Donald Trump said he “knew nothing” about World Liberty Financial, in which he has a stake.
In a 60 Minutes interview published Sunday by CBS News, Trump was asked whether foreign investment in the crypto company raised concerns about conflicts of interest. When reminded that he might criticize former President Joe Biden if he were involved in a similar business, he said he “knew nothing” about the company.
Correspondent Ross Douthat also asked Trump why he had not given up his stake while his sons continued to run the company. Trump replied, “How do you give up cash?” and said that most of his wealth was invested in index funds at major Wall Street firms. He has previously defended keeping his stake on the grounds that his sons run the company.
When World Liberty Financial launched in September 2024, it gave Trump the title “Chief Crypto Advocate.” Trump thus held an official role in a company he said he knew nothing about, in addition to having a stake in it.
Debate over foreign investment in World Liberty Financial
The Wall Street Journal (WSJ) reported in August that Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, and co-investors owned 49 percent of WLTC Holdings, which is connected to World Liberty Financial.
In a separate earlier report, the WSJ alleged that an investment vehicle backed by Tahnoon acquired a 49 percent stake in World Liberty Financial for $500 million, shortly before Trump took office. The investment was reported as a separate transaction from the alleged stake in WLTC Holdings.
Not investment advice.