US Senate Democrats demand hearing on World Liberty Financial investment
Democrats in the US Senate have sent a letter to the Republican leadership requesting a hearing on potential conflicts of interest between World Liberty Financial and the Abu Dhabi royal family. According to The Wall Street Journal, an entity supported by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, has acquired a 49% stake in World Liberty Financial. The agreement was signed by Eric Trump four days before President Trump's inauguration, with a transaction size of $500 million, of which $187 million went to entities controlled by the Trump family and $31 million went to entities related to co-founder Steve Witkoff's family. Trump stated that he was not aware of the $500 million investment and did not participate in the daily operations of World Liberty Financial.