'The Cost of Corruption': Senate Democrats Say Trump Family Made $6 Billion in Office
A report led by Schumer accuses the president of self-dealing on a historic scale, tying the family's soaring wealth to rising costs for ordinary Americans
Senate Democrats have released a report accusing US President Donald Trump and his relatives of exploiting the presidency for personal financial gain, arguing that the family’s soaring wealth has coincided with mounting economic pressure on ordinary American households, The Hill reported.
The document, titled “The Cost of Corruption,” was unveiled on Monday by Senate Democratic Leader Chuck Schumer alongside Senators Sheldon Whitehouse, Jeff Merkley, and Catherine Cortez Masto. It marks the launch of a broader Democratic “anti-corruption initiative” targeting what the party calls the president’s rampant self-dealing.
Billions in family profits
Citing Trump’s own financial disclosures, the report states that the president has personally earned $2 billion since the start of his second term in 2025, while his extended family has taken in more than $4 billion over the same period.
Among the ventures the Democrats single out is a billion-dollar tungsten mining agreement with Kazakhstan, in which Trump’s sons reportedly hold a financial stake, and investments by his sons in defence-technology startups that have collectively secured $3.2 billion in federal contracts. The report reserves its sharpest criticism for World Liberty Financial, the family’s cryptocurrency venture backed by investment from the United Arab Emirates: the Trump family holds more than $1 billion in assets tied to the fund, which Democrats describe as their most glaring example of the president using his office for profit.
Linking wealth to household costs
Schumer described Trump as “the most corrupt president in American history,” saying he had used his position to enrich himself at the expense of working families, and that the new effort aimed to expose the pattern and push reforms to stop future presidents from profiting off public office.
Whitehouse tied the family’s gains directly to household bills, arguing that the administration’s rollback of clean-energy initiatives in favour of fossil fuels had pushed up electricity and gas prices. Democrats further argued that the administration had prioritised enriching Trump, his family, and allied figures while scaling back consumer protections and social-safety-net programmes — pointing to cuts to Medicaid and the Supplemental Nutrition Assistance Program in last year’s tax and spending package, which they said helped offset permanent tax cuts for corporations.
A new working group
Merkley accused the family of using official connections to generate personal wealth “at every turn,” calling it a threat to democratic governance. Schumer confirmed that Senate Democrats had established a formal “anti-corruption working group” to continue investigating and publicising the administration’s financial dealings. Cortez Masto, along with Senators Alex Padilla and Andy Kim, will also serve on the panel, which Democrats say will be the central vehicle for their oversight efforts going forward.
Reference: Al-Mayadeen