blind trust

noun

Definition of blind trust

: an arrangement in which the financial holdings of a person in an influential position are placed in the control of a fiduciary in order to avoid a possible conflict of interest

Examples of blind trust in a Sentence

Recent Examples on the Web

Floridians deserve a governor who complies with the spirit of what a blind trust is meant to do. Amy Lieu, Fox News, "Florida Gov. Rick Scott much wealthier than previously reported, data show," 28 July 2018 But the report showed the value of the blind trust at $215 million as of the end of 2017, up from $130.5 million at the end of 2016. OrlandoSentinel.com, "Gov. Rick Scott's net worth tops $232 million," 29 June 2018 The governor reported that in 2017 his blind trust ballooned in value from $130 million to $215 million. Mary Ellen Klas, miamiherald, "Florida Gov. Rick Scott's net worth climbs $83 million in 2017," 29 June 2018 At the behest of CFIUS, HNA set up a blind trust and transferred its ownership stake in the building to that trust, said a person familiar with the matter. Esther Fung, WSJ, "U.S. Orders Chinese Company to Sell Manhattan Building Near Trump Tower," 10 Aug. 2018 But admitting that algorithms, like humans, have flaws should diminish our blind trust of their authority and lead to fewer mistakes. Hannah Fry, WSJ, "Don’t Believe the Algorithm," 5 Sep. 2018 Schuette's campaign said real estate is not included in blind trusts because sales are public and present no conflict of interest. David Eggert, Detroit Free Press, "Bill Schuette discloses personal assets: What he's worth," 25 May 2018 In Florida, Republican Gov. Rick Scott put his substantial fortune in a blind trust. Luke Broadwater, baltimoresun.com, "As governor, Larry Hogan's real estate business continues to thrive — prompting questions," 13 July 2018 These often include a blind trust, in which the owner does not know how the assets are managed by an independent third party. Luke Broadwater, baltimoresun.com, "As governor, Larry Hogan's real estate business continues to thrive — prompting questions," 13 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'blind trust.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of blind trust

1969, in the meaning defined above

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Last Updated

19 Feb 2019

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The first known use of blind trust was in 1969

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