A recent report from The Wall Street Journal has raised concerns over Donald Trump’s involvement in the TikTok deal, where his administration is reportedly set to pocket $10 billion. The deal, which involved US investors like Oracle, Silver Lake, and Abu Dhabi’s MGX taking over TikTok’s US operations from its Chinese parent company ByteDance, is sparking outrage and calls for impeachment.
The Deal That “Saved” TikTok and Trump’s Profit
The deal has been scrutinized due to Trump’s reported financial gain. According to The Wall Street Journal, US investors have already contributed $2.5 billion to the US Treasury as part of the agreement, but it is the reported $10 billion fee going to Trump that has raised alarm bells.
Trump himself had said in September, “It hasn’t been fully negotiated, but we’ll get something,” adding that the U.S. is receiving a “tremendous fee-plus” for facilitating the deal.
Trump’s Grifting and Self-Enrichment During His Presidency
The revelation about the TikTok deal has reignited criticism about Trump’s ongoing use of the presidency to enrich himself. The $10 billion fee, as reported, is nearly unprecedented for a government facilitating a business transaction. Typically, investment bankers earn less than 1% in fees, with Bank of America set to make just $130 million for advising on a $71.5 billion railroad deal, one of the largest fees on record.
Administration officials have defended the deal, claiming that the fee is justified given Trump’s role in saving TikTok from a ban and navigating difficult negotiations with China, all while addressing concerns about the security of Americans’ personal data.
Expanding Business Portfolio: Trump’s Other Financial Interests
This TikTok deal is just the latest example of Trump’s expanding business interests. In addition to his involvement in TikTok, Trump is reportedly holding stakes in Intel and Nvidia chip sales and has influence over U.S. Steel through Japan’s Nippon Steel takeover. Critics argue that these financial entanglements highlight Trump’s ongoing use of political power for personal enrichment.
Social Media Responds: Calls for Impeachment and Removal
Reactions on social media have been swift and furious. Many have taken to platforms like Bluesky to voice their outrage, calling for Trump’s impeachment and removal from office. One post from Chris Geidner, a law commentator, stated, “JFC. Impeach and remove this lawless man, you fools.” Another Bluesky post raised questions about the decision-making process, asking, “Who decides what is done with that money? The Crook-in-Chief?”
The Controversial Fees: A Brokering Precedent?
Critics argue that such large broker fees for government involvement in business deals set a troubling precedent. The TikTok deal could open the door for future instances of government officials personally profiting from similar deals, raising ethical concerns over the role of government in corporate negotiations.
