In what may be the most valuable gift ever extended to the United States from a foreign government, the Trump administration is preparing to accept a super luxury Boeing 747-8 jumbo jet from the royal family of Qatar — a gift that is to be available for use by President Donald Trump as the new Air Force One until shortly before he leaves office, at which time ownership of the plane will be transferred to the Trump presidential library foundation, sources familiar with the proposed arrangement told ABC News.
The gift is expected to be announced next week, when Trump visits Qatar on the first foreign trip of his second term, according to sources familiar with the plans.
Trump toured the plane, which is so opulently configured it is known as “a flying palace,” while it was parked at the West Palm Beach International Airport in February.
A 13-year-old private Boeing aircraft that President Donald Trump toured on Saturday to check out new hardware and technology features and highlight the aircraft maker’s delay in delivering updated versions of the Air Force One presidential aircraft, takes off from Palm Beach International Airport, Sunday, Feb. 16, 2025, in West Palm Beach, Fla. (A…Show more
Ben Curtis/AP
The highly unusual — unprecedented — arrangement is sure to raise questions about whether it is legal for the Trump administration, and ultimately, the Trump presidential library foundation, to accept such a valuable gift from a foreign power.
Anticipating those questions, sources told ABC News that lawyers for the White House counsel’s office and the Department of Justice drafted an analysis for Defense Secretary Pete Hegseth concluding that is legal for the Department of Defense to accept the aircraft as a gift and later turn it over to the Trump library, and that it does not violate laws against bribery or the Constitution’s prohibition (the emoluments clause) of any U.S. government official accepting gifts “from any King, Prince or foreign State.”
Sources told ABC News that Attorney General Pam Bondi and Trump’s top White House lawyer David Warrington concluded it would be “legally permissible” for the donation of the aircraft to be conditioned on transferring its ownership to Trump’s presidential library before the end of his term, according to sources familiar with their determination.
The sources said Bondi provided a legal memorandum addressed to the White House counsel’s office last week after Warrington asked her for advice on the legality of the Pentagon accepting such a donation.
The White House and DOJ didn’t immediately respond to request for comment. A spokesperson for the Qatari embassy did not respond to ABC’s inquiries.
President Donald Trump speaks with reporters after disembarking Marine One upon arrival on the South Lawn of the White House in Washington, Sunday, May 4, 2025.
Rod Lamkey/AP
The plane will initially be transferred to the United States Air Force, which will modify the 13-year-old aircraft to meet the U.S. military specifications required for any aircraft used to transport the president of the United States, multiple sources familiar with the proposed arrangement said.
The plane will then be transferred to the Trump Presidential Library Foundation no later than Jan. 1, 2029, and any costs relating to its transfer will be paid for by the U.S. Air Force, the sources told ABC News.
According to aviation industry experts, the estimated value of the aircraft Trump will inherit is about $400 million, and that’s without the additional communications security equipment the Air Force will need to add to properly secure and outfit the plane in order to safely transport the commander in chief.
As the Wall Street Journal first reported, the aviation company L3Harris has already been commissioned to overhaul the plane to meet the requirements of a presidential jet.
President Donald Trump walks to board Marine One to depart for Alabama, on the South Lawn of the White House in Washington, D.C., U.S., May 1, 2025.
Nathan Howard/Reuters
Both the White House and DOJ concluded that because the gift is not conditioned on any official act, it does not constitute bribery, the sources said. Bondi’s legal analysis also says it does not run afoul of the Constitution’s prohibition on foreign gifts because the plane is not being given to an individual, but rather to the United States Air Force and, eventually, to the presidential library foundation, the sources said.
The primary aircraft used in the current Air Force One fleet includes two aging Boeing 747-200 jumbo jets that have been operational since 1990. The Air Force contract with Boeing to replace those aircraft has been riddled with delays and cost overruns.
The original contract was signed in 2018, but as of last year, Boeing anticipated the aircraft would not be ready until 2029, after Trump leaves office.
The president has expressed deep frustration with the delays, tasking Elon Musk to work with Boeing and the Air Force to speed up the process. Those efforts have been modestly successful. Boeing’s most recent estimated delivery date is now 2027, but Trump has made it clear he wants a new plane this year.
(As is said on my other favorite blog, Our Failed Political Press at work again. sigh The money graf here: A foreign national under federal fraud prosecution making a purchase that results in $18 million cash payment to the president-elect has all the makings of a major scandal. But it has been virtually ignored by several major media outlets.
The banana is not Sun’s most notable recent purchase.
On November 25, Sun purchased $30 million in crypto tokens from World Liberty Financial, a new crypto venture backed by President-elect Donald Trump. Sun said his company, TRON, was committed to “making America great again.”
World Liberty Financial planned to sell $300 million worth of crypto tokens, known as WLF, which would value the new company at $1.5 billion. But, before Sun’s $30 million purchase, it appeared to be a bust, with only $22 million in tokens sold. Sun now owns more than 55% of purchased tokens.
Sun’s decision to buy $30 million in WLF tokens has direct and immediate financial benefits for Trump. A filing by the company in October revealed that “$30 million of initial net protocol revenues” will be “held in a reserve… to cover operating expenses, indemnities, and obligations.” After the reserve is met, a company owned by Donald Trump, DT Marks DEFI LLC, will receive “75% of the net protocol revenues.”
