Trump Declares Over $600 Million in Cryptocurrency, Golf Course, and Licensing Revenue
In a revealing financial disclosure report, released on Friday, Donald Trump provided an insight into the multibillion-dollar business empire of the U.S. president. The report, although seemingly covering the 2024 calendar year, gives a glimpse of Trump's vast business holdings.
The report showed a significant push into cryptocurrency, which added significantly to his wealth. However, other lucrative ventures like golf clubs, licensing, and developments also contributed to his assets, which are estimated to be worth at least $1.6 billion.
While Trump claims to have placed his businesses in a trust managed by his children, the disclosures highlight that income from these sources still accrues to the president, raising concerns about potential conflicts of interest. Some of Trump's businesses have benefited from U.S. policy shifts under him, making them a source of criticism.
The White House declined to comment on the matter. The financial disclosure was signed on June 13, but it didn't state the time period it covered. The details in the disclosure suggest it was through the end of December 2024, omitting most of the money earned by the family's crypto ventures.
As Trump's family rapidly expanded their crypto investments during his tenure, the filing serves as a time capsule, capturing a period when the family was just starting to delve into crypto but was primarily focused on real estate deals and golf clubs.
One of the meme coins launched by Trump earlier this year, $TRUMP, has reportedly generated an estimated $320 million in fees. The division of this amount between a Trump-controlled entity and its partners remains unknown. In addition to the meme coin fees, the Trump family has earned more than $400 million from World Liberty Financial, a decentralized finance company. They are also involved in a bitcoin mining operation and digital asset exchange-traded funds.
According to the disclosures, Trump reported $57.35 million from token sales at World Liberty. He also held 15.75 billion governance tokens in the venture.
Trump's wealth consists of a diverse range of assets, from crypto to real estate, with a significant portion tied to his stake in Trump Media & Technology Group, owner of social media platform Truth Social. Besides assets and revenues from his business ventures, the president reported at least $12 million in income from passive investments worth at least $211 million.
His biggest investments were in alternative fund manager Blue Owl Capital Corp and government bond funds managed by Charles Schwab and Invesco. The disclosure often gave ranges for the value of his assets and income; a detailed analysis shows that the total value of his assets and income was likely higher than reported.
Income from various assets, including Trump's properties in Florida, generated at least $217.7 million. Trump National Doral was the family's single largest income source at $110.4 million. The income figures provided are essentially revenues, not net profits after subtracting costs.
The disclosure also underlined the global nature of the Trump family business, listing income from development fees from projects in Vietnam, India, and almost $16 million in licensing fees for a Dubai project. Trump collected royalties from a variety of deals, including $1.3 million from the Greenwood Bible and $2.8 million from Trump Watches and Fragrances.
Trump reported $1.16 million in income from his NFTs (digital trading cards in his likeness), while First Lady Melania Trump earned around $216,700 from license fees on her NFT collection.
Despite the report being based on 2024 disclosures, the most recent available federal financial disclosures are actually from 2023. However, here's a summary of Donald Trump's income streams from his primary areas of interest—cryptocurrency, golf clubs, licensing, and other business ventures—based on his 2023 disclosure:
- Cryptocurrency: While Trump did not hold significant direct crypto investments, he profited from NFT licensing deals.
- Golf Clubs and Resorts: Trump owns a portfolio of golf clubs and resorts worldwide, with tens of millions of dollars in annual combined revenue.
- Licensing Deals: Trump monetized his name through real estate, hospitality, and merchandise. The NFT projects and branded merchandise fall under this category and have generated significant revenue.
- Other Ventures: Books, media, and occasional speaking engagements form part of Trump's income.
While the 2024 disclosure has not been made available as of December 2023, future disclosures will continue to use income ranges, making exact figures difficult to determine.
- The disclosures revealed that Trump's wealth is not limited to real estate and golf clubs, as he has also ventured into the lucrative field of technology, specifically in the areas of cryptocurrency, digital finance, and NFTs.
- In addition to traditional business areas such as finance, politics, and general-news, Trump's diversified portfolio now includes a significant stake in the burgeoning cryptocurrency market, with NFT licensing deals and crypto-related ventures contributing substantially to his assets.
