Topline
The Trump Organization announced Monday its latest venture – a cell phone service and smartphone line– with clear branding tied to President Donald Trump, the latest example of blurred lines between Trump’s Oval Office position and his family’s private business dealings.
The service said its monthly plan will start at $47.45 per month, a nod to Trump’s standing as the ... More
Trump’s eldest sons Donald Trump Jr. and Eric Trump unveiled the “Trump Mobile” entity, which will have a monthly talk, text and data plan and its own phone.
Called the “47 plan,” the monthly mobile service will start at $47.45 before taxes and fees, a reference to Trump being the U.S.’ 45th and 47th president, according to the Trump Mobile website.
The company said its signature “T1 Phone” will start at $499, and the website’s mockup of the device “coming soon” shows an etched American flag on the back of the phone.
The “Trump Mobile” phone will run on Google’s Android operating system and will be built in the U.S., according to Eric Trump.
The “Trump Mobile” announcement comes less than a month after the president threatened to slap 25% tariffs on iPhone maker Apple and other smartphone giants for not producing their phones domestically.
Donald Trump maintains “significant control” over the Trump Organization, according to a recent U.K. filing. Since Trump won a second presidential term in November, much of the Trump family’s business dealings with hazy boundaries between the public and private sectors have been in the cryptocurrency space, including launching a $TRUMP memecoin which netted top investors in the inherently worthless token a dinner with the president at his Virginia golf club. The Trump Organization has also announced several massive overseas deals in recent months, including a $1.5 billion golf club in Vietnam.
Trump is worth $5.3 billion, according to our latest estimates. A majority of his wealth comes from his controlling stake in the public Trump Media & Technology Group, which trades under the ticker $DJT, the president’s initials. Originally the parent company of Trump’s Truth Social social media site, Trump Media has since expanded heavily into crypto, saying last month it raised $2.5 billion to purchase bitcoin, the world’s most valuable crypto token.
Shares of AT&T, T-Mobile and Verizon all declined Monday morning despite a broader rally. Trump Media stock rose 2%.