On Thursday, a Manhattan grand jury found financier Bruce Garelick guilty of insider trading charges in a scheme that involved the merger of former President Donald J. Trump’s social media company with a publicly traded shell company.
Federal prosecutors had charged Garelick with five counts of securities fraud and conspiracy.
Statement of U.S. Attorney Damian Williams on the conviction of Bruce Garelick
Authorities claimed Garelick shared confidential information with his boss and at least one other person that Trump Media & Technology Group, the parent company of Truth Social, was close to announcing a merger with Digital World Acquisition Group, the shell company.
Mr. Garelick, 54, a former hedge fund manager, had been a board member of Digital World.
The information helped two brothers — Michael Shvartsman and Gerald Shvartsman — make nearly $23 million in illegal trading profits by buying Digital World securities in advance of the announcement, which sent the stock soaring. Mr. Garelick, who worked for Michael Shvartsman at a small Miami-based venture capital firm called Rocket One, made about $50,000 by trading off what authorities said was nonpublic information.
Last month, the Shvartsman brothers decided to forgo a trial and pleaded guilty to securities fraud charges. In their plea agreements, prosecutors have recommended a sentence of roughly four to five years for Michael Shvartsman; and three to four years for his younger brother.
Digital World raised about $300 million from investors in its initial public offering in September 2021. A little over a month later, the SPAC announced a deal to merge with Trump Media. After a long delay, the merger was completed in March and Trump Media became a publicly traded company. Mr. Trump’s nearly 70 percent stake in the firm is worth about $6 billion.
In a closing argument, Daniel Nessim, a federal prosecutor, described Mr. Garelick as a “sophisticated professional” who “cheated” and used inside information to benefit himself and his boss, Michael Shvartsman.
Garelick could face at least 25 years in prison.
This is a breaking news story. Please check back for updates.
On Monday, former President Donald Trump moved to overturn his criminal conviction in the Manhattan hush-money case after the Supreme Court ruled presidents have immunity for “official acts” committed while in office.
Manhattan District Attorney Alvin Bragg charged the former president in May with 34 counts of falsifying business records in the first degree. Trump pleaded not guilty to all counts in the Manhattan case.
Lawyers for Trump had filed a motion to dismiss the verdict hours after the Supreme Court’s ruling.
Duncan Lock, Dflock, CC BY-SA 3.0 via Wikimedia Commons
The motion came on the same day that the district attorney’s office sent sentencing recommendations to Judge Juan M. Merchan – who presided over the Manhattan trial – though it remains unclear whether that will be seen by the public, per reporting from The New York Times. Judge Merchan has received a letter from Trump’s lawyers, a person familiar with the matter confirmed to Fox News Digital.
The letter asks for permission to file a motion to vacate the jury’s Manhattan verdict, asks for a delay of the July 11 sentencing, and cites the high court’s decision in arguing that evidence was included at trial that should not have been admitted.
To file a motion in New York, defendants must first request permission from the judge in the case.
🚨 #BREAKING: President Trump’s July 11 sentencing likely to be DELAYED, as the Manhattan DA’s office declines to push back on Trump’s requests to throw the case out.
On Tuesday, Manhattan prosecutors agreed with Donald J. Trump’s request to postpone his criminal sentencing so that the judge overseeing the case could weigh whether a recent U.S. Supreme Court ruling might impact his conviction, according to The New York Times.
On Monday, the Supreme Court ruled 6-3 that a former president has absolute immunity for his core constitutional powers.
Former presidents are also entitled to at least a presumption of immunity for their official acts. There is no immunity, the court holds, for unofficial acts.
The Supreme Court returned the case to the trial court to determine what is left of special counsel Jack Smith’s indictment against the former President.
Tensions are running high within Trump’s inner circle…
Billionaire Elon Musk clashed publicly with Boris Epshteyn, one of Trump’s closest allies in what sources called a “massive blowout” over key Cabinet appointments.
According to three sources cited by Axios, the dispute reached a boiling point during a dinner at Trump’s Mar-a-Lago club last week during which Musk accused Epshteyn of leaking sensitive details about the transition process, including potential personnel picks.
“You don’t know what you’re talking about,” Epshteyn reportedly fired back during the heated exchange.
