The Trump Family Raked in $620 Million in Six Months, Cryptocurrency "Money Printing" Outperformed Three Generations of Family Business

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Taking Presidential Privilege to the Extreme: Family Crypto Earnings = Profit of 5 Golf Courses for a Year

Original Title: Trump's $620 Million of Quick Crypto Riches Reshapes His Fortune

Original Authors: Tom Maloney, Annie Massa, Demetrios Pogkas, Bloomberg

Original Translation: Luffy, Foresight News

In December 2024, a photo of Donald Trump holding Bitcoin is displayed at a Coinhero store in Hong Kong, marking Bitcoin's price surpassing $100,000 for the first time. Image Source: Bloomberg

At first glance, Donald Trump's personal net worth seems largely unchanged since his return to the White House: $65 billion on Election Day and now $64 billion. However, a deeper look into the data reveals a significant shift in how he and his family have consolidated their wealth empire, leveraging their fame, influence, and power to achieve gains at an unprecedented pace.

Whether applying his brand to real estate projects or associating it with perfumes and mattresses, the Trump family has long used licensing deals to make quick money, a stark departure from the lengthy planning and execution cycles typically seen in real estate development. With the addition of cryptocurrency, the Trump family has further accelerated the pace of monetizing their brand.

Coupled with the relaxation of restrictions on overseas transactions during Trump's second term, this has set the stage for a wealth extravaganza. According to the Bloomberg Billionaires Index, cryptocurrency investments have brought Donald Trump at least $620 million in wealth appreciation in a matter of months. The index for the first time valued the gains made by the Trump family from projects like World Liberty Financial and Trump Meme Coin (TRUMP).

The intertwining of Trump's wealth with cryptocurrency and Memecoin is growing stronger. Source: Bloomberg Billionaires Index (Note: Excludes liabilities. Publicly traded assets in the latest valuations as of the end of June.)

More and more cryptocurrencies and obscure companies are deriving value from their association with Trump and his "Make America Great Again (MAGA)" movement, with the money earned by these cryptocurrencies and companies far surpassing the $34+ million in revenue the Trump Organization made last year through real estate licensing deals. Eric Trump, Executive Vice President of the Trump Organization and son of Trump, stated, "I am immensely proud of our fantastic company; we have never been stronger."

While President Trump's assets are held in a trust fund managed by Donald Trump Jr., he still directly benefits from the success of the Trump Organization, with Bloomberg's Billionaires Index attributing various family interests to the patriarch. Currently, many private investments involving Trump's children have not been included, as details of their financial interests remain unclear. These include the Executive Branch private club in Washington, Metaplanet—transformed from a Japanese hotel company into a Bitcoin accumulator, broadcast and podcast company Salem Media Group Inc., prediction market startup Kalshi, and online pharmaceutical retailer BlinkRX.

Despite Trump and his children venturing into the cryptocurrency realm, Eric Trump and Donald Trump Jr. have been making appearances at events in Abu Dhabi, Washington, Dubai, and Las Vegas since December, sometimes separately and sometimes together. However, one of the biggest drivers of Trump's personal wealth has been a long-gestating domestic project.

Eric Trump (left) and Donald Trump Jr. at the Bitcoin 2025 Conference. Image Source: Bloomberg

In January of this year, Trump National Doral received approval to build approximately 1,500 luxury condos on the site, a long-standing goal of the Trump family that required extensive community outreach. According to Bloomberg, this project has skyrocketed the value of this over 600-acre resort in the Miami suburbs, featuring four golf courses and over 600 guest rooms, from its previous $350 million to $1.5 billion.

Simultaneously, there has been intense volatility in Trump's publicly listed social media company, Trump Media & Technology Group Corp. As the parent company of Truth Social, the company reported a net loss of $401 million last year but added over $40 billion to Trump's wealth in October. Today, despite the company's attempts to enter the finance and Bitcoin space, Trump's stake is valued at $20 billion.

However, the frenzy around Trump-related crypto projects has provided the family with a new avenue for profit. One of the most notable is World Liberty Financial, a platform selling proprietary tokens and issuing a stablecoin named USD1. USD1 is a cryptocurrency designed to peg to the value of the dollar. The Trump family profits from this project through token sales, holding a portion of the parent company, and holding its World Liberty Financial tokens.

As of March, World Liberty has sold tokens worth $5.5 billion. According to Bloomberg's calculations, about $3.9 billion of that went to the Trump family. The Trump family also holds 225 billion tokens, valued at over $20 billion based on the June token's market price. Since these tokens are non-transferable, they are excluded from Trump's net worth calculation, although the company recently indicated that this situation may soon change. According to detailed information on the company's website, the Trump family reduced its stake in World Liberty from 60% to 40% last month. The identity of the buyer is currently unknown, as well as what the Trump family gained from this divestment.

