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Trump's sons orchestrate secret $3 billion payday thanks to dad's policies: report

Donald Trump Jr. and Eric Trump have quietly raked in billions as the Pentagon has invested in new defense technology, according to a new Washington Post investigation published Monday.

President Donald Trump's sons have made significant investments in military-related startups, "further entangling the United States’ interests and the Trump family’s financial fortunes in an area with immense stakes for national security," The Post reported.

Many of these financial investments have come as Trump returned to the White House.

"The companies have collectively generated at least $3.2 billion in direct government business since the sons invested and an additional $3.1 billion in future contract options," according to The Post. "Some have gained coveted spots on shortlists of preapproved contractors that can bid exclusively on up to nearly $200 billion in future work."

A top priority for Trump's second administration has been focusing on national security and "modernizing the tools of warfighting." And the Trump sons have reportedly cashed in on this Pentagon initiative by building a portfolio focused on this spending priority.

"The Trump sons are part of investment groups that have poured money into established government contractors, such as SpaceX and Anduril, as well as lesser-known start-ups aspiring to build a new generation of nimble, tech-forward weaponry — from drones to humanoid robots that can either mow a lawn or use deadly force," The Post reported. "Most of the firms are in the defense industry, but some focus on products not meant for the battlefield: One company is partnering with the luxury fashion label Prada to design spacesuits, and another is trying to build quantum computers."

Before they sought Pentagon and defense contracts, neither Trump son had notable experience in the defense tech industry. They do not hold any government titles and are currently the vice presidents of the Trump Organization. The White House has denied any inappropriate conduct surrounding the sons' investments or potential conflicts of interest.

"Trump’s sons have described their investments in patriotic terms," according to The Post. "Eric Trump has said the U.S. 'better be winning' the AI race. Trump Jr. has repeatedly argued that the U.S. should be developing an industrial base that can crank out drones to meet potential threats from China."

Political analysts reacted to the explosive new report.

"How fortunate for these two that Daddy can pardon them on the way out the door. Those around them may be less fortunate," Joyce Vance, a former U.S. attorney appointed by former President Barack Obama, wrote on X.

"Trump Jr. & Eric Trump now have investments in over a dozen defense tech companies. Thanks to the nature of defense tech companies, their only real viability is if they can get gov contracts, & guess what! Turns out it is pretty easy to get gov contracts when your dad is the most corrupt president in history," the account They Call Me Gary, a progressive political commentator, wrote on Bluesky.

'Mark my words': GOP strategist's 2028 Vance prediction comes with a Trump-sized twist

An ex-Republican strategist is certain that JD Vance will run for president in 2028 with a "Trump on the ticket."

During an episode of The Bulwark Podcast, former top GOP strategist Stuart Stevens made it clear that he expects "JD Vance is going to be the nominee" on the Republican side for president in the 2028 race. However, he added one more prediction.

"Mark my words," Stevens said. "He's going to pick a Trump on the ticket, a Trump family member. Either Ivanka or, you know, depending on who's in and out of rehab, one of the sons."

Host Tim Miller added, Eric Trump is "a sleeper on that front," and "I love that prediction."

Stevens went on to explain that adding a Trump family member to the presidential ticket is the only way that Vance is going to get Trump's thumbs-up on his White House run, as well as the kind of funding that helped Trump win his last campaign.

"It's the only way that Trump will support the ticket," Stevens said. "And you could say last time they needed Elon Musk's millions. So now the kids are making, you know, billions, so we don't need that weirdo Elon. We can just, you know, do it ourselves."

Stevens talked about how "Donald Trump tortures JD Vance" by having him go after the Pope and defend foreign wars. Stevens found it "amusing" but "tragic and existentially threatening," and said that's why he's certain Vance will be the GOP nominee.

"One of the two JD Vance things is no foreign wars. So, okay, we're going to have a foreign war. Go defend it," Stevens said. "So JD does, and [Trump] goes, 'All right, how about this? I'm gonna attack the Pope. You gonna say anything about that?' JD's like, 'Nah, that's cool, dude.'"

'Wait what?' Onlookers recoil from Trump's bizarre family 'threesome' remarks

Trump left onlookers recoiling after he made bizarre remarks about a "threesome" with his sons.

During a speech at the opening of the Theodore Roosevelt Presidential Library in North Dakota on Wednesday, Trump made a few odd and head-turning statements, including that he spoke with the long-deceased Roosevelt.

One of Trump's remarks that left people shocked started with him talking about generals Arthur and Douglas MacArthur, and wanting to be part of a father-son duo that has won the Medal of Honor.