The altercation highlights a power struggle as Musk, a newcomer to Trump’s inner circle, increasingly advocates for his preferred candidates. Musk has reportedly criticized Epshteyn’s influence in selecting Justice Department nominees, including Matt Gaetz for attorney general.
Musk is lobbying for Howard Lutnick, co-chair of Trump’s transition team, as Treasury secretary, over Wall Street veteran Scott Bessent.
Despite the friction, Musk maintains considerable support among Trump’s family and allies.
However, the tech billionaire’s growing role in the transition has rankled longtime Trump loyalists, who view him as overstepping boundaries.
Musk has been among the president-elect’s most vocal and influential supporters since he endorsed Trump immediately after a July assassination attempt at a Pennsylvania rally but some in Trump’s inner circle say the Tesla CEO is being to overstay his welcome.
“Elon won’t go home. I can’t get rid of him. Until I don’t like him,” Trump quipped, according to a source in the room when Trump met with Republican lawmakers on Capitol Hill last Wednesday.
some Republicans have questioned how long Trump and Musk can happily co-exist, particularly given Trump’s past frustration with those who take up too much of the spotlight.
“Trump is not going to have another alpha. I think Trump is going to tire of him,” one source close to the transition told The Hill.
One Republican lobbyist with ties to Trump said there are some in the president-elect’s orbit who think Musk is “a little big for his britches.”
Trump transition team spokesperson Karoline Leavitt did not respond to requests for comment from The Hill, but in a statement on Wednesday to NBC News described Musk and Trump as “great friends and brilliant leaders working together to Make America Great Again.”
“Elon Musk is a once in a generation business leader and our federal bureaucracy will certainly benefit from his ideas and efficiency,” Leavitt said.
Former president of PayPal David Marcus announced he has switched political parties and endorsed Donald Trump via X.
I am crossing the Rubicon and backing the Republican Party and President Trump.
Many — including a former version of myself — get trapped in a mental framework that becomes their identity and prevents them from radically evolving their thinking with new facts and information. I…
“I am crossing the Rubicon and backing the Republican Party and President Trump. Many — including a former version of myself — get trapped in a mental framework that becomes their identity and prevents them from radically evolving their thinking with new facts and information. I finally broke free from it.”
“My journey has been a gradual political 180 from where I stood in every previous election. It has been an eye-opening process of disenchantment, zero-basing lifelong beliefs, and rebuilding from there,” wrote Marcus.
Marcus cited an anecdote where, in 2017, he was enlisted to raise $100M from Silicon Valley for the Democratic National Convention in order to “prevent a repeat of Hillary Clinton’s inadequate, outdated 2016 campaign.”
David Marcus is aligned with Trump on technology innovations like crypto and AI as well as foreign policy–especially the Middle East. Marcus opined, “on Iran, this administration is continuing a misguided Obama-era plan to bring Iran closer to the West by unfreezing Trump-era sanctions, thus giving the Mollahs’ regime the ability to fund terrorism and pursue its anti-America, anti-Israel, and anti-Jewish agenda.”
“I believe we need a President who is unequivocally pro: America, the Constitution, business, Bitcoin/crypto, innovation, Israel, small government, legal immigration, free speech, meritocracy, and common sense — and anti: regulatory proliferation, illegal immigration, unjust wars, Iran’s current regime, and domestic groups that oppose American values.”
Marcus completed his post by referencing the attempt on former President Trump’s life at a rally in Butler, PA on July 13.
“It’s impossible to close this post without mentioning President Trump’s recent assassination attempt. The courage and resolve he displayed seconds after being hit by a bullet was awe-inspiring for his followers and detractors alike. This was a man, however imperfect, who, at that moment, incarnated the American spirit in the most vivid way, starting to bring a split nation together,” wrote Marcus.
“In this pivotal moment, confronted with the choices we have, I am endorsing and supporting a return to a Republican administration in 2025,” the post concluded.
Trump has seen a number of prominent pro-business donors flock to his campaign this season as Republicans seek to a return to the White House.
[Photo Cred: Office of the President of the United States, Public domain, via Wikimedia Commons]
Former Trump adviser Peter Navarro recently made some potentially damaging accusations about Jared Kushner, former President Trump’s son-in-law and longtime White House adviser.
As reported by Mediaite, Navarro recently bashed Kushner about his portrayal of several dramatic actions he allegedly took while working at the White House.
