Did Barron Trump really make millions from family's cryptocurrency ventures? Here's the truth
Barron Trump, the 47th President's youngest son, may have made millions of dollars from the sale of cryptocurrency tokens connected to the family's successful foray into the digital token market, according to a new report. Barron Trump is listed as a "co-founder" of World Liberty Financial(AFP)
According to Forbes, Barron, a 19-year-old student at New York University, could have received a handsome $40 million, or $25 million after taxes, through the sale of digital assets by World Liberty Financial. It is a firm owned by the Trump family that was established nine months ago after the First son convinced his father and elder brothers of the advantages of cryptocurrency.
Following its launch, Trump stated in an interview last year that 'Barron knows so much about this (cryptocurrency).'
'Barron's a young guy, but he knows it — he talks about his wallet. He's got four wallets or something, and I'm saying, 'What is a wallet?'' What is World Liberty Financial?
World Liberty Financial (WLF), a decentralized finance network that began operations in late 2024, is promoting its own coin $WLFI. The platform touts President Trump as its 'Chief Crypto Advocate,' and the Trump family owns 60% of the business and is eligible to receive 75% of token sales proceeds.
World Liberty, which has helped Trump family to see surge in their finances, declared that it had sold $550 million worth of tokens in March.
Last week, President Trump announced in an Office of Government Ethics report that he had earned $57 million from the sale of tokens.
Additionally, it stated that the real estate tycoon owned 75% of his umbrella business, DT Marks Defi LLC, with the remaining 25% being owned by unidentified 'third parties.'
Also Read: US warns its residents amid evacuation from Israel as Americans narrate harrowing ordeal; 'If given an option…' What is Barron Trump's position in the company?
In addition to the Trump, Barron is identified as a "co-founder" of World Liberty Financial, along with the president's two other sons Donald Trump Jr. and Eric Trump.
Barron reportedly possessed a 7.5% share in the Delaware-based umbrella company, according to Forbes, which offered no concrete proof for its assertions of his enormous digital profit.
According to Forbes, the share would be identical to what the NYU freshman owns in the hotel owned by the Trump Organization in Washington, DC. SEC filing did not mention Barron Trump's name
However, the company's only SEC filing dated October 30 of last year did not include Barron's name.
Middle East diplomat Steve Witkoff and his son Zachary are mentioned as corporate partners in the enterprise.
According to a Bloomberg report, Trump's net wealth has quadrupled since the beginning of his 2024 campaign and it is estimated to be above $5.4 billion.
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