"As I see my two beautiful sons sitting there, I think I'm going to give one to myself, one to them," Trump said, with Don Jr. and Eric Trump in the audience. "And we'll have a threesome."

Trump's strange phrasing attracted online criticism and mockery, especially as Trump smiled during the remark and drew out the last line.

The X account for the press office of New York Governor Kathy Hochul asked, "A WHAT??"

"Wait what?" disability advocate James Tate similarly reacted.

"Alright, brother...hang up those cleats," wrote Capitol Hill reporter Julian Andreone.

"Okay, we knew about Ivanka but this is too much," posted Canadian political commentator Jim Stewartson, referring to similar disturbing comments Trump has made about his daughter.

"Even worse when you realize he was using a teleprompter," noted political commentator Hemant Mehta.

Political activist Melanie D'Arrigo posted "Most Corrupt President" next to "Most Embarrassing President" with a shaking hands emoji between them and "Donald Trump" below it, suggesting that Trump is a marriage between those two dubious titles.

'I'm sorry, what?' Ex-GOP rep gobsmacked by fine print for Trump's gold phone

An ex-GOP congressman couldn't believe what he heard when learning about the Trump family's gold "Made in USA" phone that's starting to sound like it could be a scam.

"Company executives confirmed the phone would actually be manufactured overseas with only the final assembly of about 10 components happening in Miami," Adam Kinzinger, a former GOP lawmaker and outspoken Trump critic, said in a video he posted on X on Tuesday.

Kinzinger was talking about Eric and Donald Trump Jr.'s venture to sell a gold Trump phone, the T1, which was marketed as made and manufactured in the United States with wireless service from Trump Mobile. The two sons collected an estimated $59 million in deposits from an estimated 590,000 buyers — figures that Trump Mobile executives have refused to confirm. As of this month, not a single confirmed customer has received the device.

"Trump Mobile quietly updated the fine print on its pre-order page to say the $100 deposit doesn't guarantee that a device will be produced or made available for purchase," Kinzinger said. "I'm sorry, what?"

On top of that, "industry analysts have since identified the likely manufacturer as Wingtech," a Chinese company, Kinzinger said. Analysts at Creative Strategies identified the T1 as likely a reskinned version of the Wingtech Revvl 7 Pro 5G, a device already sold by T-Mobile in the United States, at roughly a third of the Trump phone's $499 price tag.

Kinzinger pointed out that the "made in USA language quietly disappeared from the website" that promotes the phone, and was replaced "with vague phrases like 'designed with American values.'"

Democratic senators, including Elizabeth Warren, have called on the FTC to investigate the venture for alleged "bait-and-switch tactics" and false advertising over the "Made in USA" claim. The FTC has not confirmed whether an investigation has been opened. Trump Mobile says deposits are refundable on request, though the updated terms also give the company the right to cancel the device entirely and refund only the original deposit amount.

While some government agencies have been slow to investigate, Kinzinger said to "watch the customer base because the people who paid for a gold Trump phone are among the most loyal supporters this president has, and he's just openly and shamelessly ripping them off."

This Trump grift has rotted through our government. It must bring a reckoning soon

On Tuesday night in the State of the Union, we watched the most corrupt president (and presidency) in the history of America lie his way through a fascist-friendly speech. He didn’t mention how rich he’s made himself and his kids off the presidency, as he tried to paint in a good light what is, frankly, the most dishonorable, unprincipled, and criminal regime in the history of the free world.

Rumors have been flying for years — ever since Rudy Giuliani apparently confessed during Trump’s first term he and Trump were selling pardons for $2 million each and splitting the money — that Trump is at it again, taking what look like bribes for everything from pardons to business deals to regulatory and tariff relief. And the evidence is piling up in ways that are unmistakable.

For example, Judd Legum’s Popular Info news site is reporting that the parent company of crypto.com has made a series of “donations” to Trump’s main SuperPAC, MAGA Inc., amounting to $35 million.

That SuperPAC has already paid tens of millions for Trump’s legal fees, apparently including personal defense lawyers and business deal lawyers, and can hang onto that money to support Trump’s lavish lifestyle once he leaves office.

Shortly after the last donation, as Legum reports:

“25 days later, on February 17, the Trump administration’s Commodities Futures Trading Commission (CFTC), intervened on Crypto.com’s behalf in high-stakes lawsuit in federal court.”