“Appearing on Newsmax, Navarro addressed Kushner’s claim in his recently-published book that he was treated for thyroid cancer while serving in the White House.
Host Chris Salcedo flagged the excerpt from the book and stated Kushner “withheld a cancer diagnosis during tense negotiations with communist China.
Navarro addressed Kushner’s book.
“It’s fiction,” he continued. “And the thyroid thing, that came out of nowhere. I saw the guy every day. There’s no sign that he was in any pain or danger or whatever. I think it’s just sympathy to try to sell his book now.”
Salcedo asked if Kushner is “worthy” of Trump’s trust.
“No,” Navarro replied. “Time after time, whether it’s mismanagement of the campaign, mismanagement of the pandemic, taking too much credit for NAFTA, taking too much credit for the Abraham Accords. I mean, the guy was just a one-man wrecking crew, 36 years old I think when he got in there with no training. His only qualification was that he was the boss’s son-in-law.”
Notably, Navarro is dealing with a few of his own issues at the moment. A few days ago he was sued by President Biden’s Justice Department for refusing to hand over emails from his personal accounts which were used to conduct official White House business. Earlier this summer, he was criminally charged for ignoring a subpoena from the Jan. 6 Committee.
Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News.
Trump, the presumptive Republican presidential nominee, established the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his removal from Twitter after the events of Jan. 6, 2021, with the new website “Truth Social” being unveiled in 2022. On Monday, TMTG completed a merging process with DWAC, a special-purpose acquisition corporation, that would allow the company to be publicly traded on the National Association of Securities Dealers Automated Quotations stock exchange, also known as the “Nasdaq” exchange, with Trump’s 58% stake in the company being valued at $3.9 billion, according to Bloomberg News.
The share price of DWAC increased by 35.22% to close at $49.95 on Monday when the closing of the deal was announced, with the new company retaining the TMTG name and changing its stock ticker to Trump’s initials, “DJT.” The process will increase Trump’s net worth to $6.4 billion, according to Bloomberg.
Trump’s net worth, which until recently has primarily comprised real property of The Trump Organization, has been subject to varying estimates. The Australian Financial Review estimated his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion as of Monday — making him the 1,265th richest person in the world — with its highest-ever estimate for his net worth being $4.5 billion in 2016.
Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the largest number of followers. He often announces major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.
Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading
Palm Beach County commissioners narrowly approved a controversial trademark agreement Tuesday that clears the way for Palm Beach International Airport to be renamed after President Donald Trump — pushing forward a politically charged project that has divided local leaders and raised fresh concerns about taxpayer costs and oversight.
In a 4-3 vote, the commission signed off on a licensing deal with DTTM Operations LLC, the Trump family company that manages the president’s trademarks. The agreement gives Trump’s organization significant control over how the airport’s new identity is used, including authority over branding, marketing materials and the sale of airport-themed merchandise.
🇺🇸 A public airport is being renamed after Trump, and his family needed a trademark deal to make it happen.
Palm Beach County approved a licensing agreement with Trump's family business yesterday, a requirement to rename Palm Beach International Airport after the sitting… pic.twitter.com/dhONytQG79
The vote marks the first official action by county commissioners tied directly to the airport renaming effort, which was mandated earlier this year by Florida lawmakers and signed into law by Gov. Ron DeSantis.
Under the agreement, the airport is expected to adopt the name “President Donald J. Trump International Airport,” matching trademark filings submitted by Trump’s company in February.
For the first time, I am extremely proud to share the OFFICIAL logo for the Donald J. Trump International Airport in Palm Beach, Florida. There is no person more deserving of this incredible honor than @realDonaldTrump! Congratulations Dad!
Supporters of the deal argued the county had little choice but to move forward after state lawmakers forced the renaming through Tallahassee. Republican commissioners said approving the trademark agreement ensures Palm Beach County retains at least some role in negotiations surrounding the airport’s future branding and operations.
But critics warned the agreement grants unusually broad authority to Trump’s business organization while locking the county into a deal with no clear exit strategy.
Democratic commissioners Gregg Weiss, Joel Flores and Bobby Powell Jr. voted against the measure, saying they were given less than 24 hours to review the final agreement before Tuesday’s meeting.
