According to the report, Trump did not commit during his second campaign to restrict overseas business dealings by family members. Since returning to office, enterprises linked to the Trump family have reportedly expanded beyond real estate into sectors such as cryptocurrency, artificial intelligence, data centres, and defence-linked technology—often in regions that also feature prominently in US diplomatic or commercial engagements.
The investigation claims that Trump-branded real estate projects advanced in several countries after high-level diplomatic interactions or policy decisions by the administration. In Saudi Arabia and Qatar, Trump-linked developments reportedly moved forward alongside security discussions and government-backed investments. In the UAE, approval for the sale of advanced US chips in 2025 coincided with large purchases of crypto assets issued by a Trump-associated firm, generating significant profits, the report said.
The NYT further noted business activity in Albania, Oman, the Maldives, and Vietnam, where Trump-branded hotels, golf courses, or licensing projects were approved or expanded in 2025. In some cases, local regulatory hurdles were reportedly eased. In Serbia, a Trump-linked hotel proposal was withdrawn following public opposition. South Korea and Gulf states were also cited in relation to data centre and AI investments involving firms connected to Trump allies.
The report outlined five broad sectors linked to the Trump family’s global business network: crypto ventures managed by Trump and his sons alongside close associates; real estate and brand licensing overseen by the Trump Organization; AI and data-centre investments involving Trump-linked financiers; defence and technology contracts connected to companies associated with Donald Trump Jr.; and investment funds run by son-in-law Jared Kushner, which raised substantial capital from Gulf nations.
In addition, the investigation claimed that fundraising surged after Trump’s return to office, with roughly $2 billion raised for various political and affiliated funds. Of more than 300 major donors identified, the NYT reported that a significant number later benefited from administration decisions. The report also said several large donors accompanied Trump on overseas trips or attended private White House events.
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The White House has rejected the allegations, saying President Trump acts solely in the national interest and that donations or business activity by private individuals should not be viewed as improper. Critics, however, argue the overlap between foreign policy, fundraising, and family business growth risks undermining public trust.
The report is likely to intensify debate in Washington over ethics oversight, transparency, and safeguards surrounding presidential business interests during a second term.
Trump’s Second Term Raises Conflict-of-Interest Questions as Family Businesses Expand Abroad, NYT Report Says
Digital Desk
According to the report, Trump did not commit during his second campaign to restrict overseas business dealings by family members. Since returning to office, enterprises linked to the Trump family have reportedly expanded beyond real estate into sectors such as cryptocurrency, artificial intelligence, data centres, and defence-linked technology—often in regions that also feature prominently in US diplomatic or commercial engagements.
The investigation claims that Trump-branded real estate projects advanced in several countries after high-level diplomatic interactions or policy decisions by the administration. In Saudi Arabia and Qatar, Trump-linked developments reportedly moved forward alongside security discussions and government-backed investments. In the UAE, approval for the sale of advanced US chips in 2025 coincided with large purchases of crypto assets issued by a Trump-associated firm, generating significant profits, the report said.
The NYT further noted business activity in Albania, Oman, the Maldives, and Vietnam, where Trump-branded hotels, golf courses, or licensing projects were approved or expanded in 2025. In some cases, local regulatory hurdles were reportedly eased. In Serbia, a Trump-linked hotel proposal was withdrawn following public opposition. South Korea and Gulf states were also cited in relation to data centre and AI investments involving firms connected to Trump allies.
The report outlined five broad sectors linked to the Trump family’s global business network: crypto ventures managed by Trump and his sons alongside close associates; real estate and brand licensing overseen by the Trump Organization; AI and data-centre investments involving Trump-linked financiers; defence and technology contracts connected to companies associated with Donald Trump Jr.; and investment funds run by son-in-law Jared Kushner, which raised substantial capital from Gulf nations.
In addition, the investigation claimed that fundraising surged after Trump’s return to office, with roughly $2 billion raised for various political and affiliated funds. Of more than 300 major donors identified, the NYT reported that a significant number later benefited from administration decisions. The report also said several large donors accompanied Trump on overseas trips or attended private White House events.
The White House has rejected the allegations, saying President Trump acts solely in the national interest and that donations or business activity by private individuals should not be viewed as improper. Critics, however, argue the overlap between foreign policy, fundraising, and family business growth risks undermining public trust.
The report is likely to intensify debate in Washington over ethics oversight, transparency, and safeguards surrounding presidential business interests during a second term.
