The family business · Second term · № 57
Entity tied to UAE's Sheikh Tahnoon reported to hold 49% of holding company for World Liberty's planned bank
“No one at World Liberty works for the U.S. government and there are no conflicts of interest” David Wachsman, World Liberty Financial spokesperson
- Date
- , Reported by The Wall Street Journal; statement to CNBC
- Subject
- United Arab Emirates
- Benefit
- Crypto
- Government
- United Arab Emirates
- Beneficiary
- World Liberty Financial (Trump family crypto venture)
- Topic
- Ethics & conflicts
- Era
- Second term
What happened
The Wall Street Journal reported on August 27, 2026 that Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser, and co-investors are behind StringZ Holding RSC, which owns 49% of WLTC Holdings, the holding company for World Liberty Financial's planned bank; an entity affiliated with Trump's family owns another 38%, according to CNBC's account of the report. Earlier in August 2026 the Office of the Comptroller of the Currency granted World Liberty preliminary conditional approval to establish a federally chartered national trust bank, which must meet further conditions before opening. CNBC reported that the administration had approved chip sales to G42, a UAE state-backed AI company controlled by Tahnoon, and in July 2026 eased limits on how many chips it could buy. World Liberty spokesman David Wachsman said the company neither seeks nor receives special treatment and did not address the reported ownership structure. A person familiar with the investment told the Journal it was never discussed with Trump, and the White House has denied any conflict of interest.