October 9, 2026

On Tuesday the president stood at Sparrows Point and committed up to $2.9 billion in Navy money to a defense company whose backers include the venture fund where his eldest son is a partner. It is the newest entry in a ledger that now runs to billions of dollars in contracts, loans, crypto windfalls and foreign gifts. No modern president has blurred the line between public office and private fortune this completely, and Congress has barely begun to ask why.