America has long had oligarchs, but President Trump’s second term has created a new model where political power directly generates wealth. The Trump family and their allies are now central players in sectors like crypto, AI, and defense, often benefiting from government contracts and regulatory decisions. Critics call this a "sultanistic" system, where loyalty to the president is the key to success.
The Trumps' net worths have surged, with Eric Trump’s wealth jumping tenfold and Don Jr.’s venture capital firm seeing massive returns. Companies like Kalshi and Foundation Future Industries have received government support, raising concerns about conflicts of interest. The Trump Organization denies any preferential treatment, but the overlap between public office and private gain is undeniable.
Source: New York Times Top Stories · Summarized by HeadlinesBriefing