Business analyst Ed Elson publicly accused President Donald Trump and his family of profiting from events surrounding the deadly Iran war. Speaking directly to anchor Katy Tur, the podcast host suggested that the president may have engaged in insider trading, pointing to investments in tactical drone companies made shortly before the U.S. went to war with Iran.
The news came after a previous report highlighted the immense wealth accumulated by the president's inner circle. Donald Trump Jr saw his management fund grow from a few hundred million dollars to more than $3 billion (£2.25 billion), generating returns of roughly 200 percent as of 30 June. Tur pointed out that average returns for other similarly founded venture capital firms sit at just 21 percent.
Trump Family Drone Investments Before Iran War
Elson, co-host of the Prof G Markets podcast, did not mince words when dissecting the timing of these military investments. He presented viewers with a stark choice regarding the president, stating that he is either the greatest investor of all time or an insider trader. The analyst pointed specifically to Eric Trump and Don Jr, alleging they secured stakes in drone manufacturers that supply the US government before the conflict began.
Elson claimed that the family sits on the boards of multiple companies they are actively attempting to deregulate through agencies like the IRS, DOJ, and the Commodity Futures Trading Commission. He also pointed a finger directly at the president, alleging that Trump gutted the Securities and Exchange Commission.
According to Elson, the agency has lost its workforce, and monetary settlements in case pursuits are hitting all-time lows. IBTimes UK cannot independently verify these claims, so they should be taken lightly.
Trump Family Wealth During The Iran War
The financial allegations extend beyond the battlefield. Elson described the president's cryptocurrency ventures as essentially a Ponzi scheme, noting that Trump made $1.4 billion (£1.05 billion) from digital currencies last year alone. That figure, according to the analyst, eclipses the personal earnings of the largest crypto firms in America, including Coinbase.
'So, I mean, do the math yourself,' Elson said during the broadcast. 'Either he's a genius or he's pulling a fast one. I think it's pretty clear what the answer is.'
In another move, Trump Media and Technology Group planned to launch a $100,000-a-month data feed on 1 August. The service gives high-frequency trading firms licensed, real-time access to posts from the highest-ranking Truth Social accounts, allowing them to execute trades a fraction of a second faster than everyone else.
White House Frustration Over Iran War Allegations
These allegations of corruption appear to be impacting the president's political standing. Poll numbers for Trump are currently crashing. A source close to the administration said that the White House is at a maximum level of frustration right now. They added that the president now fully realises his desired path to victory is completely politically impossible.
Tur noted that a good portion of the population previously went along with these ethical grey areas, enough to get him elected twice. But the tide is seemingly turning based on the latest polling data. As Tur observed on air, that previous persuasion is not effective any longer because Americans are talking about the situation. She stated that voters are seeing and feeling it, describing the situation simply as corruption.
