What Donald Trump's first financial filing reveals about his earnings and ventures
US President Donald Trump revealed earning hundreds of millions of dollars from cryptocurrency investments, golf clubs and licensing deals ventures in a public financial disclosure report released on Friday. He reported $57.35 million from token sales at World Liberty and holding 15.75 billion governance tokens in the venture.
An estimated $320 million in fees were generated from a meme coin released earlier this year by the president, though it's unclear how that amount was split between a Trump-controlled entity and its partners.
Beyond the meme coin earnings, the Trump family has also brought in over $400 million from World Liberty Financial, a decentralised finance firm, founded in 2024 by Zach Witkoff, son of Steve Witkoff, the president's envoy for Ukraine-Russia peace talks and Iran negotiations. Trump's three sons, Donald Jr., Eric, and Barron are co-founders as well.
He reported $1.16 million in income from his NFTs, digital trading cards featuring his image, while First Lady Melania Trump raked in approximately $216,700 in licensing fees from her own NFT collection.
The disclosure revealed income from a range of assets, including Trump's Florida properties. His three golf resorts in the state, Jupiter, Doral, and West Palm Beach, along with the Mar-a-Lago private club, brought in at least $217.7 million.
It further showed $5 million in licensing fees from a development project in Vietnam.
Additionally, Trump earned royalties from several ventures, namely $1.3 million from the Greenwood Bible (billed as 'the only Bible officially endorsed by Lee Greenwood and President Trump'), $2.8 million from Trump Watches, and $2.5 million from Trump Sneakers and Fragrances.
The White House has stated that Trump's assets are held in a trust managed by his children during his second term, and insists that none of his business interests pose a conflict, according to a New York Post report.
It further says the liabilities section of the disclosure reveals that Trump still owes over $100 million in mortgage loans for various properties, including Trump Tower in Manhattan and Trump National Doral Golf Club in Miami. The president also listed the $88 million in damages awarded by a jury to E. Jean Carroll, the former magazine columnist who sued him for sexual assault and defamation. Additionally, the $454 million civil fraud judgement secured by New York Attorney General Letitia James is included. Trump notes that all judgments have been 'stayed pending appeal".
The annual financial disclosure form, seemingly covering the 2024 calendar year, shows that the president's involvement in cryptocurrency significantly boosted his wealth. He also reported substantial fees from property developments and income from his other businesses.
Signed on June 13, the disclosure did not specify the exact period it covered. However, details within the cryptocurrency listings and other information suggest it covers up to the end of December 2024, thereby excluding most of the funds raised by the family's cryptocurrency ventures.
(With inputs from Reuters)
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