Trump says sons run WLFI, denies knowledge of UAE-backed stake purchase

U.S. President Donald Trump said he knew nothing about UAE investors’ stake investment in World Liberty Financial (WLFI) and said his sons run the business, according to a CBS "60 Minutes" interview. Asked about a potential conflict of interest between WLFI’s foreign investment and his duties as president, Trump said, "I know nothing about it at all. My sons run the company, and you can’t tell them to shut down a business for four years just because I’m president." When asked whether he intended to dispose of his WLFI stake, Trump responded, "How do you dispose of cash?" Earlier, The Wall Street Journal reported an investment company backed by UAE National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan bought a 49% stake in WLFI for $500 million shortly before Trump took office. After the Democratic Party recently won the U.S. midterm elections, it has stepped up pressure for an investigation into potential conflicts of interest surrounding Trump’s cryptocurrency business.