Who Is Ben Black? Trump Nominee—And Son Of Billionaire—Wants To Repurpose USAID Funds

Forbes - Feb 26th, 2025

President Donald Trump has appointed Ben Black, son of billionaire Leon Black, to lead the U.S. International Development Finance Corporation (DFC). The surprise nomination follows Black's Substack post proposing to redirect funds from the U.S. Agency for International Development (USAID), which has been scrutinized by Trump's administration. Black's background includes roles at Goldman Sachs and Apollo Global Management, and he currently runs Fortinbras Enterprises, an investment firm. Despite his impressive credentials, Black's selection was unexpected due to his limited experience in foreign policy.

Black's criticism of USAID aligns with Trump's previous actions to reduce the agency's budget, which accounts for less than 1% of the federal budget. The move to shift funding responsibilities to the DFC could significantly impact USAID's future operations and the way the U.S. approaches foreign development. This decision comes amid ongoing legal challenges faced by Black's father, Leon Black, connected to his financial dealings with Jeffrey Epstein, highlighting potential reputational risks. The story underscores the complexities of political appointments and the broader implications on U.S. international aid strategy.

Donald Trump Foreign Policy Usaid Jeffrey Epstein Ben Black Leon Black U.S. International Development Finance Corporation Substack

Story submitted by Fairstory

RATING

7.0

Fair Story

Consider it well-founded

The article provides a comprehensive overview of Ben Black's nomination to lead the U.S. International Development Finance Corporation, highlighting his professional background and the influence of his family's wealth. It accurately presents key facts, supported by credible sources, though it could benefit from more transparency regarding certain claims and a broader range of perspectives. The story is timely and engages with significant public interest topics, such as the management of U.S. foreign aid and political appointments. While the article is clear and accessible, its impact could be enhanced by exploring the implications of Black's proposals and the potential consequences of his nomination in greater depth.

Accuracy

The story appears largely accurate, with most claims verifiable through external sources. For instance, the nomination of Ben Black by President Trump and his professional background are consistent with public records and reports. However, the story does not provide detailed information about Black's Substack post, which is a critical element in understanding his nomination. Additionally, while the story correctly mentions Leon Black's financial dealings with Jeffrey Epstein, it could benefit from more context regarding the implications of these transactions.

Balance

The article primarily focuses on Ben Black's nomination and his family background, presenting a perspective that might lean towards emphasizing the influence of wealth and connections. It briefly touches on criticisms regarding Black's lack of experience but does not explore alternative viewpoints or potential benefits of his nomination. The absence of voices from those who might support or oppose the nomination leaves the piece somewhat imbalanced.

Clarity

The article is well-structured and uses clear language to convey the main points, such as Ben Black's professional history and his father's financial controversies. The information flows logically, making it easy for readers to follow. However, the inclusion of more detailed explanations for some claims, like the implications of Black's ideas for USAID funding, would improve comprehension.

Source quality

The article references credible sources such as Forbes, Bloomberg, and The New York Times for financial and professional background information. However, it relies on unnamed sources for opinions about the surprise of Black's nomination, which could affect the reliability of those claims. The story would benefit from more direct quotes or statements from involved parties to bolster its authority.

Transparency

The article provides a reasonable amount of context about Ben Black's background and the controversy surrounding his father's financial dealings. However, it lacks transparency regarding the basis for some claims, such as the specific content of Black's Substack post and the unnamed sources' insights. Greater clarity on these fronts would enhance the story's transparency and reader trust.