But that’s just the tip of this particular iceberg. Crypto.com also runs prediction markets, the slick new way to get around laws regulating gambling, and recently cut a deal with Trump’s media company (which owns and runs his Truth Social site that’s so badly Nazi-infested and whose majority stockholder is Trump himself) to offer prediction market products through Truth Social or the company that owns it.

Then there’s the report from The New York Times that lays out how the United Arab Emirates (UAE) desperately wanted to buy super-high-tech chips from the US to kick-start their move from being a petrostate into becoming the Silicon Valley of the Middle East. The only problem was that they have a military cooperation agreement with China, and the US was concerned that they’d funnel some of the chips to that country.

So, the UAE “invested” $500 million in Trump’s new crypto scheme. As the Times laid out:

“An investment firm tied to the United Arab Emirates purchased nearly half of the Trump family’s cryptocurrency company last year, making the family business partners with the U.A.E. even as President Trump negotiated foreign policy matters with the Middle Eastern nation …

“At the same time that the crypto deal came together, the Emirati government secured an agreement with the Trump administration for the export of hundreds of thousands of advanced chips to power A.I. technology.”

Similarly, after Trump and his son-in-law Jared Kushner backed the Saudi‑UAE blockade of Qatar and defended the crown prince after the Khashoggi killing, the Saudi’s gave Kushner $2 billion to fund his investment firm. No droids in that car!

Not to mention the millions that the Saudi’s gave Trump’s tacky golf motels to put on their LIV Golf Tournaments. Or the millions he makes by forcing the Secret Service to pay to follow him to his golf courses and Mar-a-Lago, along with a regular army of foreign governments and corporations seeking favors, as CREW just exposed.

Or when Ivanka Trump was the “senior White House advisor” as she and her father were managing a trade and tech confrontation with China and that government “gave” her at least 34 Chinese trademarks worth millions.

Immediately thereafter, Trump suddenly reversed course to “save” Chinese telecom giant ZTE and later moved to ease pressure on Huawei via temporary licenses, despite U.S. national‑security warnings. She and her husband reportedly made as much as $640 million during their time exploiting the White House in Trump’s first term.

Trump’s boys are opening Trump-branded hotel/golf deals all over the world in countries that have had contentious relationships with the United States, mostly because of authoritarianism and corruption, with hundreds of millions to billions of dollars flowing into the Trump family’s money bin.

They include: India, Indonesia, Oman, Vietnam, Romania, Bali (Indonesia), Maldives, Qatar, and Saudi Arabia. Or all other the corrupt “deals” making Trump’s two oldest sons mindbogglingly rich that Liz Dye documents.

And, of course, it works both ways. When Pam Bondi was Florida Attorney General, her office opened an investigation on behalf of Floridians who’d been ripped off by Trump’s scam Trump University. Trump had his fake charity — which was later closed down for fraud — write her campaign an illegal $25,000 check and suddenly the investigation vanished.

And then there’s Trump’s pardon pipeline.

Consider Changpeng Zhao, the billionaire founder of Binance. Zhao pleaded guilty to violating U.S. anti-money-laundering laws, agreed to massive financial penalties, but was thrown into prison nonetheless. Not long after, Trump granted him clemency as Binance worked out a $2 billion stablecoin deal anchored in a Trump entity.

Or take Ross Ulbricht, the Silk Road operator serving a life sentence. Ulbricht ran what was allegedly the world’s largest hub for trading in illegal guns, narcotics, and human trafficking. Nonetheless, Trump gave him a pardon, stunning the legal world.

Other recipients have included well-connected political allies and donors, such as former Las Vegas council member Michele Fiore — convicted of wire fraud — whose sentence was vacated despite a jury verdict, and extremist figures like Enrique Tarrio, the leader of the Proud Boys pardoned after participating in the January 6 insurrection.

Even British billionaire Joe Lewis was pardoned for insider-trading convictions, again showing how Trump’s clemency has disproportionately flowed to the wealthy and well-connected.

None of this should surprise Americans; a jury of his peers found Trump’s little personal corporation guilty of felony tax fraud and fined it over a half-billion dollars (which apparently has yet to be paid). And he was personally convicted of 34 felonies involving falsification of business documents in a successful effort to rig the 2016 election by preventing the public from learning of his relationship with Stormy Daniels.

Since his inauguration just 14 months ago, Trump’s personal wealth has increased by an estimated $4 billion. Not bad for a guy who could have been headed to prison if he hadn’t gotten elected president. After all, both Brazil and South Korea just gave their former presidents long prison terms for trying to pull off what Trump tried to do on Jan. 6, 2021.

