According to his annual financial disclosure filed with the U.S. Office of Government Ethics and released on 30/6, Donald Trump amassed nearly 1,2 billion USD from his cryptocurrency businesses last year.
His company, World Liberty Financial, generated over 500 million USD by selling new crypto products, including governance tokens. These tokens allow holders to vote on certain project decisions.
Another Trump cryptocurrency venture, CIC Digital LLC, also brought in over 635 million USD by issuing the $TRUMP meme coin. Meme coins are cryptocurrencies created from internet jokes, such as celebrities, animals, and pop culture trends, with Doge being the most famous. These digital assets lack inherent blockchain technology value or real utility, often created for entertainment or speculation, with prices capable of fluctuating thousands of times.
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U.S. President Donald Trump at the White House on 15/5. *AP* |
Both the governance tokens and the $TRUMP meme coin have significantly dropped in value since their release, resulting in losses for investors.
Though only startup companies when President Trump took office, these new crypto projects surpassed in revenue most of the vast real estate portfolio he accumulated over decades. Their rapid growth was fueled by two billionaire investors and Trump's own efforts to prevent a federal crackdown on the crypto industry.
Beyond cryptocurrency, President Trump also earned millions of USD last year from selling Bibles, sneakers, and various Trump-branded merchandise, an unprecedented move for a U.S. president. Revenue from Trump-branded watches alone reached 4,7 million USD.
While the rise of the crypto sector is notable, real estate remains the foundation of Trump's wealth. Over the past year, he still generated tens of millions of USD from licensing fees and payments from a series of new overseas hotel, resort, and condominium projects.
This marks the largest real estate business expansion in the over one-century history of the corporation founded by the Trump family.
A project in the United Arab Emirates (UAE) brought him 10,4 million USD. A project in Saudi Arabia, built by a real estate developer with close ties to the country's royal family, transferred 9 million USD to the U.S. President's company. Meanwhile, two deals in Romania and Qatar brought in 10 million USD.
By Huyen Le (Based on reports from AP, CBS News)
