Sons of top Trump admin officials made billions for their families, but their investors didn’t always fare so well

Wall Street Journal: Virtually all the money from the sale of WLFI would go straight to the Trumps, Witkoffs and their co-owners Folkman and Herro—not the company itself. Based on World Liberty’s disclosures, 75% of that money from token sales would go to a Trump entity; 12.5% to a Witkoff entity; and 12.5% to Folkman and Herro, after deducting some operating expenses. The president owns 70% of that Trump entity while unnamed family members own 30%, according to the president’s financial disclosures. The Witkoff family doesn’t disclose the breakdown of its ownership.

Zach Witkoff, who was named chief executive after the election, wined and dined potential WLFI investors, including on a yacht off Miami’s coast to watch a fireworks display for New Year’s Eve. In private conversations, he touted his powerful friends and family connections, people familiar with the discussions said. Some crypto firms bought millions of dollars’ worth…