- Trump administration brokered a $10B fee in the TikTok deal, an unprecedented amount for the government
- Experts say the massive fee is highly unusual, with investment bankers typically earning less than 1% on transactions
- Calls for Trump’s impeachment over the deal, which appears to be another example of him using the presidency to enrich himself
Donald Trump grifting seemingly knows no bounds. A recent report from The Wall Street Journal claims that his administration will pocket $10 billion from the deal that “saved” TikTok.
There are calls for Donald Trump to be impeached following the deal in which US investors Oracle, Silver Lake, and Abu Dhabi’s MGX have taken over TikTok’s US operations from the Chinese-based parent company ByteDance.
As part of the deal, the companies listed above have already dished out $2.5 billion to the US Treasury, but it’s the reported $10 billion haul going to Trump that is raising alarm bells.
Speaking on the “deal” back in September Trump said, “It hasn’t been fully negotiated, but we’ll get something.” He continued, “The United States is getting a tremendous fee-plus—I call it a fee-plus—just for making the deal and I don’t want to throw that out the window.”
Donald Trump Is Putting On A Masterclass When It Comes To Enriching Himself
The report now makes it look like Trump is continuing to use the presidency to enrich himself, noting that it’s highly unusual for the government to haul in such a large amount of money to be hauled in by the government.
Per Raw Story:
The $10 billion haul is nearly unheard of for a government brokering a deal, the Journal noted. Investment bankers typically rake in less than 1% on transactions. Bank of America is set to make just $130 million advising on a $71.5 billion railroad deal, one of the largest fees ever recorded.
Administration officials say the massive fee is justified since Trump saved TikTok from the ban and navigated tricky negotiations with China while addressing lawmakers’ security concerns about Americans’ personal data.
This TikTok fee is just the latest example of the administration’s expanding business portfolio. Trump’s also holding stakes in Intel and Nvidia chip sales, plus wielding influence over U.S. Steel through Japan’s Nippon Steel takeover.
Social Media Is Sounding The Alarm On Donald Trump’s Lawlessness
The reactions to The WSJ’s reporting have folks sounding the alarm and calling for Trump’s impeachment and removal from office.
“JFC. Impeach and remove this lawless man, you fools,” said Chris Geidner of Law Dorks on Bluesky.
Another post on Bluesky read, “The regime gets brokers’ fees? Silly question: Who decides what is done with that money? The Crook-in-Chief?”
