The 'blind trust' of Donald Trump's business is also running his transition team


Donald Trump has named three of his children as well as his son-in-law to the executive committee overseeing his presidential transition team, inciting major concerns about the potential conflict of Trump's business interests and his presidency. Trump's attorney reported Thursday that the president-elect's vast holdings would be placed in a blind trust with his children Ivanka, Eric, and Donald Trump Jr. But "under the legal definition of a blind trust, a public official places his finances under the management of an independent party," Politico reports. "The official would have no knowledge of what is in the trust or how it is managed."
Still, no laws technically forbid Trump from being involved in the Trump Organization while serving as president. The ethics of that situation, though, are questionable. "Now we are faced with the possibility that a son or daughter of the president will turn up in Moscow or Uzbekistan or somewhere else negotiating a deal on a new property that will bear the name of the president, and the full knowledge that the president really is an owner of the company," Trevor Potter, a former Federal Election Commission chairman, told The Washington Post earlier this year. "That presents problems of a dimension we have never seen before."
Trump, for his part, has claimed that "if I become president, I couldn't care less about my company. It's peanuts. Run the company, kids. Have a good time." Trump's son, Donald Jr., added in September: "We're not going to be involved in government."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
5 suspiciously good cartoons about the Epstein files
Cartoons Artists take on the relationship between Donald Trump and Jeffrey Epstein
-
A glorious Greek island without the 'swank'
The Week Recommends Lesbos doesn't welcome 'hoards' of tourists, but is 'magnificent' and worth exploring
-
Norman Tebbit: fearsome politician who served as Thatcher's enforcer
In the Spotlight Former Conservative Party chair has died aged 94
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off