Asia First - Fri 13 Jun 2025
02:29:20 Min
Asia First
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CNA
an hour ago
- CNA
Trump reports more than US$600 million in income from crypto, golf, licensing fees
Donald Trump reported more than US$600 million in income from crypto, golf clubs, licensing and other ventures in a public financial disclosure report released on Friday (Jun 13) that provided a glimpse of the vast business holdings of America's billionaire president. The annual financial disclosure form, which appeared to cover the 2024 calendar year, shows the president's push into crypto added substantially to his wealth but he also reported large fees from developments and revenues from his other businesses. Overall, the president reported assets worth at least US$1.6 billion, a Reuters calculation shows. While Trump has said he has put his businesses into a trust managed by his children, the disclosures show how income from those sources still ultimately accrues to the president - something that has opened him to accusations of conflicts of interest. Some of his businesses in areas such as crypto, for example, benefit from US policy shifts under him and have become a source of criticism. The White House did not immediately respond to a request for comment. The financial disclosure was signed on Jun 13 and did not state the time period it covered. The details of the cryptocurrency listings, as well as other information in the disclosure, suggest it was through the end of December 2024, which would exclude most of the money raised by the family's cryptocurrency ventures. Given the speed at which the Trump family has made deals during his ascent to the presidency, the filing is already a time capsule of sorts, capturing a period when the family was just starting to get into crypto but was largely still in the world of real estate deals and golf clubs. A meme coin released earlier this year by the president - $TRUMP - alone has earned an estimated US$320 million in fees, although it's not publicly known how that amount has been divided between a Trump-controlled entity and its partners. In addition to the meme coin fees, the Trump family has raked in more than US$400 million from World Liberty Financial, a decentralised finance company. The Trump family is involved, also, with a bitcoin mining operation and digital asset exchange-traded funds. In the disclosures, Trump reported US$57.35 million from token sales at World Liberty. He also reported holding 15.75 billion governance tokens in the venture. TRUMP MEDIA The wealth of the Republican businessman-turned-politician ranges from crypto to real estate, and a large part on paper is tied up in 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 US$12 million in income, including through interest and dividends, from passive investments totalling at least US$211 million, a Reuters calculation shows. His biggest investments were in alternative fund manager Blue Owl Capital Corp and in government bond funds managed by Charles Schwab and Invesco. The disclosure often only gave ranges for the value of his assets and income; Reuters used the lower amount listed, meaning the total value of his assets and income was almost certainly higher. The disclosure showed income from various assets including Trump's properties in Florida. Trump's three golf-focused resorts in the state - Jupiter, Doral and West Palm Beach - plus his nearby private members' club at Mar-a-Lago generated at least US$217.7 million in income, according to the filing. Trump National Doral, the expansive Miami-area golf hub known for its Blue Monster course, was the family's single largest income source at US$110.4 million. The income figures provided are essentially revenues, not net profits after subtracting costs. The disclosure underlined the global nature of the Trump family business, listing income of US$5 million in license fees from a development in Vietnam, US$10 million in development fees from a project in India and almost US$16 million in licensing fees for a Dubai project. Trump collected royalty money, also, from a variety of deals - US$1.3 million from the Greenwood Bible (its website describes it as "the only Bible officially endorsed by Lee Greenwood and President Trump"); US$2.8 million from Trump Watches, and US$2.5 million from Trump Sneakers and Fragrances. Trump listed US$1.16 million in income from his NFTs - digital trading cards in his likeness - while First Lady Melania Trump earned around US$216,700 from license fees on her own NFT collection.
CNA
3 hours ago
- CNA
Boeing resumes China deliveries with 787-9 jet to Juneyao Airlines: Report
China and the US concluded two days of negotiations in London on Tuesday to resolve key trade issues in the two superpowers' bruising tariff war, where negotiators from Washington and Beijing agreed on a framework covering tariff rates. On Monday, a new Boeing 737 MAX painted in the livery of Xiamen Airlines landed in China, adding to signs that the planemaker was resuming deliveries to China. The country represents about 10 per cent of Boeing's commercial backlog and is an important and growing aviation market. Boeing had previously said customers in China would not take delivery of new planes due to the tariffs and that it was looking to resell potentially dozens of aircraft.
CNA
4 hours ago
- CNA
Vietnam admitted as BRICS 'partner country', Brazil says
SAO PAULO: Vietnam has been formally admitted as a "partner country" of the BRICS group of major emerging economies, Brazil's government said on Friday (Jun 13), as the bloc presses ahead with an expansion push. Vietnam is the tenth nation to receive this status, which allows invited countries to participate in BRICS summits and other discussion sessions. Vietnam had expressed earlier this year it was ready to discuss a partnership with BRICS, whose original members were Brazil, Russia, India and China. "The government of Brazil welcomes the decision of the Vietnamese government," said the South American country, which holds the bloc's presidency in 2025. "Vietnam stands out as a relevant actor in Asia. Its efforts in favor of South-South cooperation and sustainable development reinforce its convergence with the interests of the group," it added. Founded in 2009 and soon expanded to add South Africa, the group has recently also included Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates, making it a growing diplomatic counterweight to traditional Western powers.
