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'Turbulence far away': NYT exposes Trump 'moneymaking weekend' amid huge 'market meltdown'
As the global markets were tumbling at record levels, President Donald Trump was reportedly on a money-making spree in Mar-a-Lago.
As everyday folks were checking in on their 401ks and worrying about losing their Social Security payments, Trump's family was pushing numerous separate money-making schemes, the New York Times reported on Saturday.
In an article entitled "Trump Family’s Cash Registers Ring as Financial Meltdown Plays Out," the Times reports, "The party was on at a Saudi-backed LIV Golf tournament at the president’s Doral resort in Florida and a fund-raiser at Mar-a-Lago, even as markets tumbled."
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The piece, which features reporting from Maggie Haberman, who has seen Trump lash out against her reporting recently, reports that, "The financial market meltdown was underway when President Trump boarded Air Force One on his way to Florida on Thursday for a doubleheader of sorts: a Saudi-backed golf tournament at his family’s Miami resort and a weekend of fund-raisers attracting hundreds of donors to his Palm Beach club."
Reporting from inside the event, the Times adds that it was an opportunity for Trump "drive business to his family-owned real-estate ventures," which is "a practice he has sustained even when his work in Washington has caused worldwide financial turmoil."
"The Trump family monetization weekend started Thursday night, as crowds began to form at both the Trump National Doral resort near Miami International Airport, and separately at his Mar-a-Lago resort 70 miles up the coast," the report states. "Mr. Trump landed on the edge of one of the golf courses in a military helicopter — just in time for a dinner at Doral. The next day, LIV Golf, the breakaway professional league backed by Saudi Arabia’s sovereign wealth fund, was scheduled to hold a tournament at the course for the fourth time."
The report, which calls the event the Trumps' "moneymaking weekend," continues:
"On Friday, as markets continued to tumble, thousands of golf fans visited Doral, as did Eric Trump, Mr. Trump’s son, and Yasir Al-Rumayyan, the governor of Saudi Arabia’s $925 billion sovereign wealth fund. Mr. Al-Rumayyan is also the chairman of LIV Golf, and was there to see its stars compete."
The report also says, "In short, the economic turbulence seemed far away."
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