They also raised concerns about provisions allowing Trump’s company to approve how the president’s image and biography are used in airport promotions and displays. Another clause requires airport retailers to source airport-branded merchandise only from vendors approved by Trump’s organization.
Trademark attorney Josh Gerben said portions of the agreement go beyond what is typically included in standard licensing deals.
“Normally a trademark agreement focuses on quality control standards,” Gerben said. “It’s unusual to see language requiring retailers to purchase merchandise from approved sellers selected by the trademark owner.”
County Attorney David Ottey defended the provision during Tuesday’s meeting, saying it was designed to maintain quality standards and insisting the Trump family would not financially benefit from sales made inside the airport. However, county officials acknowledged they still do not know which vendors may ultimately be approved.
The agreement also contains no termination clause, meaning Palm Beach County would remain bound by the deal indefinitely unless state law changes in the future.
Beyond the political controversy, county officials continue to warn about the financial impact of the renaming project. Administrators estimate the airport overhaul — including signage changes, marketing updates, federal documentation and operational adjustments — could cost taxpayers roughly $5.5 million.
County leaders have repeatedly urged the state to cover those costs rather than forcing local officials to redirect funding away from other infrastructure projects.
Officials have also raised concerns in recent months about possible safety and logistical complications tied to changing the airport’s name, particularly involving aviation systems, emergency coordination and federal regulatory updates.
Still, with Tuesday’s approval now complete and Trump having already signed the agreement over the weekend, the renaming effort appears poised to move ahead — cementing one of the most politically symbolic airport name changes in the country.
This article originally appeared on Official Trump Tracker. Republished with permission.
Former President of the United States Donald Trump speaking with attendees at the 2022 Student Action Summit at the Tampa Convention Center in Tampa, Florida. [Photo Credit: Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons]
On a bustling Thursday night in San Francisco, former President Donald Trump marked another impressive milestone in his 2024 presidential campaign. The presumptive Republican nominee and front-runner, according to the polls, celebrated a monumental $12 million fundraising haul. The fundraising event, hosted by prominent Silicon Valley figures, David Sacks and Chamath Palihapitiya, highlighted the undeniable shift in the tech industry, an arena traditionally dominated by liberal ideologies.
“These are brilliant guys – AI guys – these are the guys that are doing all the things you read about,” Trump gushed to Fox News Digital. These are just a brilliant group of people. And they can’t relate to Biden because he is a stupid person – and I have a high IQ.”
Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons
“They don’t like dealing with an IQ that’s like, you know, 1/3 of theirs, because it is a difficult thing when someone has an IQ of 180, it is difficult to deal with a man with an IQ of 70 – or maybe lower,” Trump added, attempting to goad the current president.
Sacks endorsed Trump hours before the high-dollar fundraiser at his multimillion-dollar home, located near the residence of Nancy and Paul Pelosi, symbolizing the growing willingness of certain tech industry leaders to publicly support Trump, a stance that previously rendered individuals persona non grata in Silicon Valley. (RELATED: San Francisco Sued Over Gender Scheme Targeting Minority Men)
Known for his business acumen and successful investments, including his status as an angel investor for Facebook, Uber, SpaceX, and Airbnb, Sachs’ support signals a broader acceptance of Trump’s candidacy within a traditionally GOP skeptical community.
Trump told Fox News Digital that Sacks’ “strong” endorsement “is a great testament to what I’ve accomplished.”
“David Sacks — the king of that world — David Sacks and the group that we were with are the most respected people in San Francisco from both a business and high tech standpoint,” Trump told Fox News Digital. “They love our country and they understand what’s happening into the future with technology better than any group, anywhere in the world.”
“One of the primary reasons for the endorsement was the four years that we had in office, which was the best four years ever for high tech, which will play an increasingly important role in the future of our country, especially as it relates to AI and all of the other new and brilliant technologies coming right at this moment,” Trump said. “It is a very exciting time and it is a great honor to have the most brilliant minds supporting, by far, the most brilliant leader.”
Why I’m Backing President Trump
As many press accounts have reported, I’m hosting a fundraising event for President Donald J. Trump at my home in San Francisco this evening.
Over the last couple of years, I have hosted events for presidential candidates Ron DeSantis, Vivek…
“My reasons rest on four main issues that I think are vital to American prosperity, security and stability — issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back,” Sacks said Thursday.
