A Fish Rots from the Head, but Media and Apathy Mask the Stink: The Emoluments Clause
“We are a nation of law.” We keep telling ourselves that. None of us are beyond the law, not even our president. And we nod our heads in agreement, but it is simply no longer true.
We have a president on the make.
The U.S. Constitution’s Emoluments Clauses are anti-corruption provisions (in Article I, Section 9 & Article II, Section 1) preventing federal officials, especially the President, from accepting titles, gifts, or payments from foreign or state governments without Congressional approval.
That is specifically meant to ensure loyalty to the U.S., rather than foreign powers or private gain. “Emolument“ broadly means any profit, benefit, or advantage from holding office.
The fact is, Donald Trump has an entire enterprise devoted especially to that purpose.
Have you visited Trumpstore.com?
Go take a look.
It’s the Official Retail Website of the President’s official product site. It sells Trump-branded merchandise, apparel, headwear, and gifts. And, it’s operative while he is a sitting president.
It’s headline boasts INFUSE THE ELEGANCE OF TRUMP IN YOUR NEXT EVENT. From drinkware and entertaining accents, to apparel and memorabilia, the elegance of Trump will take your event to the next level. Check out our Holiday Gift Guide, Fall Collection, New Arrivals, American Revival, Best Sellers, Made in America, 45-47, MAGA Collection, Golden Age Of America, Trump Social Club, Mar-a-Lago, or Ornaments.
Does any of that sound like profiting off the presidency?
Here’s more:
Domestic government spending at Trump properties.
Federal, state, and party-affiliated events are often held at Trump-branded venues. Republican committees, inaugural-adjacent events, and donor gatherings frequently use Trump golf clubs and resorts. Government agencies and political groups paid market or above-market rates to Trump-owned properties. Trump retained ownership rather than placing assets in a blind trust, unlike prior presidents.
Regulatory and policy decisions affecting Trump businesses.
Executive and agency actions benefiting industries where Trump had direct financial exposure, such as environmental and zoning rollbacks aiding golf courses and real-estate developments, tax, depreciation, and pass-through provisions favorable to large real-estate holdings, and reduced enforcement pressure on hospitality, construction, and branding operations.
Even broadly applicable rules can become problematic when the president has concentrated personal exposure in the affected sectors.
Cryptocurrency and digital asset ventures.
Promotion and monetization of Trump-branded crypto products, including branded NFTs and crypto-related ventures that generated millions in reported income. Crypto offerings benefited directly from Trump’s public profile and political power.
A UAE-based entity called Aqua1 Foundation reportedly bought about $100 million worth of World Liberty Financial ($WLFI) tokens, making it the single largest early purchase known publicly. Separately, a firm in Abu Dhabi (UAE) used $2 billion of the USD1 stablecoin (a related Trump family crypto) in a transaction tied to Binance liquidity — though whether this directly paid to the Trump entities or flowed through intermediary transactions isn’t fully transparent.
Justin Sun, a prominent China-born crypto entrepreneur, is publicly known to have been one of the largest buyers of the $TRUMP memecoin, reportedly spending tens of millions of dollars (reports range around $18.5 million or more on memecoins) and ranking first on the early leaderboard.
Analysis of top $TRUMP memecoin holders suggests many of the largest holders are likely foreign because their wallets interacted primarily through foreign exchanges (like Binance, Bybit, and OKX), which don’t allow U.S. users — a strong indicator of non-U.S. nationality.
What’s Not Publicly Known, is the exact country breakdown for all buyers: Blockchain transactions are pseudonymous, so detailed nationality or residency for holders isn’t generally disclosed in public reporting. While wallets tied to foreign exchanges imply non-U.S. holders, there are no reliable lists of every country or exact amounts by nation.
This is a new revenue channel unavailable to prior presidents and uniquely opaque.
Financial benefit from delays, restructurings, and favorable outcomes.
