Newsom Slams Trump: 'The Ultimate Grift of Our Time'
Trump and his clan have raked in over $4 billion since last year, and California Governor Gavin Newsom isn’t holding back. On Saturday, during an appearance on "Real Time with Bill Maher," he unleashed a fiery tirade, branding the Trump administration as "the greatest grift we've ever seen in our lifetime."
Newsom's comments are not just hot air; they echo a growing chorus of reports detailing how Trump, his children, and close associates have fattened their wallets while in power. "Every day is a corruption story with the Trump administration. Let’s get serious," Newsom declared. "We can’t allow any of this to be normalized."
He kicked off his passionate critique by spotlighting the Trump family's international development deals. "He’s got eight or nine countries where he’s done major golf course or development deals," Newsom pointed out, highlighting the rapid expansion of the Trump Organization's real estate ventures since Trump’s return to power.
According to PBS, this expansion is unprecedented in the organization's century-long history, with each deal potentially influencing U.S. military aid and import tariffs. The Trump family’s cryptocurrency ventures are also cash cows, with The New York Times reporting they’ve become the most lucrative aspect of their business during this term.
In Qatar, they’re developing a golf club and villa project in partnership with a government-owned company. Meanwhile, in Vietnam, farmers were displaced to make way for a Trump resort, and a Saudi real estate mogul is planning a "Trump Plaza" resort. "Did these deals influence U.S. policies? It’s hard to say, but those countries got what they wanted—access to advanced U.S. technology for Qatar, tariff relief for Vietnam, and fighter jets for Saudi Arabia," PBS noted. "And the Trump Organization? Tens of millions in fees."
The Trump Organization insists it hasn’t struck deals with foreign governments, claiming that the Saudi company involved is private and that they are merely "collaborating" with the Qatari business.
Newsom then pivoted to the Trump family's crypto ventures, which have reportedly netted over $800 million from sales of crypto assets in just the first half of 2025. Most of this cash flow comes from foreign investors as the president's children promote their business on an international stage.
Reuters found that the Trump Organization's income skyrocketed 17-fold during this period, jumping from $51 million in 2024 to $864 million, with over 90% stemming from crypto ventures like World Liberty tokens.
World Liberty Financial (WLF) claims to be leading a financial revolution against traditional institutions. However, it essentially allows investors to funnel money directly to the Trump family, who own 60% of the company and pocket 75% of its net income from coin sales. The New York Times even questioned whether Steve Witkoff’s role was about making the world safer or just making the Trumps richer.
Donald Trump Jr., Eric Trump, and Barron Trump are co-founders alongside Witkoff’s sons. Witkoff has denied any wrongdoing.
Newsom didn’t stop there; he took aim at Trump’s so-called Board of Peace and his chief diplomatic envoys—son-in-law Jared Kushner and real estate developer Witkoff. "This Peace Board is about getting a piece for Witkoff and for Kushner," he said, pointing out that Donald Trump Jr. is involved in drone and mineral companies.
Originally pitched as a body to oversee peace in Gaza, Trump has redefined it as an international governing entity under his control, capable of intervening in global conflicts even post-presidency. All 28 member states have agreed to contribute $1 billion.
Trump controls the board's finances, which The Intercept described as "a slush fund of international proportions." The board can acquire property, institute legal proceedings, open bank accounts, and employ staff—all under Trump's exclusive authority.
As Newsom's comments resonate, The New Yorker estimates that Trump and his family have already pocketed up to $4 billion during this second term. The grift continues, and it’s clear that Newsom is gearing up for a fight as he eyes the 2028 presidential race.
