Trump's Massive Profits Set a New, Troubling Global Precedent
Financial reports indicate that US President Donald Trump recorded an unprecedented income for a leader of a liberal democracy. In his first year back in the White House, Trump reportedly earned at least US$2.2 billion (approximately Rp35.8 trillion), with a significant US$1.4 billion (approximately Rp25 trillion) contribution coming from his family’s cryptocurrency business.
This staggering figure eclipses the wealth profiles of any modern Western leader while in office. The phenomenon has drawn comparisons to the late Silvio Berlusconi, the former Italian Prime Minister known for media dominance and legislative manoeuvres that benefited his business empire. However, experts suggest the scale of Trump’s profits places him in a different category, one more akin to leaders often associated with authoritarian systems.
The massive gains from the crypto sector are a crucial point of contention. As president, Trump holds the authority to oversee regulations for an industry that directly provides enormous financial benefits to his family’s business. Despite this, the White House has denied any conflict of interest, and Trump himself has asserted that he is not involved in the day-to-day financial management.
Legally, Trump is exempt from laws requiring senior US officials to divest stock holdings that could pose a conflict of interest. Nevertheless, anti-corruption experts are concerned about the moral implications and the impact on international norms. Experts note that increasing political polarisation makes it easier for leaders to evade accountability. In a divided society, voters tend to view accusations of corruption or conflicts of interest as mere political attacks rather than legitimate ethical issues.
Fernando Jiménez Sánchez, a political scientist from the University of Murcia in Spain, stated that the United States, which has been the global standard for anti-corruption norms since the Watergate era, is now setting a new standard that risks undermining democratic safeguards worldwide. “This is what has been lost,” Sánchez concluded, referring to the disappearance of the ethical standards that should serve as a shared aspiration for world leaders.