Bloomberg Businessweek

The Trump Family is Now Banking with Citi

Oct 2, 2025
Todd Gillespie, a Bloomberg News banking reporter, discusses the Trump family's surprising new banking relationship with Citigroup, revealing how they navigated being shunned by other banks. Scott Wisniewski of AST SpaceMobile shares insights on launching satellite cellular broadband and their innovative partnerships with major mobile operators. Lucas Shaw, managing editor for media & entertainment, delves into the rise of Mr. Beast, exploring his unique content creation strategies and the financial pressures of maintaining viral success.
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INSIGHT

Citi Reopens Doors To The Trump Family

  • Citigroup established a new relationship with Eric Trump after Jane Fraser congratulated him post-election and set up a trust holding some of the president's money.
  • The move signals a possible thaw in big-bank reluctance to work with the Trump family amid shifting political and reputational calculations.
ADVICE

Limit Access And Weigh Regulatory Exposure

  • When assessing bank relationships, consider both commercial value and regulatory exposures tied to political connections.
  • Corporations often limit internal access to sensitive client information to manage risk and compliance.
INSIGHT

Corporate Diplomacy Can Rebuild Ties

  • Jane Fraser's attendance at state events and seating near White House officials suggests corporate diplomacy can reopen lines even after prior business tensions.
  • Corporate relationships and historical dealings mean banks often balance politics, regulation, and commercial opportunity.
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