President Donald Trump raises his fist as he returns to the White House, in Washington, D.C., May 31, 2026. REUTERS/Aaron Schwartz
President Donald Trump's latest big grift might be falling to pieces, but according to his former biographer, he remains "undeterred" and is driven by one "creed" above all in his pursuit of "shameless" cash grabs.
The Trump administration this week reportedly backed off on its plan for a $1.776 billion "anti-weaponization" slush fund, which was created in settlement of Trump's IRS lawsuit and intended to pay out money to people supposedly targeted by the government for their political views. In effect, critics said that this was just another way for Trump to reward his followers, potentially including Capitol riot participants.
The fund stalled in the face of growing backlash from both Democrats and Republicans, as well as a federal judge's order temporarily halting its creation, and though it could be revived, reports indicate that the administration plans to move on from it altogether.
Michael Wolff, the longtime reporter and writer of numerous books about Trump's political career, revealed in the latest episode of his Daily Beast podcast, "Inside Trump's Head," that this is far from the end of the president's grifting, citing comments he got from sources close to the situation.
“I was poking the people I know who are close to this,” Wolff said. “‘What’s going on?’ And this is what they said: ‘Well, it’s back to the drawing board.’ And I said, ‘Well, what does that mean?’ Then they said, ‘What do you think it means?’”
He added later: “The whole thing is preposterous to begin with… This is more preposterous than even the usual preposterous. He sued the IRS, which is effectively suing himself. And then he settled with the IRS, which is effectively settling with himself.”
Wolff further argued that the backlash to the fund was the result of an “oh my God moment” for the “entire country,” becoming something that even the pliable Republicans could not stomach. In the wake of Trump's other self-serving cash grabs since returning to office, it finally became too much.
“This is adding up. The grift becomes a significant issue. And this was a grift beyond just — this was just a grab in which they didn’t even care,” Wolff continued. “So that’s the moment... in which this came tumbling down.”
Despite this setback, Wolff noted that Trump is in no way "chastened," and is still being driven to find new avenues for self-enrichment by one mantra above all: "the grifter's creed."
“Part of what is going on now is he’s figuring out what he gets, what he can get,” Wolff expained. “He runs this government. This government... offers all kinds of opportunities. So they have to figure out what’s the opportunity they can get away with... What he can get away with, that’s the grifter’s creed.”