Lengthy litigation during his presidency postponed penalties, interest, or enforcement actions. Being president arguably improved bargaining leverage with lenders and partners. Trump’s foreign real-estate profits during his presidency did not usually come from owning land abroad. Instead, they came from brand-licensing deals, and management contracts (fees without capital risk).
Local partners who absorbed risk, regulatory hurdles, and financing.
Foreign government approvals became far more likely once Trump was president. This structure minimized Trump’s risk while maximizing upside—and depended heavily on political goodwill abroad.
Golf, hospitality, and branding expansion in Saudi Arabia. Trump maintained and expanded business relationships with Saudi-linked investors and developers. Saudi tournaments such as LIV Golf were held at Trump properties, funneling tens of millions of dollars in fees, rentals, and publicity.
The Trump Organization announced or revived Saudi-linked luxury and golf projects during and after his first presidency.
United Arab Emirates (UAE) – Golf courses and luxury towers.
Trump-branded golf courses and towers in Dubai and other Emirates continued generating licensing and management revenue. Regulatory and zoning approvals were controlled by state-linked authorities, and projects were announced or accelerated during periods of strong diplomatic alignment. UAE developers shouldered all the construction risk.
Trump earned an increased and steady income simply from name usage and promotion as president of the United States. That status enhanced both his brand prestige and bargaining power. The UAE is a centralized, state-capital system—major real-estate deals require political approval.
Scotland & Ireland. Golf resorts with regulatory relief.
Trump owns golf courses in Scotland (Turnberry, Aberdeenshire) and Ireland (Doonbeg). During his presidency, local governments approved infrastructure upgrades, while environmental and zoning pressures were eased. Public funds were used for road and utility improvements, benefiting Trump resorts, thus increasing asset value without equivalent private investment. These are owned assets, not licensing deals, so benefits flowed more directly to Trump personally.
Turkey. Istanbul Trump Towers.
Trump Towers Istanbul is a licensing deal with a politically connected Turkish developer. The project required approval under the Erdoğan government, and Trump publicly acknowledged he had a “little conflict of interest” in Turkey. He received licensing fees while in office, and while Turkey was repeatedly involved in sensitive U.S. foreign-policy decisions.
India – Luxury towers and regulatory fast-tracking.
Developers sought faster approvals and prestige via Trump branding residential towers in Mumbai, Pune, Gurgaon, and Kolkata. His organization collected licensing and promotional fees.
India’s real-estate sector is heavily regulated. Political goodwill at the national and state levels materially affects project success, and Trump’s presidency boosted brand leverage.
Renewed licensing interest in the Philippines & Southeast Asia. Trump-branded towers in Manila and renewed interest in Southeast Asian developments included projects tied to politically connected families. Thus, the Trump Organization benefited from renewed marketing momentum.
Are those ‘emoluments enough’ for you?
President Richard Nixon stared directly into the cameras prior to his resignation and declared “I am not a crook.”
In those not-so-long-past days, we actually were a nation of laws, and presidents who broke them paid a price. That is no longer true, and we are the poorer for it. This president has not only broken the law, he ignored judgements handed down to him by the Supreme Court of the United States.
In one key 2025 immigration case (Trump v. J.G.G.), the Supreme Court focused narrowly on legal procedure. The Court said that when migrants challenge their deportation, those challenges must be brought as habeas corpus petitions where the migrants are detained. The justices emphasized that the government must provide due process, notice and a chance to be heard, before deporting someone under statutes like the Alien Enemies Act.
One of the court’s key points was that even when the government invokes an old statute such as the 227 year old Alien Enemies Act of 1798, the Fifth Amendment’s due-process protections still apply. Detainees must receive notice and an opportunity to seek habeas relief before removal.
In violation of that finding, Trump did not then and does not today follow the Court’s directive.
Nixon resigned the presidency for a single criminal act.
Donald Trump is guilty of innumerable criminal acts.
Either now, or in future, Trump will have a very difficult time declaring “I am not a criminal.”