The family of Donald Trump, the President of the United States, has reportedly reaped enormous profits by leveraging the so-called "Trump in-law" status, according to a report by The New York Times (NYT) on the 21st (local time). The main character is the family of Michael Boulos, who married Trump's youngest daughter, Tiffany Trump.
NYT noted, "The Trump administration has blurred the boundaries between family, business, and government, and the Boulos family exemplifies this perfectly," adding that "newly confirmed transactions through contracts, court records, contemporary text messages, and interviews confirm that Boulos and his family, as well as associates, have been financially benefiting since the moment Tiffany became engaged."
Tiffany and Michael started publicly dating in 2018, and Michael proposed to Tiffany at the White House Rose Garden in late January 2021, just before President Trump's first term ended. Initially, Michael was known to be the heir to Boulos Enterprises, which was founded by an immigrant from Lebanon in Nigeria in 1960, and he married Tiffany in 2022.
Michael had highlighted the fact that he was engaged to Tiffany even before their wedding. He worked at an international yacht brokerage run by his cousin and proposed an investment in a superyacht measuring about 50 meters to Jared Kushner, who would become family. NYT reported that "this company overpriced the yacht without Kushner's knowledge, with the excessive billing amounting to $2.5 million."
Other family members did the same. Michael's cousin, Jimmy Prange, promised to invite a Saudi businessman to Tiffany's wedding, suggesting that it would make it appear as if they were close. It has also been confirmed that Prange texted the businessman, "I want to put you at the top of the guest list."
Prange claimed that Michael received about $300,000 (approximately 420 million won) under the pretext of the yacht transaction and also took $100,000 (approximately 140 million won) from the Saudi businessman. However, the yacht transaction ultimately fell through, and the Saudi businessman did not receive an invitation to the wedding. In response, a spokesperson for Michael stated that he only received a pre-agreed introduction fee from the yacht transaction and that he has since severed ties with his cousin.
The noise surrounding the Boulos family has not ceased. At the end of last year, when President Trump appointed Michael's father, Massad Boulos, as a Middle East adviser, NYT reported that, contrary to what was known, he had actually been engaged for over 20 years in the truck and heavy equipment rental business of his father-in-law's Nigerian company.
NYT stated, "The wedding of the two elevated the status of the Boulos family and highlighted the head of the family, Massad Boulos, as a key supporter of Trump's campaign," and added, "While the media depicted him as a billionaire, there is no evidence that he accumulated substantial wealth through independent business activities. The value of the equity that Massad holds in his in-law's Nigerian truck company is less than $2."
The Boulos family still seems to be leveraging their "Trump in-law" status. They are currently said to be pursuing business in Africa as well. Lansana Kouyaté, a former prime minister of Guinea, told NYT, "Michael did not specify the details, but a few months ago he said he wants to connect American investors with some governments in Africa," adding that "he is pursuing business here."