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US President Donald Trump has defended his stake in World Liberty Financial, saying his sons run the company without his involvement. During a November 8 CBS "60 Minutes" interview at the White House, he rejected calls to sell his interest amid questions about foreign investors. The interview followed Democratic victories in the US midterm elections.
The questions centered on a reported USD 500 million investment by an Abu Dhabi group linked to a senior United Arab Emirates official. Trump acknowledged that he remains a co-owner of the crypto venture. He said the presidency should not stop their work.
Interviewer Ross Douthat asked whether Trump would view similar foreign investment in a company owned by former President Joe Biden as corrupt. Trump replied, "Because I know nothing about it." He said Wall Street firms manage much of his wealth through index funds, without his involvement.
Douthat then asked why Trump could not sell his own stake while allowing his sons to continue running the company. Trump said his sons ran businesses before his return to office. He said it was hard to tell them, "Don't do anything anymore for four years because I'm president."
The interviewer pressed Trump on whether overseas investors might believe that buying into his company offered access to the US government. Trump did not say whether investors held that belief. Instead, he maintained that conflicts involving people connected to presidents were not unusual, saying, "This is true for every president."
The company's foreign links have drawn attention following reports that an investment vehicle associated with UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan agreed to acquire 49% of World Liberty Financial for USD 500 million. Eric Trump signed the agreement shortly before the January 2025 inauguration. The transaction prompted questions about foreign influence on US policy.
World Liberty Financial's website states that a Trump family-affiliated entity holds roughly 38% of the company through its ownership structure. The entity also has rights to part of the proceeds from WLFI token sales. However, the company says Trump and his relatives do not serve as officers or employees of its operating businesses.
The connections extend to a planned crypto bank. In August, the Office of the Comptroller of the Currency granted World Liberty Trust Company preliminary conditional approval for a national trust bank charter. The company intends to support its USD1 stablecoin, but it must satisfy regulatory conditions before opening.
Trump's comments came after Democrats secured control of the House and Senate in the November 3 elections. The changes will give Democratic committee leaders authority to hold hearings and request records when Congress convenes in January 2027. They have already raised questions about the Trump family's crypto income and foreign partnerships.
Senator Elizabeth Warren and other Democrats have sought examination of the UAE investment and US policy decisions. In July, Democratic senators cited financial disclosures showing about USD 1.4 billion in income from Trump family crypto ventures during the first year of his second term. The figures do not establish wrongdoing.
Representative Robert Garcia, who is set to lead the House Oversight Committee has indicated that investigations involving the Trump family will be among his priorities. His committee said on November 3 that he would chair it after Democrats take control. Congress has not yet released findings from those planned inquiries.
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