Trump Amassed Fortune with Bibles, Mementos, and Timepieces, Recent Disclosures Indicate
Fresh Take:
Donald Trump's Business Empire: The 45th president has raked in millions from his family's crypto venture, golf clubs, and a range of merchandise, according to financial records released recently. Here's a rundown of Trump's latest income sources.
One of his biggest earnings came from a $57 million token sale through WLF Holdco LLC, a company that owns World Liberty Financial Inc., a Trump family-owned crypto venture run in part by his sons. Moreover, Trump owns approximately between $1 million and $5 million worth of Ethereum, a cryptocurrency.
Trump campaigned on being the most crypto-friendly president, promoting a more hands-off approach to digital asset regulation compared to previous administrations.
These disclosures mark the first financial updates since Trump resumed the presidency in January, offering a glimpse into recent earnings from deals struck during his 2022 campaign.
When questioned about Trump's diverse business ventures, White House press secretary Karoline Leavitt stated that Trump has been transparent. She noted that Trump and his team had completed ethics briefings and financial reporting obligations.
Federal law does not require presidents to divest their holdings, but past presidents have taken steps to do so or wall them off in a blind trust. Trump's assets are managed by his children, while he remains the owner and beneficiary of his real estate and branding empire.
Friday's filings revealed millions in royalties earned from licensing deals with companies using Trump's name, image, and likeness for various products, such as watches, sneakers, and even a Bible. Trump made more than $1.3 million from selling the "God Bless the USA" Bible during his 2022 campaign. He also bagged $2.8 million from sales of "Trump Watches" and $2.5 million from Trump sneakers and fragrances.
The documentation also revealed significant civil judgments looming over Trump. He owes the New York attorney general more than $50 million, as well as E. Jean Carroll, a former magazine columnist who accused Trump of rape and defamation. An appeals court recently declined Trump's request to review a $5 million judgment against him in the Carroll case.
Trump also faces another $83 million jury verdict in a second judgment won by Carroll. Additionally, he owes more than $50 million in a civil fraud case brought by New York Attorney General Letitia James, which Trump is appealing.
Trump's private clubs bring in substantial income, with his flagship property, Mar-a-Lago, generating over $50 million in revenue in the last year. The disclosures also shed light on the speaking fees earned by first lady Melania Trump during the 2022 campaign, such as the $475,000 paid by the Log Cabin Republicans for a speaking engagement in New York.
Financial Snapshot: President Donald Trump disclosed a significant income of nearly $60 million from a crypto venture[3]. His and his family's business ventures have substantial assets, but detailed income breakdowns are not publicly available[5]. The financial performance of Trump's private golf clubs and other businesses is not explicitly compared to his disclosed income in the available public records.
In comparison to Trump's wealth, Vice President JD Vance's disclosed assets are much lower, with royalties from his 2016 memoir "Hillbilly Elegy" amounting to between $50,001 and $100,000[5].
- The 45th president, Donald Trump, has been earning income from various business ventures, including a Trump family-owned crypto venture called World Liberty Financial Inc., for which he made $57 million through a token sale.
- Trump's diverse business ventures extend beyond cryptocurrency, with millions in royalties earned from licensing deals for products such as watches, sneakers, and a Bible.
- In addition to his business earnings, Trump faces significant civil judgments, including over $50 million owed to the New York attorney general and a court-awarded $5 million judgment from E. Jean Carroll, a former magazine columnist who accused Trump of rape and defamation.
- President Trump's financial report also includes income generated by his private clubs, such as his flagship property, Mar-a-Lago, and speaking fees earned by First Lady Melania Trump during the campaign, like the $475,000 paid by the Log Cabin Republicans for a speaking engagement in New York.
