Trump family’s cash registers ring as financial meltdown plays out

MIiami -The collapse of the financial market was underway when President Donald Trump rose aboard the Air Force One while he went to Florida on Thursday for a sort of double head: a golf tournament supported Saudi at the Miami Resort of his family and a weekend of collections of funds that attracted hundreds of donors in his Palm Beach Club.

It was a new reminder that in his second term, Trump continued to find a way to guide business in his family -owned real estate initiatives, a practice that he also supported when his work in Washington caused financial turbulence all over the world.

The monetization weekend of the Trump family began on Thursday evening (time of the United States), when the crowd began to form both in the Trump National Doral Resort near the Miami International Airport and in its 110-kilometer Mar-A-Lago resort on the coast.

Trump has landed on the edge of one of the golf courses in a military helicopter just in time for dinner in Doral. The next day, Liv Golf, the professional championship on the run supported by the sovereign Wealth Fund of Saudi Arabia, had to organize a tournament on the field for the fourth time.

Thursday in Mar-A-Lago, hundreds of guests gathered for the American Patriots gala, a conservative fundraising that presented the national security secretary Kristi Noem and President Javier Milei of Argentina, who told his supporters at home who hoped to hope to recover Trump, apparently unaware that Trump had been in double booking to his family properties that night.

And that was only the advantage of the weekend.

Trump had ordered a new series of global rates on Wednesday from the White House using his Sharpie brand, a version of which is on sale in Mar-a-lago for $ US3.

The announcement unleashed one of the greatest market arrests in American history, Delete $ US5 trillion dollars ($ 8.3 trillion) of market value by the companies of the 500 in just two days. Trump said his policy would reverse what he calls unfair commercial practices and that in the end the “markets will boom”.

On Friday, while the markets continued to fall, thousands of golf enthusiasts visited Doral, as well as Eric Trump, son of Trump and Yasir al-Remayyan, governor of the sovereign fund from $ US925 billion dollars of Saudi Arabia. Al-Rumayyan is also the Liv Golf chair and was there to see its stars competing.

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“It’s a nice club,” said Al-Rumyyan as he walked for the golf course, looking at the players who went out.

Liv Golf-a adventure destined to lift the Saudi profile all over the world even if it is burned through hundreds of millions of dollars of state funds-is designed as a day party, with club music pumping out of the speakers of tournaments and machines that dispense wine and large beers. Friday, fans saw some golf and danced at the edges of the field. Others with sorceress hats walked to smoke cigars.

In short, economic turbulence seemed far away.

“You’re all a little too rigid!” Matt Rogers, a Golf presenter of Liv, screamed in a microphone, blowing his message through the Greens while the first group of golfers on Friday was preparing to play with the dance music blowing in the background. “You have to raise it! This is Liv Golf.”

Each room of the Trump Doral of 643 rooms, including the presidential suite from $ US13,000 per night, was exhausted during the weekend. It was not possible to find a place at the Blt Prime Steakhouse Bar, where a Porterhouse costs $ US130.

“This is the perfect place,” said Eric Trump while walking on the golf course on Friday.

He had led his father in a golf trolley from the military helicopter to the resort dinner the day before, while the celebrations during the big weekend in cash were starting.

The president spent a lot on Friday in another headquarters of Trump Family, Trump International Golf Club, not far from Mar-A-Lago, sending messages on social media during the day, including “This is a great time to become rich, richer than ever”.

On Friday evening, the center of attention had returned to Mar-A-Lago, while Trump kept another one in a series of 1 million dollar dinners in his private club in Palm Beach.

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Since he was elected in November, Trump has hosted at least four of the fund collections, including one in December, two in March and that of Friday evening, with a fifth scheduled for April 24.

The fund collections take place similarly, according to the people who attended them.

About 20 people gather around a candlelit table with large white flowers in the “white room and gold” of the club after a photographic session. Trump speaks, then listens to guests who discuss their activities, one by one. In just an hour or two, it can collect up to $ 20 million – a great return to its temporal investment, the members say.

The participants in a few post-electoral dinners in Mar-A-Lago, hosted by Maga Inc, one of the political action commissions of Trump, included the owner of the casino Miriam Adelson, the sugar magnate Pepe Fanjul and James Taiclet, CEO of Lockheed Martin, the largest world contractor, together with the representatives of the cryptocurrencies and energy.

On Friday, Ronald S. Lauder, the heir of the cosmetics, and Steve Wynn, former manager of the casino, both billionaires, were among the guests of the fundraising of Mar-A-Lago, according to two people informed on the matter. They spoke on condition of anonymity because they were not authorized to discuss the event.

The dinners were only the beginning. Mar-a-Lago remains a popular site for Republican candidates to host their own fund collections, show the registers of the Federal Electoral Commission.

Some Republicans are not clear why Trump raised funds so aggressively, according to eight people involved in the conservative fundraising that have held trace of Trump’s efforts. Never before before a president not admissible for the re -election has aspired so much money for a Super Pac.

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Some Trump associates believe that it is prudent funds when the money is available, since company interests and others try to access the president or to make fine for the perceived slides, the people close to him recognize.

The agendas crowded in the two trump offices recalled the constant hum and expenditure by lobbyists, members of the congress and foreign leaders at the Trump International Hotel in Washington before the Trump family sold the lease contract after the first term of Trump.

In addition to the Saudi sovereign sovereign wealth, the best sponsors of the Doral Golf tournament included Aramco, The Saudi Oil Company; Riyadh Air, the airline owned by Sovereign Wealth Fund; and Tiktok, the Chinese social media company whose fate Trump is helping to decideAccording to a large advertising billboard outside of one of the curtains of the event feast.

The Trump-c goods stores are at least three to Doral-Store also doing a quick activity, selling everything from a $ US550 to TRUMP brand brand to the US18 from $ the shop employee has declared that it does not know if new rates on imported products mean price increases.

Fans of the crowd said they had traveled to South Africa to participate in the event. Some have purchased special tickets that cost up to $ US1400 to participate in exclusive festive areas with free drinks and food – tickets sold out since Saturday.

In the interviews, the participants in the tournament and others said they did not matter the disconnection between the collapse of Wall Street and the events to the properties of Trump.

“The sky is falling every day,” said Mike Atwell, an owner of a wide key, in Florida, who participated in the Liv event with his wife who enjoyed lunch and drinks. “When you’re happy, drink. When you’re sad, drink. Everything works.”

Tyrell Davis, a 39 -year -old entrepreneur who spent on Saturday afternoon in Palm Beach, said he admired Trump for focusing on his activities currently implementing rates he believed would have benefited the Americans.

Davis said that the United States had given money to other countries for years not investing in American cities and that it made sense that Trump would continue to strengthen his activities while he was in charge.

“These are business and money,” said Davis. “Here’s what it is. America is a business. It is a company.”

On Saturday, while the tournament continued in Doral, Trump showed up in another family golf course, in Jupiter, Florida, who holds his most modest tournament.

Good news was announced by the staff of the White House: “The president won his match-up of the second round of the Senior Club Championship today in Jupiter, Florida, and promotes the Sunday championship round”. Journalists and photographers were forbidden to see him play and were kept on the street in a cafeteria.

While Trump returned to Mar-A-Lago, one of his political committees issued an offer to his followers: they could buy a replica signed by his executive order that changed the name of the Gulf of Mexico in the Gulf of America. The minimum contribution was $ US50.

“I want you to have a piece of history at your home,” Trump said in the stress.

The White House has therefore announced that there would be no more public events on Saturday.

This article originally appeared in The New York Times.

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