World Liberty also launched the stablecoin USD1. Abu Dhabi-based tech investment firm MGX stated that it would invest $20 billion in the cryptocurrency exchange platform Binance using this token, significantly increasing the circulation of USD1. According to The Wall Street Journal, Binance founder Zhao Changpeng has been seeking a presidential pardon following admission of violating U.S. anti-money laundering laws. He currently serves as an advisor to World Liberty alongside cryptocurrency industry leaders Justin Sun and the Chairman of the Pakistan Cryptocurrency Board, Bilāl ibn Sakībū.

Donald Trump attending the Bitcoin 2024 Conference in Nashville. Image Source: Bloomberg

Based on Bloomberg's calculations, World Liberty is valued at around $14 billion when extrapolated from the market capitalization of stablecoin issuer Circle Internet Group Inc. and the USDC circulation. Due to the limited adoption of USD1, Bloomberg did not include it in Trump's net worth, but its $2.2 billion circulation implies that World Liberty may earn around $100 million from reserves this year.

Another Memecoin named after a president (TRUMP) was launched in the first two days of his inauguration. As TRUMP's price rises, the Trump family benefits: Fight Fight Fight and Trump Group's subsidiary CIC Digital hold 80% of the TRUMP supply, with some tokens gradually unlocking and being sold over three years. Memecoin has no intrinsic value and its trading is entirely based on market sentiment.

Trump's Memecoin (TRUMP) has been gaining popularity due to its connection to the current president's family, and its demand surged even further after a competition held in May this year. The competition invited 220 of the largest TRUMP token holders to attend a private dinner with Trump at Trump National Golf Club in Virginia and hear a speech by him. Justin Sun was also a guest, and he posted a selfie wearing a black tie on his way to the event venue, Trump National Golf Club in Virginia. Guests enjoyed filet mignon and pan-seared halibut, while protesters outside held signs calling it a "scam event."

Valuing Memecoin is very challenging, usually because the token's creator holds the vast majority of the supply, and once sold, the market crashes. Cryptocurrency risk modeling company Gauntlet found that the digital wallets associated with the creation of Memecoin TRUMP hold nearly 17 million TRUMP tokens. These wallets have additionally transferred around 17 million TRUMP tokens to cryptocurrency exchanges.

On May 22, outside Trump National Golf Club in Sterling, Virginia, activists from the "Our Revolution" organization held a demonstration. On the same day, a private dinner with Trump was held at the Trump National Golf Club, inviting 220 of the largest TRUMP token holders. Photo Source: AP Photo

The Trump Organization holds 40% of the total supply of TRUMP tokens, which is the same as its disclosed ownership stake in World Liberty Financial. According to Bloomberg's calculations, factoring in large liquidity discounts and accounting for nearly $300 million in trades and sale proceeds, Trump's Memecoin investment is worth around $150 million, not including the 8 billion tokens that will begin unlocking later this month and over the next three years. At the current price, the value of these 8 billion tokens exceeds $7 billion.

Although World Liberty Financial and TRUMP were initially two separate projects, they have now intersected in at least one way: Eric Trump revealed that World Liberty Financial plans to accumulate a significant amount of TRUMP tokens to serve as the company's cryptocurrency asset reserve.

In addition, the Trump family holds a trump card in the cryptocurrency space. American Bitcoin, a spinoff entity from a small investment bank owned by Trump, is planning to go public, adding another cryptocurrency-derived wealth to the Trump family. American Bitcoin, which was formed in February this year, initially focused on artificial intelligence infrastructure and data centers, according to a press release. By March, the company had devised a new strategy, shifting towards the cryptocurrency field and rebranding.

Bitcoin miner Hut 8 Corp. has agreed to acquire a majority stake in American Bitcoin and transfer nearly all of its cryptocurrency mining equipment. Hut 8 Corp. plans to merge with Gryphon Digital Mining Inc., a Nasdaq-listed low-market-cap company, to take the entire company public. The Trump family and its partners hold a 20% stake in American Bitcoin.

According to Bloomberg's calculations, Gryphon's stock price would value the new joint venture at over $3 billion. Considering that the main assets of the new company will be the Bitcoin mining equipment provided by Hut 8 (with a book value of around $120 million), the $3 billion valuation seems inflated by any traditional valuation standards. However, as with many of the assets and businesses that make up Trump's new wealth, fundamentals are often not the focus.

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