Trump Says He Knows 'Nothing' About World Liberty Financial as He Defends UAE Ties

In an interview following last week's midterm elections, U.S. President Donald Trump addressed concerns about his family's stake in crypto venture World Liberty Financial, which has ties to United Arab Emirates investors. When pressed about the arrangement, Trump claimed he knows 'nothing' about the company despite being listed as a co-owner.

The president defended his position by explaining that most of his money is managed by Wall Street firms through index funds, and that his sons run the family business. 'It's hard to say to them, 'Don't do anything anymore for four years because I'm president,' Trump told columnist Ross Douthat in the CBS News interview.

UAE Investment Details

World Liberty Financial, which was announced by Eric Trump in August 2024, has attracted scrutiny due to its UAE connections. In January, Aryam Investment, a UAE-backed entity tied to the country's national security adviser Sheikh Tahnoon bin Zayed, agreed to purchase a 49% stake in the firm for $500 million just four days before Trump's January 2025 inauguration.

The deal, signed by Eric Trump on behalf of World Liberty, reportedly preceded the administration's reversal of restrictions on advanced AI chip sales to the UAE. A World Liberty spokesperson had previously stated that neither Trump nor his Middle East envoy Steve Witkoff had 'any involvement whatsoever' in the transaction.

Legal and Political Reactions

The arrangement has drawn criticism from Democrats, with Sen. Chris Murphy (D-CT) describing it as 'potentially criminal conduct' in February. The company's UAE ties have also surfaced in its legal battle with Tron founder Justin Sun, who has asked a federal court to sanction World Liberty for allegedly delaying disclosure of UAE ownership.

According to World Liberty's own disclosures, DT Marks DEFI LLC, an entity affiliated with Trump and certain family members, owns about 38% of the holding company behind World Liberty Financial. The Trump-affiliated entity holds 22.5 billion WLFI tokens and is entitled to 75% of the net proceeds from WLFI token sales. No member of the Trump family serves as an officer, director or employee of the company.

Trump's Broader Defense

When asked whether foreign investors believe they are buying influence, Trump responded, 'I don't know.' He argued that conflicts of interest have affected presidents 'going back to George Washington,' claiming past presidents 'own something, whatever crypto was at the time.'

'There's crypto, and before that there was oil,' Trump said, adding that 'every president has had this problem.' He acknowledged, 'I'm a bigger name than other presidents, whether we like it or not,' suggesting his prominence makes his situation more visible.