In addition, the new gold-colored "T1" smartphone is currently available for pre-order on the Trump Mobile website for $499, and is set to be released in September. In its press release on Monday, the Trump Organization said that it would be releasing the T1 Phone in August.

The Trump company announced Monday a new business, Trump Mobile, that will offer cell service in a licensing deal and sell gold phones by the summer. It’s the latest in a string of new ventures struck despite mounting ethical concerns that the U.S. president is profiting off his position and could distort public policy for personal gain.

Trump’s sons, Eric Trump and Donald Trump Jr., unveiled the service, dubbed T1 Mobile, Monday at Trump Tower in New York on the 10-year anniversary of their father’s announcement that he would run in the 2016 presidential election.