A member of Abu Dhabi's royal family acquired a significant stake in the Trump family's cryptocurrency venture, World Liberty Financial, for $187 million. This investment coincided with a reversal in U.S. policy allowing the transfer of advanced AI chips to the emirate's firm, G42. The deal has raised concerns about potential conflicts of interest in the Trump administration.
The royal family of Abu Dhabi faced restrictions on acquiring American AI chips for their company, G42, due to fears from the Biden administration and Republican lawmakers that the technology might reach China. According to a Wall Street Journal report, this obstacle was addressed through an investment in the Trump family's business.
Sheikh Tahnoon bin Zayed Al Nahyan, known as the "Spy Sheikh," purchased a 49 percent share in World Liberty Financial last year, transferring $187 million to entities controlled by the Trump family. The firm was founded by Eric Trump, Donald Trump Jr., Barron Trump, and Donald Trump as a co-founder emeritus during the final phase of the 2024 presidential campaign. In the spring following the investment, the Trump administration approved the export of the AI chips to G42, reversing prior U.S. policy.
This marks the first confirmed case of a foreign government official buying a substantial stake in a Trump company after the 2024 election. The arrangement has prompted scrutiny over ethical standards for presidential family businesses.
World Liberty spokesperson David Wachsman defended the deal, stating, "The idea that, when raising capital, a privately held American company should be held to some unique standard that no other similar company would be held is both ridiculous and un-American." He added that Donald Trump and co-founder Steve Witkoff had no involvement in the transaction since taking office.
Deputy Attorney General Todd Blanche emphasized transparency, noting on ABC's This Week, "President Trump has been completely transparent when his family travels for business reasons. They don’t do so in secret." White House spokesperson Anna Kelly asserted, "President Trump only acts in the best interests of the American public. There are no conflicts of interest."
Critics highlight the contrast with past presidents, such as Jimmy Carter, who placed his business in a blind trust upon assuming office to avoid influencing policy. The investment remained undisclosed for over a year until revealed by the Journal, fueling debates on the separation between personal business and public duties.
