Former President Donald Trump sells God Bless America Bibles on Truth Social.
Source: Truth Social
Sneakers. Perfume. Trading cards. Bibles.
These are just some of the products Donald Trump is hawking as he seeks to replace President Joe Biden.
They join an extensive catalog of Trump-branded items, ranging from steaks to scented candles, that the businessman-turned-president has licensed over the years.
But as his campaign coffers dwindle and his fortune comes under threat, Trump — who has never fully separated his political career from his financial career — is now actively linking his business ventures to his bid for the White House.
“There is no precedent for this level of business activity during a presidential campaign,” Harvard Law School professor Lawrence Lessig told CNBC, although “the trend has been increasing for many years.”
Brendan Fischer, deputy executive director of the money-in-politics watchdog Documented, agreed.
“I can’t think of another modern example of a presidential candidate hawking a variety of goods for his private gain,” Fischer said.
For the average candidate, this activity could trigger a campaign finance investigation — but probably not for Trump, who, according to Fischer, was selling branded merchandise long before he entered politics.
“Trump is a unique case,” he said.
That uniqueness was on full display Tuesday when Trump unveiled his latest promotion: a $60 Bible that includes copies of the nation’s founding documents as well as lyrics from country star Lee Greenwood’s hit song “God Bless the USA.”
The song by Greenwood, who is working with Trump to support the high-priced holy book, is a regular feature at the presumptive Republican nominee’s campaign rallies.
In a video announcing the promotion, Trump made the campaign connection even clearer. He warned that Americans’ rights were at risk and declared: “We will make sure this changes.” He also repeatedly invoked his campaign slogan “Make America Great Again.”
It’s unclear how much money Trump makes from the Bible — he receives royalties from the sales, a person familiar with the agreement told The New York Times — but whatever he gets will essentially go into his pocket.
The Bibles website says it has no link to Trump’s campaign. Instead, Trump’s name, likeness and likeness are used under a paid license from a company called CIC Ventures LLC.
Trump’s 2023 financial disclosure calls him the “manager, president, secretary and treasurer” of CIC Ventures and lists his revocable trust as the sole owner of the company. Trump has earned more than $5 million in speaking engagements through the company, the disclosure shows. Florida business records show CIC’s address is the same as Trump’s golf club in West Palm Beach, Florida.
Lessig noted that Trump’s business moves do not appear to violate campaign ethics or financial rules.
“I don’t think there is an ethical problem at all – as long as proper reporting requirements are followed,” the professor said.
“There may well be a strategic or branding issue, but that is the same as any political speech,” he added.
A Trump campaign spokesman did not immediately respond to CNBC’s request for comment.
Trump’s biblical endorsement came during Holy Week, the week leading up to Easter and a holy time for Christians. It also came less than six weeks after Trump traveled to a sneaker convention in Philadelphia to launch his own line of tennis shoes.
Republican presidential candidate and former President Donald Trump delivers a speech while introducing a new line of signature shoes at Sneaker Con at the Philadelphia Convention Center on February 17, 2024 in Philadelphia, Pennsylvania.
Chip Somodevilla | Getty Images
Prices for the aptly titled “Trump Sneakers” range from $199 to $399 when pre-ordered. Two of the available models are decorated with the number 45, a reference to Trump’s term as the 45th US President.
The website selling the sneakers also promotes Trump-branded cologne and perfume, Victory47, both of which cost $99.
“’Victory’ is the signature scent of strength and success, packaged in a luxurious gold bottle,” reads the cologne’s description on the website.
Trump’s appearance at the party convention further blurred the line between campaign work and capitalist entrepreneurship.
“We will change this country quickly. We will change it. And we will remember the young people, and we will remember Sneaker Con,” he told the crowd, who greeted him with a mix of cheers and boos.
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The sneaker website states that “Trump” and its design are trademarks of CIC Ventures, and notes that Trump licensed his name and likeness to a company called 45Footwear LLC. This company is reportedly registered in Wyoming, one of the cheapest places in the country to start a business.
According to the website, the shoes are not designed, manufactured or distributed by Trump or the Trump Organization.
As the Biden campaign expands its fundraising lead over Trump’s political outreach, the GOP nominee has said he “might” pour his own money into the race. He did not do this in 2020.
Trump also has just days left to file a $175 million appeal to stop New York state from collecting a $454 million civil fraud judgment against him. He has already posted a $91.6 million bond as he appeals a separate civil case in which he was accused of defaming the writer E. Jean Carroll.
Trump also faces 91 criminal charges in four different courts, with his first trial scheduled for April 15. Trump has spent more than $100 million on his legal fees since leaving office in 2021, although none of it came out of his own pocket, according to The New York Times.
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2024-03-29 15:16:02
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