The Trump Family is Now Banking with Citi
October 2, 2025
43 min
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4,946 of 5,353
October 2, 2025
The Trump Family is Now Banking with Citi
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43:47This episodeThe Trump Family is Now Banking with Citi
Summary
<p>Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.<br /><br />After years getting shunned by major banks, Donald Trump’s money has found another place to call home: Citigroup Inc.<br /><br />The president’s son, Eric Trump, signed up as a client of the third-largest US lender and established a trust there that holds some of his father’s money, according to people with direct knowledge of the matter, who asked not to be named discussing the confidential arrangements.<br />The relationship started after Chief Executive Officer Jane Fraser reached out to congratulate President Trump on his election win in November. The new trust is a sensitive topic inside the bank, which weighed how to limit access to information beyond key staff — such as wealth management chief Andy Sieg, who led talks with Eric Trump, and Kent Lucken, a Citigroup banker handling the relationship, some of the people said.<br /><br />The unwillingness of many banks to safeguard Donald Trump’s wealth has irritated the president, who publicly lashed out this year at JPMorgan Chase & Co. and Bank of America Corp., claiming they refused his money. Both firms have said they don’t deny business on ideological grounds.<br />Traditional financial institutions “did everything they could to try and cancel us,” Eric Trump said in a Bloomberg Television interview last month. The president told CNBC he “ended up going to small banks all over the place.” A Citigroup spokesperson declined to comment. There was no response to a request for comment from the Trump Organization, the family’s real estate business where Eric Trump is a top executive.<br /><br />Today's show features:</p> <ul> <li>Bloomberg News Banking Reporter Todd Gillespie on Trump’s Wealth, Once Spurned by Banks, Gets New Home at Citi</li> <li>Scott Wisniewski, President of AST SpaceMobile, on the market for cellular broadband in space and competing with Starlink</li> <li>Bloomberg News Managing Editor, Media & Entertainment, Lucas Shaw on the Bloomberg Businessweek cover story profiling Mr. Beast</li> <li>Drive to the Close with Adrianne Yamaki, Founder and Managing Partner of Strategic Wealth Capital</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>
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