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

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 Scott, who made a fortune in the health-care industry and other businesses before entering politics, has put his investments in a blind trust while serving as governor. OrlandoSentinel.com, "Gov. Rick Scott's net worth tops $232 million," 29 June 2018 Democrats have also raised conflict of interest questions based on Scott’s personal wealth growing during his time in office (Scott has put his money in a blind trust that remains the subject of a lawsuit). Alex Leary And Steve Bousquet, miamiherald, "Bill Nelson faces long, hard path to reelection in his toughest campaign in years," 18 June 2018 Instead of setting up a blind trust to avoid conflicts of interest, as other presidents have done, Trump put his two grown sons in charge of his more than 500 business entities. Nick Tabor, Daily Intelligencer, "501 Days in Swampland," 1 Apr. 2018 In the past 40 years, every other president has either sold his businesses or put them into a blind trust, in which an independent trustee is named to manage the businesses and the president is barred access. Washington Post, "10 key questions about the ethical issues surrounding President Trump’s company," 7 Mar. 2018 Chuck, on the other hand, is part of a New York dynasty, a Yalie with a power-player dad and a blind trust fund. Rachel Syme, The New Republic, ""Billions" reckons with the inflated egos and muddled ethics of Wall Street.," 24 Apr. 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

17 Sep 2018

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The first known use of blind trust was in 1969

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