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06 Apr, 2025
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Trump Enjoys ‘Big Moneymaking Weekend’ Amid Market Meltdown
@Source: thedailybeast.com
President Donald Trump is holed up at two of his Florida resorts for a “big moneymaking weekend” after his tariff announcement sent the stock market careening downward, according to a New York Times report. In just a few days, Trump managed to hold multiple glitzy fundraisers as well as a LIV Golf tournament—the fourth tournament paid for by Saudi Arabia’s sovereign wealth fund to be hosted at a Trump course, the Times reported. Trump on Wednesday announced a sweeping universal tariff plan. All goods entering the U.S. were hit with a baseline 10 percent tax, while certain trading partners will be tariffed at much higher rates. In the two days of trading since, the S&P 500, an indicator of the market’s overall performance, has lost more than 10 percent of its value. It is one of the worst stock market crashes in American history. The scene in Trump’s corner of Florida, however, did not reflect the catastrophe unfolding in the American markets, based on details reported by the Times. On Thursday at Mar-a-Lago, hundreds gathered for the American Patriots Gala, a right-wing fundraiser attended by Secretary of Homeland Security Kristi Noem and Argentinian President Javier Milei—but not Trump himself. The president, meanwhile, was 70 miles down the coast, at another of his properties, the Trump National Doral resort. His helicopter touched down just in time to host a dinner at Doral. He was there, rather than Mar-a-Lago, to attend the LIV Golf tournament on Friday. Trump drew much criticism for his spectatorship on two fronts: the bad optics of enjoying a sporting event while the stock market tanked and the fact that the president missed an event honoring dead American soldiers to be there. The vibe at the LIV tournament was party-like, per the Times. Club music blasted out of speakers. Beer and wine dispensers lined the tourney’s courses. The Doral sold out all of its 643 rooms for the event, including its $13,000 presidential suite, the Times reported. At one point on Friday, as stocks slumped even farther, Trump posted to Truth Social that “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE.” By nightfall, it was time for another fundraiser. The president, now back at Mar-a-Lago, hosted a $1 million-a-plate private dinner. It was at least the fourth such event Trump has hosted since entering office. A fifth is slated for April 24. With just an hour or two of work, Trump can clear as much as $20 million from the events, during which he listens to around 20 attendees discuss their business ventures one-by-one over dinner in the club’s “White and Gold Room.” Guests at the session on Friday included cosmetics heir Ronald Lauder and casino mogul Steve Wynn. On Saturday, Trump made his way to another of his golf courses to throw his own hat in the ring for a smaller tournament. The White House, which didn’t allow reporters to observe or photograph the president’s day on the links, offered an update after the fact: “The president won his second round matchup of the senior club championship today in Jupiter, Fla., and advances to the championship round on Sunday.”
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