This is the most corrupt administration in the history of America, with Trump following Vladimir Putin’s formula for becoming wildly rich step-by-step. And somehow Fox “News” and the rightwing echo chamber never seem to report on any of it…

Trump is about to do to Miami what he has done to the rest of America

In New York, they brag about Broadway and the Metropolitan Museum of Art.

In Chicago, it’s Millennium Park and Frank Lloyd Wright buildings.

Arizona has the Grand Canyon; Colorado has the Rockies; New Mexico has Area 51.

Very nice, I’m sure.

Still, none of them can hold a chlorine-scented candle to Florida, home of the Waste Pro Garbage Truck Museum; the Bike-Riding Parrots of Sarasota Jungle Gardens; Big Betsy, Islamorada’s 30-foot high spiny lobster; not to mention the Beach Tomb of Morris the Cat in Gulfport or any of our other awesome contributions to culture.

Nobody’s ever seen anything like them.

But our state will soon have an even more important attraction.

Lordly. Majestic. Certain to be clad in 24 karat gold.

I speak, naturally, of the Trump Presidential Library Hotel and Massage Parlor soon to be built in Miami.

Nobody’s ever seen anything like it.

Miami Dade College had some land sitting there on its Wolfson campus and, instead of doing something stupid with it like make a park or a cultural center or housing for students or whatever, MDC’s Board of Trustees voted to give the land — worth a paltry $200-$300 million — to the state.

They voted in secret, with no public comment and no community input, but who could possibly object to such a stable genius project?

The state will, in turn, give it to the Trump Presidential Library Foundation, which means the place will be controlled by the Trump family.

“President Trump has a great story to tell as a Florida resident,” says state Attorney General and swashbuckling scofflaw James Uthmeier. “I think it’s quite fitting that we house it … as Miami becomes kind of the capital of the world in many respects.”

New York, Mumbai, Beijing, London, Paris — y’all just shut up.

Suggestions that Gov. Ron DeSantis and the Florida Cabinet members may aspire to higher office in the near future, and know they’d be wise to court Donald Trump’s favor, are unfair.

AG Uthmeier has just been endorsed by the president, but that’s because he’s the greatest. Nobody’s ever seen anybody like him.

Trump DNA

Second Son Eric Trump posted on social media (where woke rules of grammar, punctuation, syntax, and other boring so-called aspects of “English usage” totally do not apply): “Consistent with our families DNA, this will be one of the most beautiful buildings ever built, an icon on the Miami skyline.”

As we all know, Eric Trump is a brilliant and totally ethical businessman, and the Trumps have the most exquisite taste. Just look at what his father has done with the Oval Office.

Who knew you could get such gorgeous carved onlays from Home Depot!

It is true the parcel of land is a bit small, only 2.63 acres, especially compared to Lyndon Johnson’s 30 acres in Austin, Texas, or the Jimmy Carter Presidential Library’s 37 acres in Atlanta, Georgia.

So what? Size does not matter and small can be beautiful: Look at the president’s hands!

You build tall, tall like the president himself, who is at least 6ft 5. Maybe six.

How about 100 stories? That will beat the Panorama Tower, which everybody knows is not that beautiful.

The science nerds and climate change alarmists will tell you that since average elevation in Miami is two yards above sea level, and the site is pretty much on Biscayne Bay and about 300 feet from the Miami River, there’s a big danger of flooding.

Also, hurricanes.

No big deal. They can put the “library” part of the library lower down — that’s just books and paper and stuff — and the hotel and massage parlor — the important parts — on higher floors.

It’ll be a glittering palace on Biscayne, visible from space!

Just kidding about letting it flood. We’ll want to protect the priceless artifacts of America’s Golden Age.

Treasures such as the president’s collection of photo-shopped Time Magazine covers, the famous shoe with the piece of toilet paper stuck to the bottom of it, his hurricane-bending sharpies, his special copy of the Epstein “Birthday Book,” his diamond-studded ketchup bottle, and that world-famous 20-foot red necktie.

Sure, there are nay-sayers, carpers, whiners, complainers, boo-birds, and other losers making noise.

Miami Dade College President Emeritus Eduardo Padrón, a guy who obviously doesn’t understand the great honor being accorded MDC, says it’s “frankly unimaginable” this decision was made “without any real discussion of the consequences of what that will do to the college.”

A bunch of busybody pollsters have found that 74 percent of Miami-Dade residents want the college to keep the land.

