NEWSLETTER: A new generation of Trump grifters

Donald Trump’s wealth has doubled since returning to the presidency. Has yours?

By Jesse Valentine - October 06, 2025

Want this newsletter in your inbox each week? Sign up here.

The president’s 18-year-old granddaughter launched a sweatshirt line last week with a glossy pictorial on the White House lawn. The $130 shirts are 20% polyester and embroidered with Kai Trump’s initials.

Hawking chintzy products is a Trump family tradition—and using government resources to do it is quickly becoming one. Earlier this year, Don Jr. and Eric netted $5 billion from a cryptocurrency they launched just as their father was weakening regulations on the industry. Barron raked in $40 million from his own crypto venture. Melania scored $40 million to produce a documentary for Amazon, a company eager to curry favor with the White House.

All of this perfectly fits the definition of kleptocracy: a system of governance where leaders use political power to line their pockets. Dozens of articles have been written about the Trump clan’s ballooning wealth, yet it is seldom discussed by Democrats. This is odd, given that 72% of voters ranked political corruption as a “serious problem” in a recent YouGov poll.

And it’s not just the Trumps. Last month, Treasury Secretary Scott Bessent flew to Madrid to negotiate a partial sale of TikTok to a consortium of Trump allies and donors, including Larry Ellison and Rupert Murdoch. It’s not clear if the deal even complies with the federal law that mandated TikTok’s sale, but it is clear that the very rich men involved stand to get even richer.

Meanwhile, grocery prices are up, consumer confidence is down, and 10 million Americans will soon lose Medicaid because of the Republican budget. Expiring Obamacare subsidies, which are at the heart of the current government shutdown fight, will triple health care costs for many families. More price hikes loom as Trump slaps tariffs on more goods.

If Democrats want to retake the House and Senate in 2026, I think they need to start asking voters a pertinent question: Trump’s wealth has more than doubled since returning to the White House—has yours?

This message must be coupled with a pledge to investigate these money grabs and hold bad actors accountable, including Trump’s adult children (and grandchildren). Surely the House Republicans who spent four years probing Hunter Biden will understand.

Not all Democrats have been silent on this issue. Sen. Elizabeth Warren, ever a guiding light for her party, has hammered this message on the regular.

“Donald Trump is only going to make one family better off financially, and that’s the Trump family,” Warren told MSNBC in May. “As for everybody else, Donald Trump couldn’t care less.”

ICYMI

Virginia will elect a new governor this November. Political observers will be watching the race as a potential bellwether for 2026.

Our contributor Bonnie Fuller spoke with Democratic candidate Abigail Spanberger about her plans if elected—from protecting Medicaid to lowering costs.

“The biggest issue I hear about in every corner of Virginia has been the issue of affordability,” Spanberger said. “At the state level, as governor, there’s not a lot I can do to impact grocery prices, but when it comes to the housing market, there’s a lot you can do.”

WATCH AN AD

New York City Mayor Eric Adams ended his reelection campaign this week, turning the city’s mayoral race into another head-to-head contest between Zohran Mamdani and Andrew Cuomo.

Mamdani has a strong lead in the polls, but his campaign is taking nothing for granted. It just rolled out a new Bachelor-themed ad that will run during the popular ABC reality show. The spot once again showcases the joyful, off-kilter humor that has defined his campaign.

Check it out !