So before Sun’s purchase, Trump was entitled to nothing because the reserve had not been met. But Sun’s purchase covered the entire reserve, so now Trump is entitled to 75% of the revenues from all other tokens purchased. As of December 1, there have been $24 million WLF tokens sold, netting Trump $18 million.
Sun is also joining World Liberty Financial as an advisor, making Sun and the incoming president business partners.
While Trump has the cash, Sun’s tokens are effectively worthless. To comply with U.S. securities law, WLF tokens are “non-transferable and locked indefinitely in a wallet or smart contract until such time, if ever, [WLF tokens] are unlocked through protocol governance procedures in a fashion that does not contravene applicable law.” The only thing that Sun can do with his tokens is participate in the “governance” of World Liberty Financial. Right now, the only thing World Liberty Financial does is sell tokens.
Any foreign national paying an incoming president $18 million weeks before entering the White House should raise red flags. Sun’s purchase is even more alarming because the Securities and Exchange Commission (SEC) is currently prosecuting him for fraud.
The SEC’s ongoing prosecution of Sun
On March 22, 2023, the SEC charged Sun and three companies he owns. The SEC accused Sun of marketing unregistered securities and “fraudulently manipulating the secondary market” for a crypto token “through extensive wash trading.” Wash trading involves “the simultaneous or near-simultaneous purchase and sale of a security to make it appear actively traded without an actual change in beneficial ownership.” In other words, according to the SEC, Sun made it seem like there was a lot of interest in crypto tokens he issued when much of the trading was fraudulent and manufactured by Sun.
The SEC also charged Sun with “orchestrating a scheme to pay celebrities to tout” his crypto tokens “without disclosing their compensation.” Federal law requires people who endorse securities to “disclose whether they received compensation for the promotion, and to specify the amount.” The celebrities involved included Lindsay Lohan, Jake Paul, and Soulja Boy.
Lohan paid $40,000, and Paul paid about $100,000 to settle the charges against them without admitting liability. Soulja Boy did not respond to the lawsuit, and a default judgment was issued against him.
Sun posted on X that he believes the SEC “complaint lacks merit” and complained that “the SEC’s regulatory framework for digital assets is still in its infancy and is in need of further development.”
The litigation against Sun is ongoing, with a federal judge considering a motion by Sun’s attorneys to dismiss the charges. The current SEC Chairman, Gary Gensler, who announced the charges against Sun, will step down when Trump takes office in January. A new SEC commissioner appointed by Trump could settle or dismiss the charges against Sun.
How Trump can use the power of the presidency to unlock hundreds of millions in profits for himself
Through World Liberty Financial, Trump can reap massive personal profits from creating a more permissive regulatory environment for crypto ventures.
In addition to his 75% share of revenues over $30 million, Trump’s company was also awarded 22.5 billion WLF tokens. At the current sale price, these tokens are worth more than $300 million. That is more than 20 billion tokens being offered for sale publicly. (This makes the “governance” value of WLF tokens, which was already questionable, effectively worthless. No matter how many tokens you own, Trump will always be able to outvote other token holders.)
Right now, Trump’s tokens — like those purchased by Sun — are worthless because they cannot be transferred. But Trump could appoint a new SEC chairman who is friendly to the crypto industry and who would create new rules allowing the WLF tokens and similar crypto assets to be legally traded. If the price of the tokens increases when they hit the open market, which is a possibility for a crypto token backed by the President of the United States, the value of Trump’s tokens could be in the billions.
That appears to be exactly the path Trump is taking. WIRED reports that Trump is “asking the crypto industry to weigh in on potential picks.” Among the leading contenders is Paul Atkins, a former SEC Commissioner, who, since leaving the agency in 2008, has run a consulting firm that works with crypto companies. Atkins is also co-chair of the Token Alliance, an initiative of the Chamber of Digital Commerce, the lobbying group for the crypto industry. He is also a member of the Chamber of Digital Commerce’s Board of Directors.
Another top contender, former SEC General Counsel Robert Stebbins, has said that the SEC should “pause most of its crypto lawsuits while clearing a path for the firms to do business without the overhang of litigation.” But Stebbins’ candidacy underscores the need for Sun to forge a favorable relationship with Trump. Stebbins acknowledged that, even if it takes a more permissive view toward the crypto industry, it may want to consider continuing to pursue litigation involving fraud.
Major media outlets obsessed with banana, ignore Sun’s payment to Trump
A foreign national under federal fraud prosecution making a purchase that results in $18 million cash payment to the president-elect has all the makings of a major scandal. But it has been virtually ignored by several major media outlets.
The New York Times, for example, has published five articles about Sun’s purchase of the banana but none about Sun’s $30 million purchase of WLF tokens and his business partnership with Trump. The Washington Post has published three articles about the banana, but its coverage of Sun’s purchase of WLF tokens was limited to one short paragraph in a larger editorial about the crypto industry. (The paragraph does not explain how Trump personally profits from Sun’s token purchase.) The Wall Street Journal did publish a short piece about Sun’s token purchase on its “Live Update” blog, but the piece was not viewed as significant enough to be included in the print edition. The paper published two articles, plus a video, focused on the banana. One of the Wall Street Journal articles about the banana was published on the front page of the paper.
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