Dr. Marvin Dunn, a professor of psychology at FIU, has filed a lawsuit on the ground that Miami Dade College state violated Florida’s Sunshine laws.

The suit claims the public notice posted by the MDC board did not say they would talk about giving away taxpayer-funded property, but just said they’d “discuss potential real estate transactions.”

Picky, picky, picky.

That Dunn guy is such a troublemaker, always going around telling people about Black history and whatnot, just to make them sad.

Now you’ve got a bunch of fuss bunnies banging on about how the Trump library/hotel/massage parlor site is next to Miami’s Freedom Tower, which some of those never-satisfied Cubans see as sacred or something.

‘Ellis Island of the South’

Yeah, it’s the “Ellis Island of the South,” the place Cubans who ran from the communists in 1959 went to get papers and medical care, learn English, and receive help settling in Miami, where they began taking over, speaking a foreign language, insisting white people eat Ropa Vieja and drink good coffee, and attacking the integrity of American tooth enamel with their lethal Tres Leches cakes.

Some of them actually protested on the future site of what Eric Trump so rightly calls “the greatest Presidential Library ever built, honoring the greatest President our Nation has ever known.”

Tessa Petit, who runs some wild lib outfit called the Florida Immigrant Coalition, says “it’s ridiculous they’re putting a library of someone who represents everything that is contrary to freedom, someone who’s making it his mission to destroy immigrant families, next to the Freedom Tower.”

One woman, whose family left Cuba in the early 1960s, said she’s against it because the president has “a track record of destroying civic engagement and only supporting those world views that are in alignment with his own.”

Another Cuban-born radical named Yousi Mazpule, a Miami Dade College professor, calls it “a slap in the face,” telling WLRN she objects to the library/tower/massage parlor “being put right next to the Freedom Tower where so many Cubans ran from a dictator.”

That’s gratitude for you — after all the president has done for Cubans!

A bunch of them are currently getting free room and board in federal detention centers.

The Trump administration has revoked so-called “temporary humanitarian parole” for about 300,000.

Our dedicated Homeland Security Secretary Kristi Noem explains that Cuba, like Nicaragua, Afghanistan, Haiti, and Venezuela, are now perfectly safe, really nice places that probably have great malls.

Yes, the Cubans used to be welcome as refugees from communism, but that was before Kristi Noem was born, so she’s never heard about it and it doesn’t matter.

Now they qualify for a free trip home to Havana and, if ICE won’t let them take their small children or spouses, and they have to fly back wearing shackles, well, that what they get for being, like, foreign.

In the meantime, the Trump Freedom Tower Biscayne Hotel, Library, and Massage Parlor will draw crowds of pilgrims from all over the world, from Idaho to Oklahoma, to stay in one of its luxurious MAGA suites and worship at his shrine, drawn in like bugs to a glue trap.

Florida should be proud.

'Not good ganja!' Ex-RNC chair warns against Eric Trump presidency

Michael Steele, the former chair of the Republican National Committee and current MSNBC host, referenced marijuana when asked about Eric Trump's political ambitions.

Chris Jansing began Monday, "So, Michael, there is so much confidence in the power of Trump and the Trump name, his son Eric's interview with the Financial Times ignited talk of a potential Trump dynasty."

Jansing read a portion of the report where Eric Trump claimed that "the political path" for a family dynasty "would be an easy one," opening the door for another Trump to seek office after his father leaves the White House.

"'I think I could do it," Jansing read Eric's words. "And by the way, I think other members of our family could do it, too."

Eric Trump's wife, Lara, who hosts a show on Fox News after a brief stint as head of the RNC, could make that dynasty a reality. Rumors have swirled that she'll run for Sen. (R-NC) Tom Tillis's seat in next year's midtermelections, since he announced he won't run again.

Eric Trump "also said he's wholly unimpressed by half the politicians I see," Jansing read, with Eric adding, "I could do it very effectively."

"You know, if Americans are drunk on stupid, yeah, Eric Trump is your next president," Steele said. "Put that one in your pipe and smoke it. That's not some good ganja, let me tell you!"

Steele continued, sarcastically, "Sure, why not? You know, let's expand the grift. Let's widen the opportunity!"

He then got serious.

"Look, this is all unserious stuff," Steele remarked before talking about the impact a Trump dynasty would have on "real people."

"It's on the members of my party, the Republican Party, that have agreed to cut programs that they told the American people they would not cut, to expand the reach and the depth and breadth of dollars for to the benefit of those who are much, far wealthier than those red districts that they that they represent. And they will have to now look those voters in the eye, and they'll either continue to lie to them, and the voters will buy it, or they won't, and they'll unelect them. That's the politics of this."

