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President Trump announced plans to demolish the White House East Wing to build a $300M ballroom seating 650 guests. The privately funded project expands his remodeling efforts and preserves the main structure.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump said the White House is demolishing the East Wing to build a ballroom,
00:06expanding the scope of the project beyond earlier plans, according to the Wall Street Journal.
00:09Trump said he chose to demolish the East Wing after consulting with architects,
00:13describing it as a very small building,
00:15adding that the main structure of the White House will remain untouched.
00:18Trump said the ballroom will cost $300 million, up from the previous $250 million estimate.
00:23White House officials said the 90,000-square-foot venue will seat more than 650 guests,
00:27over triple the East Wing's capacity.
00:30Trump said the new ballroom will be funded through private donations
00:32as part of his broader White House remodeling efforts.
00:35He's also proposed adding a large white arch near Arlington National Cemetery.
00:39For all things money, visit Benzinga.com.
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