A capital alliance originally intended to "change the future of finance" and bring hundreds of millions of dollars in wealth to the Trump family has now devolved into a nightmare that leaves investors feeling deeply betrayed—due to a partner embroiled in a money laundering scandal, plummeting stock prices, and regulatory investigations. In the eyes of foreign media, this may be "White House corruption never before seen in American history."

He wrote AI policy for Trump, and the companies he invested in made $200 billion. July 2025 in Washington, DC is stiflingly hot. In a neoclassical auditorium near the White House, an unprecedented artificial intelligence summit is taking place. President Trump stands at the podium, accompanied by his newly appointed AI and crypto czar—David Sacks.

The audience is a veritable Hall of Fame of the tech world: Nvidia CEO Jensen Huang, AMD CEO Lisa Su, and many of Sacks’s friends, colleagues, and business partners from Silicon Valley. Almost every one of them stands to benefit from the executive order Trump is about to sign.

But the story behind this summit is far more fascinating than the speeches on stage. According to The New York Times, Sacks originally planned for his own podcast, All-In, to exclusively host the White House event. Sponsors were invited to pay $1 million in exchange for tickets to a private reception and the opportunity to mingle with the president.

From ballerina to youngest billionaire: how she built a $10 billion empire. Kalshi is currently valued at $11 billion, making its two co-founders (Luana Lopes Lara and Tarek Mansour) billionaires. Luana Lopes Lara has also become the world’s youngest self-made female billionaire.