'Betrayed Americans': Schumer says Trump turned White House into family profit machine
WASHINGTON, DC: The Trump family’s widening wealth empire while he leads the country as the president has once again reignited the corruption allegations.
Senate Democratic Leader Chuck Schumer and several other Democrats, in a report on Monday, July 20, claimed that the Trump family “systematically turned the presidency” into a profit-making machine.
Democrat report describes Trump as most corrupt president
Schumer, along with his other colleagues, including Sens Sheldon Whitehouse (D-RI), Jeff Merkley (D-Ore), and Catherine Cortez Masto (D-Nev), released a report on Monday as part of a new “anti-corruption initiative” to expose what they described as Trump’s “rampant self-dealing.”
In the report, Democrats tried to link the staggering surge in the Trump family’s overall net worth since Trump assumed the presidential chair for the second term to the financial struggles of common Americans, allegedly caused by the president’s corruption.
“Trump is without question the most corrupt president in American history,” Schumer said in a statement.
“Trump has betrayed the American people by using our highest office not for the good of country, but to pad his own bank account, at the expense of working families.
“Senate Democrats are launching this effort to expose the corruption, show Americans exactly what it is costing them, and build the reforms needed to stop any president from using public office for personal profit,” he said.
‘Cost of corruption’ claims Trump made billions since second term
The report titled “The Cost of Corruption,” highlighted that President Trump himself made $2 billion since he returned to the Oval Office for his second tenure in 2025.
The report also alleges that the Trump family has exploited beneficial “ventures intractably linked to Trump’s presidential role” and made around $4 billion since 2025.
The report alleges that the Trump administration approved a billion-dollar tungsten mining deal with Kazakhstan, claiming Trump's sons hold a stake in the venture and stand to benefit financially.
It also claims Trump's sons profited from investments in a portfolio of defense technology startups that later secured $3.2 billion in government contracts.
Democrats, however, focused most heavily on the Trump family's cryptocurrency venture, World Liberty Financial. The report alleges the fund, backed by investments from the United Arab Emirates, has generated more than $1 billion in assets for the Trump family.
Senate Democrats form group to expose Trump’s corruption
Schumer announced that Senate Democrats have formed an “anti-corruption working group” to highlight Trump’s alleged self-dealing.
“The scale of President Trump’s corruption is mind-boggling, and it is directly responsible for the higher costs swamping American families,” Whitehouse, a member of the working group, said in a statement.
“Look no further than skyrocketing electricity and gas prices. Trump is sending energy bills through the roof by tanking lower-cost clean energy to keep dirty, expensive fossil fuels on the grid, and he’s giving Big Oil cover to jack up prices at the pump with his senseless war,” he added.
