Trump Family Profits Amid Financial Turmoil

Trump Family Fundraising Weekend Amid Financial Turmoil

As President Trump boarded Air Force One en route to Florida on Thursday, a significant downturn was unraveling in the financial markets. His visit was twofold: attending a Saudi-backed golf tournament at his family’s Miami resort and participating in a series of fundraisers at his Palm Beach club, drawing in hundreds of donors. This event underscored Mr. Trump’s ongoing ability to channel business towards his family-owned real estate ventures, a practice he has maintained even as global financial instability looms.

The financial frenzy kicked off Thursday night, with crowds gathering at both the Trump National Doral resort, located near Miami International Airport, and his Mar-a-Lago property, situated approximately 70 miles away up the coast. Trump arrived via military helicopter, making a timely entrance for a dinner at Doral, just before LIV Golf, the Saudi Arabia-backed league, was set to host its fourth tournament at the venue.

At Mar-a-Lago that same evening, an American Patriots Gala took place, attended by hundreds, including special guests like Homeland Security Secretary Kristi Noem and newly inaugurated Argentine President Javier Milei. Unbeknownst to Milei, Trump was effectively double-booked across his various properties that evening.

The excitement of the gala was just the beginning. On Wednesday, Mr. Trump had signed a new set of global tariffs from the White House, using his famed Sharpie pen—an item now available in the Mar-a-Lago gift shop for $3. This tariff announcement led to one of the most substantial market crashes in American history, wiping out $5 trillion in value from S&P 500 companies in merely 48 hours. While Trump proclaimed that such policies would rectify what he views as unfair trade practices, he expressed optimism that the markets would ultimately rebound.

As the markets faltered, thousands of golf enthusiasts flocked to the Doral for the tournament on Friday. Among the attendees were Eric Trump, Mr. Trump’s son, and Yasir Al-Rumayyan, governor of Saudi Arabia’s $925 billion sovereign wealth fund and chairman of LIV Golf, who staunchly supported the league’s mission.

"It is a nice club," Al-Rumayyan remarked while observing the golfing action from the course.

The LIV Golf event has been characterized as a vibrant festival, where music pulsated through loudspeakers and refreshments flowed aplenty, allowing attendees to marvel at the golf while engaging in a lively atmosphere. Despite the economic upheaval nationwide, the event’s ambiance was far from somber.

Matt Rogers, a LIV Golf announcer, roused the crowd with infectious energy, urging attendees to embrace the lively spirit: "You all look a little too stiff! You need to turn this up! This is LIV Golf!"

Amidst this excitement, every room at Trump Doral was reportedly booked for the weekend—including the opulent $13,000-per-night presidential suite—with no vacancies at the BLT Prime steakhouse. Eric Trump echoed the sentiment of the weekend by stating, "This is the perfect venue," while accompanying his father from the helicopter to dinner.

Friday was particularly eventful as Trump spent much of the day at yet another family-owned venue—Trump International Golf Club— where he actively promoted a message via social media, declaring, “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE.”

The attention soon circled back to Mar-a-Lago Friday night, where Trump hosted another extravagant fundraising dinner, charging attendees $1 million each. Since his election, Trump has orchestrated several high-profile fundraisers at his private club, raising millions in a matter of hours. Gatherings typically culminate with Trump engaging in discourse with attendees, effortlessly converting an evening into significant financial support for his political ambitions.

Notably, past attendees of these exclusive dinners have included prominent figures such as casino magnate Miriam Adelson and high-ranking executive representatives from Lockheed Martin and other influential sectors. The dynamic fundraising has raised eyebrows among Republicans, as no former president has amassed such an extensive war chest for a super PAC while ineligible to run for re-election.

Some of Trump’s close allies argue that seizing available funds is prudent, especially considering the eagerness of corporate and political entities to mend fences after perceived transgressions.

The scene inside the two Trump venues offered a stark contrast to the turbulence on Wall Street. The impressive influx of lobbyists, lawmakers, and international dignitaries previously observed at Trump’s Washington hotel reappeared, this time at Doral and Mar-a-Lago.

Sponsorships of the Doral golf tournament included major corporations, notably Aramco, the Saudi oil giant, and Riyadh Air, showcasing the level of investment in this high-stakes event.

Throughout the course of the weekend, Trump’s merchandise outlets at Doral thrived, selling an array of items, from a $550 crystal-studded handbag to a mere $18 paperweight sourced from China. Patrons reported traveling from various parts of the globe, ready to shell out as much as $1,400 for exclusive access, as nearly all tickets were claimed by that Saturday.

Amidst the luxurious festivities, attendees expressed indifference to the stark economic reality unfolding outside. "The sky is falling every day," noted Mike Atwell, a local restaurant owner, highlighting a prevailing attitude—the desire to celebrate, regardless of external circumstances.

On Saturday, Trump continued his golfing activities at another one of his family courses, while supporters received an email solicitation, offering them a signed replica of his executive order to rename the Gulf of Mexico to the Gulf of America—a modest contribution opportunity with a minimum of $50 to join his alleged ‘piece of history’ campaign.

As the weekend unfolded, it was evident that for the Trump family, the blend of business and politics remained as strong as ever, regardless of the financial storms brewing beyond their oceanfront properties.