President Donald Trump said his children manage his investments and that he has no direct involvement in his business affairs, responding to questions about potential conflicts of interest after financial disclosures showed he earned more than $2 billion during his first year back in office.
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Trump denies involvement in personal business decisions
Speaking in an interview with CNBC on Thursday, Trump was asked about concerns surrounding his investments after disclosures indicated he made about $1.4 billion from cryptocurrency ventures in 2025.
Trump said he was not involved in those business activities and claimed he had no knowledge of the investments.
"I could know about it. I didn't," he said. "There's nothing illegal, there's nothing wrong with it."
Conflict of interest questions
The discussion followed a reference by CNBC host Joe Kernen to federal ethics rules that prohibit most executive branch employees from taking part in government matters that could affect their financial interests or those of close associates. Those restrictions, however, do not apply to the president or vice president.
Unlike several previous presidents, Trump has not divested his business holdings or placed his assets in a blind trust. His financial arrangements have prompted continuing criticism from Democrats, who argue they create potential conflicts between his public duties and private business interests.
House Democratic Leader Hakeem Jeffries said on X that Trump had made more than $2 billion during his first year in office, accusing Republicans of enriching themselves while Americans faced rising living costs.
Says Eric Trump oversees portfolio
Asked whether he was concerned that Democrats could investigate his investments if they regain control of Congress, Trump said he has no role in managing his businesses.
"I don't do anything having to do with my business. My kids run it," he said.
Trump identified his son Eric as the person overseeing his investment portfolio and said they do not discuss financial matters.
He added that his money is managed by large investment firms and said he does not know the individuals responsible for handling those investments.
Defends crypto and family business
When questioned about profits from his cryptocurrency businesses, Trump instead emphasized the importance of the United States remaining competitive in the digital asset industry.
He said the country needed to lead in cryptocurrency development or risk falling behind China, adding that he had been involved with crypto before returning to office.
Trump also said he sympathized with his children, arguing that almost any business decision they make attracts scrutiny because of his position as president. He said he encourages them to avoid activities that could create the appearance of conflicts but acknowledged they still have businesses and personal lives.
The president said his business background was one of the reasons voters elected him, but insisted financial gain is no longer his priority.
He said serving as president is a "much bigger purpose" than making money.
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Adapted by ASEAN Now. Source 4 July 2026