Other guests at Sacks’ Pacific Heights fundraiser included the Winklevoss twins, who successfully sued Facebook CEO Mark Zuckerberg for allegedly stealing their idea, which later became Facebook.
JD Lasica from Pleasanton, CA, US, CC BY 2.0 , via Wikimedia Commons
“He wasn’t the guy I see on TV,” one source told the New York Post. “He was very thoughtful and self-deprecating.” More than 100 guest attended the San Francisco soirée, paying as much as $300,000 a head.
Historically, Silicon Valley has been a bastion of liberal politics, with many tech leaders supporting Democratic candidates and policies. This alignment was driven by shared values around social issues and environmental sustainability. (RELATED: Google Shuts Down Its AI Chatbot ‘Gemini’ For Being Woke And Racist)
However, the dynamics may be changing. The industry’s rapid growth has brought increased scrutiny and regulatory pressures from Democratic lawmakers. Concerns over antitrust actions, data privacy regulations and labor practices have strained relationships between tech giants and the Democratic Party.
In contrast, Trump’s deregulatory stance, pro-business policies and tax reforms align with the interests of a growing number of Silicon Valley insiders.
Jeff Bezos built an empire delivering packages. His wife reportedly has another address in mind: 1600 Pennsylvania Avenue.
Lauren Sánchez Bezos is encouraging the Amazon founder to consider a future in politics — and can envision herself as first lady — according to an October 2 report by celebrity gossip columnist Rob Shuter in his Naughty But Nice Substack.
The report offers an intriguing window into the couple’s alleged private conversations. But it comes with a significant qualifier: Shuter’s sources say there is no campaign and no indication Bezos has decided to seek office.
“Lauren loves the idea of President Bezos,” an unnamed source told Shuter. “She talks about legacy, influence and what Jeff could do that money alone cannot buy. And yes, she can absolutely see herself as First Lady.”
According to Shuter, Sánchez’s fascination with Washington intensified after the couple attended President Donald Trump’s state dinner for Chinese President Xi Jinping. Their attendance at the September 24 gathering was documented in coverage of the event.
The dinner put the billionaire couple back inside the White House. Whether Bezos wants to move in remains another matter.
A Presidential Push — Or A Billionaire’s Fantasy?
Shuter’s sources describe Sánchez as someone looking beyond her husband’s business accomplishments toward a potentially bigger legacy.
“Lauren looks at Jeff and sees someone who conquered business, built a space company and became one of the most powerful men alive,” an insider told the columnist. “Her question is always: What’s left? In her mind, the presidency is the ultimate final act.”
Shuter is a longtime entertainment journalist and former celebrity publicist whose clients included Jennifer Lopez and Jessica Simpson. He also served as executive editor of the U.S. edition of OK! magazine and co-hosted VH1’s The Gossip Table. His reporting comes from the world of celebrity insiders, rather than a presidential campaign announcement.
Other outlets, including The Post Millennial, have picked up his Bezos report. Their coverage cites Shuter’s sources, rather than independently establishing that the billionaire is weighing a run.
Even within Shuter’s account, enthusiasm is hardly unanimous.
“Some people think it’s complete fantasy,” an insider told him. “But Lauren doesn’t dream small. She can already picture President Bezos — and herself standing beside him as First Lady.”
From Trump Feud To White House Guest
The political backdrop adds a twist: Bezos has been warming to the president he once publicly sparred with.
During their earlier feud, Trump attacked Amazon and Bezos’ ownership of The Washington Post. Bezos responded in 2015 by joking about reserving Trump a seat on a Blue Origin rocket.
Years later, the relationship looked considerably different. Bezos and Sánchez dined with Trump at Mar-a-Lago in December 2024, and Bezos attended his January 2025 inauguration.
Before Trump returned to office, Bezos also expressed support for his push to reduce regulation.
“I’m actually very optimistic this time around,” Bezos said at the December 2024 New York Times DealBook Summit. He indicated he wanted to help with that effort.
Trump reciprocated. In a March 2025 interview reported by Fox News, he called Bezos “a good guy” and described their improved relationship.
Those developments establish that Bezos has become more comfortable around Trump and Washington’s power circles. They do not establish presidential ambitions.
For now, the White House dream belongs to Sánchez — at least according to Shuter’s unnamed sources.
