The Trump family has raked in an astonishing $3.4 billion over his two presidencies, new report claims
The New Yorker reports that Trump and his family have pocketed an estimated $3.4 billion thanks to his two terms as president. Its tally includes profits from cryptocurrencies, the president's MAGA-branded merchandise and his Mar-a-Lago estate.
The outlet estimated that, thanks to Trump's two presidencies, the family has made $2.37 billion from cryptocurrency; $339.6 million from financial ventures; $270.8 million from hospitality; $116 million from media; and $277.7 million across other sources, including his private jet, legal fees and merchandise.
In response to this report, White House Press Secretary Karoline Leavitt told The Independent: ' The claims that this President has profited from his time in office are absolutely absurd — in comparison to what he could have made if he didn't have to deal with the fake news and corrupt political opponents, the President has lost hundreds of millions of dollars to serve this country.'
'The American people love him precisely because he is a successful businessman, not in spite of it,' Leavitt added. 'The Trump Family is highly respected for always conducting their dealings by the book, unlike past presidents, such as the Biden Crime Family. President Trump has always practiced integrity and transparency, which is why he is and has been forthcoming in sharing his financial disclosures.'
Much of the Trump family's estimated earnings have come from various cryptocurrency ventures, The New Yorker reports. This includes an estimated $385 million in profit from the coins $TRUMP and $MELANIA, which he launched just before Trump took office in January, according to the outlet.
The Independent has reached out to the Trump Organization and Trump Media for comment.
While the president has embraced cryptocurrency, so have his allies. About one in five of Trump's high-level cabinet picks hold significant assets in cryptocurrency, according to a July analysis by The Washington Post. At the time, White House spokesperson Harrison Fields said these figures reflected the success Trump's picks had in the private sector and insisted there were no conflicts of interest.
In addition to his cryptocurrency ventures, The New Yorker estimates Trump has made an estimated $27.7 million from his Trump Store merchandise. The outlet noted that Trump is the first Presidential candidate to run a private online store, which competes with his campaign to sell MAGA merchandise.
The New Yorker's total included an estimated $1.3 million from Trump's 'God Bless the USA' Bibles and $2.8 million from Trump-branded watches. These figures were previously reported in Trump's 2024 financial disclosure report, which was released in June. Trump reported more than $600 million in income on the form, according to Reuters.
The New Yorker estimates Trump's presidencies have also generated an extra $125 million in profit from his Mar-a-Lago estate in Florida. This estimated extra profit came, in part, from Trump's own campaign events at the club, as well as events held by other GOP candidates, organizations and high-profile figures, the outlet reports.
In its estimate, The New Yorker also included an estimated $100 million from supporters' contributions that Trump reportedly used to pay for legal fees. While a political campaign fund can't be used for a candidate's personal legal battles, a loophole allowed him to convert campaign funds into political action committees, which are subject to looser restrictions, the outlet claimed.
This cash funded his defense across several cases, including Trump's historic hush money trial last year, according to the report. In that case, a Manhattan jury found Trump guilty of 34 counts of falsifying business records to cover up a payoff to adult film star Stormy Daniels during his 2016 campaign. Trump has denied any wrongdoing and is appealing the conviction.
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