Appointed as President Trump’s special envoy to the Middle East in 2025, real estate magnate Steve Witkoff now finds himself at the center of a growing controversy over potential conflicts of interest . While leading sensitive diplomatic negotiations, including ceasefire talks between Israel and Hamas , Witkoff maintains financial ties to ventures deeply intertwined with the Trump administration and Gulf states—raising alarms among ethics watchdogs.
A Power Player with Deep Pockets
Witkoff, founder and chairman of The Witkoff Group, has built a sprawling real estate empire spanning New York, Florida, and California . His portfolio includes luxury residential, hospitality, and mixed-use developments like the oceanfront Shell Bay retreat .
Forbes estimates his net worth at $2 billion as of 2025, up from over $1 billion in late 2024 . To address conflict concerns upon taking office, Witkoff sold a $120 million stake in his firm in September 2025 . He disclosed assets worth at least $350 million, including stakes in major tech firms like SpaceX, Cisco, and Uber .
Diplomacy Amid Financial Entanglements
Despite stepping back from direct control of his real estate company, Witkoff has not fully severed controversial financial links. He continues to hold a stake in World Liberty Financial, a cryptocurrency venture linked to the Trump family . This has drawn sharp criticism, with lawmakers calling for investigations into what they describe as a “staggering” conflict of interest .
🔍 Conflict of Interest Red Flags
- Crypto Ties: Retains investment in Trump-affiliated World Liberty Financial
- Gulf Connections: Sons reportedly pitched real estate and crypto deals to Qatar and UAE
- Family Profits: A UAE-backed fund invested $2 billion in a Witkoff-linked crypto project
- Real Estate Links: Sold stake but retains influence in major development projects
Sons’ Deals with Gulf States
Even as Steve Witkoff led U.S. diplomacy in the region, his sons were actively courting billions in investments from Gulf governments . One fund backed by Gulf investors has already poured money into a Palm Beach property owned by the Witkoffs . Critics argue this creates a clear pathway for foreign influence and quid pro quo arrangements.
| Entity | Connection to Witkoff | Reported Value or Impact |
|---|---|---|
| The Witkoff Group | Founded and chaired by Steve Witkoff | $120M stake sold in Sept 2025 |
| World Liberty Financial | Steve holds stake; son Zach involved | $2B UAE-backed deal reported |
| Shell Bay (FL) | Witkoff Group development | Luxury residences and hotel |
| Southampton Real Estate | Personal holdings | Over $50M in value |
Diplomatic Missions Under Scrutiny
Witkoff played a key role in ceasefire efforts during the 2025 Gaza war, working alongside Biden-era officials before formally joining the Trump administration . In July 2025, he hosted high-level talks in Italy involving Israeli and Qatari representatives . However, his rejection of a Hamas-backed proposal later that summer raised questions about neutrality .
His appointment itself was unconventional—he served informally under Biden before being named Trump’s envoy .
“The American people deserve diplomats free from financial entanglement. When national security decisions intersect with private profit, trust erodes.”
— Senator Elizabeth Warren, calling for investigation
What Comes Next?
With Congress reviewing potential ethics violations , pressure is mounting on Witkoff to fully divest from World Liberty Financial and disclose all communications with Gulf investors. For now, he remains a central figure in Middle East diplomacy while simultaneously defending his business legacy.
For deeper analysis of government ethics, see [INTERNAL_LINK:government-ethics-conflicts].
For official information on U.S. diplomatic appointments, visit the U.S. Department of State.
Sources
- The New York Times: Investigating Steve Witkoff’s Sprawling Financial Empire
- Reuters: US envoy Steve Witkoff suggests Gaza ceasefire deal is close
- Forbes: Real Estate Tycoon Steve Witkoff Built a Fortune…
- Washington Post: Trump envoy faces conflict of interest over crypto holdings
- Bloomberg: Witkoff Sells $120 Million Stake in His Company
