Hidden financiers fuel lawsuits that stall Trump policies and burden the U.S. economy

In an opinion piece, a former lawmaker and attorney highlights a growing industry of third-party litigation funding that masks the true backers of lawsuits targeting President Donald Trump’s agenda. He notes that foreign billionaires, progressive foundations and NGOs funnel money through nonprofits, shell entities and layered ownership, keeping courts and the public in the dark about who benefits from settlements or judgments.

Specific instances include Reid Hoffman’s financing of the E. Jean Carroll suit, Letitia James’s dependence on the Democratic Attorneys General Association, Michael Bloomberg’s foundation paying staff in state AG offices, and Hansjorg Wyss’s donations to the ACLU via the Berger Action Fund. The piece argues that these hidden investments delay pipelines, data centers, defense contracts and other projects, imposing billions of dollars in costs on households.

To counter the practice, the author suggests an executive order directing Treasury, FinCEN, the IRS and the SEC to treat litigation funders as reporting entities under the Corporate Transparency Act and related regulations, and urges Congress to codify disclosure requirements. He frames transparency as essential to protecting both the economy and democratic governance.