (March 26, 2026) · The Guardian (July 10, 2025) · The Guardian (Sept. 27, 2025) · Justice Department FARA filing, Orchid Advisors and Embassy of Pakistan (April 11, 2025)

Bondi narrowed foreign-agent prosecutions; firms close to Trump then signed up foreign governments

$17M in contracts with 11 poor countries (Global Witness count)

On her first day as attorney general, February 5, 2025, Pam Bondi ordered that criminal charges under the Foreign Agents Registration Act “shall be limited to instances of alleged conduct similar to more traditional espionage by foreign government actors” and disbanded the FBI’s Foreign Influence Task Force. Bondi had herself been a registered agent for Qatar at Ballard Partners, at $115,000 a month according to Senate Judiciary Democrats. Justice Department filings since then show Taiwan’s office hired Javelin Advisors, whose filing is signed by Trump’s former bodyguard Keith Schiller, at $50,000 a month, and Ballard, led by Trump fundraiser Brian Ballard, added the Saudi embassy and Turkey’s defense ministry. A Global Witness study reported by the Guardian counted $17 million in contracts between Trump-linked lobbying firms and 11 of the world’s poorest countries within six months of the election; the firms registered as the law requires, and no decision is shown to have been bought.

Their response: The memo says prosecutors “shall focus on civil enforcement, regulatory initiatives, and public guidance.” Ballard Partners declined to comment on Sludge’s detailed questions.

Sources: NBC News (Feb. 6, 2025) · FARA filing, Javelin Advisors and Taiwan’s representative office (March 23, 2026) · Senate Judiciary Committee Democrats (Jan. 15, 2025) · The Guardian (July 10, 2025)

Bosnia wrote a firm run by two Trump allies into law as builder of a gas pipeline, with no tender

$1B+ in contracts (Guardian estimate)

The Guardian reported on May 30, 2026 that AAFS Infrastructure and Energy, a company with no pipeline record, was named in a March 2026 Bosnian law as contractor for the Southern Interconnection gas pipeline, with no competitive tender; a confidential proposal priced the pipeline at 300 million euros plus 900 million euros for three power plants. Its representatives are Jesse Binnall, a lawyer who has represented Trump and Donald Trump Jr., and Joe Flynn, brother of former national security adviser Michael Flynn. The U.S. embassy publicly backed the project, which three administrations have supported as a way to cut reliance on Russian gas. The firm’s full ownership and expected returns are not disclosed.

Their response: Binnall: “We are the right team for this. No other group combines on-the-ground presence in Bosnia with strong support in America.” The State Department said the pipeline “has been a [US government] priority for the past three administrations” and will reduce Bosnia’s “dependence on a single, unreliable source.”

Sources: The Guardian (May 30, 2026)

Trump Tower Tbilisi is planned on land part-owned by the son of Georgia’s U.S.-sanctioned leader

The Guardian reported on May 25, 2026 that the 70-storey Trump Tower announced for Tbilisi in April is to be built on a plot whose registered owner is a fund owned by Cartu Group, which is 35% owned by Uta Ivanishvili, eldest son of Bidzina Ivanishvili. The elder Ivanishvili, Georgia’s de facto leader, was put under U.S. sanctions in 2024 for undermining Georgia’s democratic future “for the benefit of the Russian Federation.” The son is not sanctioned, none of the Trump Organization’s named partners are, and the sanctions carve out businesses the father controls. No U.S. decision on the sanctions has been linked to the project.

Their response: The White House referred questions to the Trump Organization, which did not respond. Ivanishvili’s lawyer said the family signed a preliminary agreement in October 2023 to sell the remaining 80,000 square metres and that “the future owner is Central Park Avenue LLC.” Eric Trump, in the April announcement, said the company was “especially pleased to collaborate with such respected and professional developers.”

Sources: The Guardian (May 25, 2026)

Antwerp diamond group made Trump a jeweled ring months after U.S. tariffs on its diamonds went to zero

$25,000 to $35,000 (two jewelers’ estimates for AP)

On June 28, 2026 the head of the Antwerp World Diamond Center handed the U.S. ambassador to Belgium a gold ring for Trump, valued by two independent jewelers at $25,000 to $35,000, set with 321 diamonds, 56 sapphires, 13 emeralds and six rubies and engraved “Crafted in Antwerp for Donald John Trump.” The AP reported the gift came months after the group said it had “succeeded in securing a zero percent import tariff” on Antwerp’s more than $2 billion a year of polished diamond exports to the U.S. As of July 2 a White House official said the ring had not yet been presented to Trump; the ambassador said it would be displayed in the Oval Office. In August 2026 Senators Warren and Blumenthal wrote to the group about the gift.

Their response: Trump, in a recorded message: “A very special thank you to my friends from Antwerp for the magnificent Freedom 250 ring.” The diamond group’s spokesperson said it gave “input” to the European Commission during the 2025 tariff talks but did not itself lobby the administration.

Sources: Associated Press (July 3, 2026) · Sen. Elizabeth Warren, press release listing the August 2026 letter (Sept. 2026)