Read the Financial Times article here.

'I could do it very effectively': Eric Trump boasts about his political future

In an interview released on Friday, Eric Trump predicted a Trump family dynasty in America's future and noted he could easily slide into the role of a lawmaker.

Speaking with Alex Rogers of the Financial Times, Donald Trump's middle son, who has been frequently mocked on Saturday Night Live as intellectually diminished, claimed he sees a path for members of the Trump family to make a career in politics on the heels of his father being elected president twice.

According to Eric Trump, the path "Would be an easy one," and then added, "The real question is: ‘Do you want to drag other members of your family into it?'"

“Would I want my kids to live the same experience over the last decade that I’ve lived?" he continued. "You know, if the answer was yes, I think the political path would be an easy one, meaning, I think I could do it. And by the way, I think other members of our family could do it too.”

As for his own political aspirations, he stated he is not a fan of a lot of lawmakers and thinks he can do better.

The report notes, "Eric Trump described himself as 'wholly unimpressed by half the politicians I see . . . I could do it very effectively," before he added, "The question is, do you want to do it? And do you want to subject the people that you love to the brutality of this system? And I’m not sure if I can answer that question yet.”

You can read more here -- subscription is required.

Ex-Trump insider turns the tables on president's sons over their 'major grift'

Donald Trump's sons are in on a "major grift" directly comparable to the one they accused Hunter Biden of, according to a former member of the Trump inner circle.

Former adviser to Trump, Omarosa Manigault Newman, appeared on MSNBC over the weekend to discuss a variety of developments in the Trump universe.

At one point, the host asked her about Donald Trump Jr. and Eric Trump, and their big crypto deals that are seeing them rake in cash.

EXCLUSIVE: Trump accused of new grift that puts Qatari plane in shade

"Watching what Don and Eric are doing in the crypto space, I mean, it's just after we heard so much and their complaints about Hunter, Hunter, Hunter Biden and how Hunter leveraged his father's presidency to make all of this money, we see that they're not reluctant in any way to utilize and leverage their father's presidency to put more money in their pocket," she said. "That's what you're seeing is this major grift on their behalf, and they are completely erasing the boundaries that traditionally were set for families and what they did while parents were in the Oval Office."

She added an ominous prediction, saying, "You're going to see more of this. Remember, we're only about six months into the Trump presidency."

Watch below or click the link.

Trump official rakes in $280M tax free with 'ethics agreement': report

President Donald Trump's commerce secretary Howard Lutnick is emulating his boss by transferring away "his ownership interests in multiple affiliated companies" to trusts that will benefit his adult children, The Wall Street Journal reported Monday.

Lutnick, a billionaire, served as chairman and chief executive of financial-services firm Cantor Fitzgerald until he was appointed to Trump's cabinet in February.

In keeping with "a government ethics agreement," Lutnick created the trusts to benefit sons Brandon Lutnick and Kyle Lutnick, "as well as Lutnick’s other adult children."

In addition, former Cantor Fitzgerald affiliates "agreed to buy back more than 16.4 million shares of its stock from Lutnick," leaving him $151.5 million richer.

Add to that $127 million from real-estate adviser Newmark Group, which agreed to buy back 11 million shares from Lutnick, the company's former executive chairman.

EXCLUSIVE: Trump accused of new grift that puts Qatari plane in shade

"Lutnick won’t have to pay capital gains taxes on the sales as long as he puts the proceeds into Treasuries or a broadly based mutual fund — assets that don’t pose a conflict of interest," Bloomberg reported.

Brandon Lutnick, who serves as chief executive officer of Cantor Fitzgerald said in a statement, “Kyle and I are honored to continue building on our father’s legacy, leading Cantor Fitzgerald alongside the exceptional executive team we have in place today."

Donald Trump has come under fire for remaining in charge of his businesses despite transferring his assets to "a trust managed by his children while he is working overtime to lead the country to economic prosperity," according to a White House spokesperson.

The New York Times reported this month that sons Eric Trump and Donald Trump Jr. have raked in billions of dollars in recent deals that "directly benefit the president."

The deals include a luxury hotel in Dubai, a residential tower in Saudi Arabia, two cryptocurrency ventures, a new golf course complex in Qatar, and a new private club in Washington that "will personally benefit not only Eric Trump and Donald Trump Jr., but also President Trump himself," the Times reported.

Read The Wall Street Journal story here.