Trump’s Sons’ Investments in the World, Africa, and Nigeria: Money, Influence, and the Family Business

Fact-check conclusion first: Based on available public records and credible reporting, there is no evidence that Eric Trump or Donald Trump Jr. personally hold direct investments or business interests in Nigeria. The family connection to Nigeria runs primarily through Tiffany Trump’s marriage into the Boulos family, which has longstanding business operations in Nigeria—but this is a relationship of in-laws, not the Trump sons’ own investments. Eric Trump has made general statements about Africa’s potential but has announced no specific Nigerian projects.

The Global Network: Brand Licensing as the Core Engine

The Trump sons’ international business expansion since their father’s second term has been driven overwhelmingly by real estate branding and licensing deals, not direct ownership. According to Trump Organization announcements and presidential financial disclosures, at least 20 new overseas projects have been added since the 2024 campaign, with licensing, development, and management revenue surging 40% between 2024 and 2025 to reach $63 million . The brothers, both executive vice presidents of the Trump Organization, do not own the buildings themselves; instead, they license the Trump name to local developers and provide consulting services during construction, collecting fees for both .

The most active partner has been Dar Global, the international arm of Saudi developer Dar Al Arkan. Projects include a Trump-branded complex in Oman, a golf resort in Wadi Safar, a skyscraper in Jeddah, and an $80-story Trump International Hotel and Tower in Dubai—the first Trump-branded hotel and tower in the Middle East, where Eric Trump has said units can be purchased with Bitcoin . The Maldives project has also explored fractional ownership through “real estate tokenization.”

Beyond the Middle East, the brothers have pursued deals in Georgia (a Trump Tower in Tbilisi, with the prime minister personally attending the launch), Vietnam (a resort project whose groundbreaking was attended by then-Prime Minister Pham Minh Chinh, who called it “significant” for US-Vietnam relations), and Serbia (the Trump Tower Belgrade project, backed by Jared Kushner, which has faced allegations of improperly expedited permits and an investigation into forgery of documents related to a historic building’s protected status) .

Africa: Rhetoric Versus Reality

Eric Trump has spoken expansively about Africa’s economic potential. At a 2026 event in Washington advocating closer US-Nigeria ties, he said: “I’ve spent a tremendous amount of time all over Africa, and the potential is unbelievable. The beauty of the countries and the natural resources speak for themselves” . He warned that if the US does not deepen engagement, “other adversaries” will expand their influence, and framed stronger partnerships as consistent with his father’s “America First” agenda .

However, no specific Trump Organization real estate, crypto, or investment projects in Africa have been publicly announced or documented. The brothers’ Africa-related business footprint, as distinct from their father’s or their in-laws’, appears to be essentially nonexistent in available records. A CNN review of Trump’s financial disclosures found 144 companies with dealings in at least 25 countries, but did not identify Nigeria or African nations as focal points for the sons’ ventures .

The Nigeria Connection: The Boulos Family, Not the Trump Sons

The Trump family’s most tangible link to Nigeria is through Tiffany Trump’s marriage to Michael Boulos, whose family has operated in Nigeria for decades. Michael’s father, Massad Boulos, runs SCOA Nigeria PLC, a conglomerate with interests in construction, automobile sales, and logistics . Michael was raised in Lagos and attended the American International School before studying in London .

However, the Boulos family’s actual wealth in Nigeria has been subject to significant scrutiny. A New York Times investigation reported that Massad Boulos spent roughly 20 years in a truck and heavy equipment leasing business, and that SCOA Nigeria’s profit was only about $660,000** in the prior year. The company’s stock value was approximately **$865,000, with Massad Boulos’s personal stake valued at just $1.53 . Reports describing him as a “billionaire” have been contradicted by these disclosures. Massad Boulos later clarified that most of the family’s wealth belongs to his wife, Sarah Fadoul Boulos, whose father built businesses in West and Central Africa in timber, construction, and vehicle sales .

Massad Boulos was appointed as Trump’s Senior Advisor for Africa, a role that has raised conflict-of-interest concerns given his family’s business ties to Nigeria . But this is a Boulos family matter, not an Eric or Donald Jr. investment.

Eric Trump’s Nigeria engagement has been limited to rhetorical support for closer ties. At the 2026 event with Belemaoil Group president Tein Jack-Rich, he endorsed stronger US-Nigeria economic partnership but announced no Trump Organization investments .

The Brothers’ Crypto and Investment Portfolio: Domestic, Not Nigerian

While the Trump sons have no documented Nigerian crypto interests, their domestic crypto and investment ventures are extensive and have benefited from the administration’s deregulatory posture.

World Liberty Financial (WLF) , co-founded by the brothers, has made most of its money issuing a stablecoin called USD1, which has $4.1 billion in circulation. The company earns interest on assets backing the token. Among its investors is Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s national security adviser . WLF’s application for a US banking license was approved by the Office of the Comptroller of the Currency, a process historically tightly regulated but made easier by the administration’s push to promote crypto banks. A spokesperson said the brothers are not involved in day-to-day operations and that the company “neither sought nor received special treatment” .

Donald Trump Jr. holds about $300,000 in equity** in prediction market **Kalshi**, where he became a strategic adviser in early 2025, and also advises competitor **Polymarket**, in which his venture fund 1789 Capital has a stake. Both companies have benefited from a more permissive CFTC approach that allowed sports betting, fueling rapid growth . Through **1789 Capital**, where he is a partner, assets under management have jumped from **$200 million to over $3 billion** since 2023. The fund invested in rare earths startup **Vulcan Elements** shortly before it received a **$620 million Pentagon loan, and in drone group Unusual Machines, which also received a military contract. A spokesperson said Trump Jr. does not sit on the investment committee and does not decide who receives funding, noting that portfolio defense companies have received contracts under both Trump and Biden administrations .

The brothers also own about 12% of Dominari Holdings, the management company of American Ventures, which manages roughly $1 billion investing in “US-based leaders in new technologies” .

What the Record Shows—and What It Doesn’t

The broader pattern that emerges is one in which the Trump sons’ global business network is real and expanding—but it is concentrated in the Middle East, the Balkans, and Southeast Asia, powered by brand licensing and domestic tech/crypto bets. Africa, and Nigeria specifically, remains a region of rhetorical engagement and in-law connections rather than documented Trump sons’ investments. If the FT’s original reporting contains evidence to the contrary, it is not reflected in the publicly available sources reviewed here.