Latest news with #WLFHoldcoLLC
Axios
12 hours ago
- Business
- Axios
Crypto, wallets, bibles: Trump's assets top $1.6 billion in latest disclosure
President Trump has made the presidency extremely profitable for himself. Why it matters: Trump continues to pursue wealth-building avenues tied to his political agenda as Democrats continue to allege massive conflicts of interest. Driving the news: The Trump Organization announced a phone business as its next venture on Monday, on the 10th anniversary of Trump announcing his first White House run. By the numbers: Trump reported more than $600 million in income from his cryptocurrency venture and a broad range of merchandise, according to financial documents released on Friday, the first disclosure of his assets since he returned to the White House. According to a Reuters calculation, Trump reported assets worth at least $1.6 billion. Trump disclosed a massive $57 million token sale through WLF Holdco LLC, which owns World Liberty Financial Inc., a Trump family crypto company for which Trump serves as "Chief Crypto Advocate." What they're saying:"President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations," White House press secretary Karoline Leavitt said in a statement to Reuters. "The Trump Administration is committed to transparency and accessibility for the American people." Trump's crypto-friendly second-term has raised concerns from progressive Democrats about Trump's own financial stake in crypto, which stands to benefit from pending legislation. The other side: Concerns over the Trump family's crypto ventures have stalled passage of the bipartisan GENIUS Act, the Senate's first-ever stablecoin regulation. Some Democrats raised concerns after the New York Times reported that President Trump's family members could profit from the $2 billion deal of their stablecoins that would be used for a foreign transaction involving an Abu Dhabi investment fund. Merch has also been a boon for the president. Licensing deals that Trump has with companies selling products using his name and likeness translated to millions of dollars in royalties. That includes more than $1.3 million from Lee Greenwood's "God Bless the USA" Bible. Trump, while campaigning in 2024, asked supporters to purchase the Bible – for $59.99 per copy – to "make America pray again." Trump also netted $2.5 million from Trump sneakers and fragrances, $2.8 million selling Trump watches, and more than $1 million on a "45" guitar. What we're watching: The president's phone venture, "Trump Mobile," is up next.
Economic Times
2 days ago
- Business
- Economic Times
Trump cashes in: Financial disclosures reveal millions earned from Bibles, crypto, watches, and golf clubs
Donald Trump's financial disclosures reveal a significant income stream from diverse ventures since coming back to the White House. A substantial $57 million came from a family-run cryptocurrency venture, alongside millions generated from licensing deals involving sneakers, watches, and even Bibles. Tired of too many ads? Remove Ads Crypto Cash Flow from Donald Trump's Family Venture Millions from Bibles, Sneakers, and Watches Tired of too many ads? Remove Ads Mar-a-Lago and Private Clubs Still Bring in Big Money White House Defends FAQs US president Donald Trump has quietly transformed his political position into a money-making bonanza, earning millions from his family's cryptocurrency venture, private golf clubs, and even capitalising on Bibles, watches and sneakers, reported per the over 230-page financial documents, which provide details of Trump's finances since he returned to the White House in January, one of the biggest sources of income Trump revealed was a $57 million token sale via WLF Holdco LLC, which is a Trump family crypto company actively run in part by his sons, according to filings showed the first public snapshot of some of the US president's recent earnings from deals made while the Republican campaigned for office last year, as per the report. The official documents show that many of the licensing deals Trump has with companies selling products using his name and image, like sneakers, watches, and other products, yielded millions in royalties for the US president, reported earned over $1.3 million from Lee Greenwood's 'God Bless the USA' Bible, when Trump had released a video asking supporters to purchase the Bible to 'make America pray again' during the 2024 campaign, according to the US president also earned $2.5 million from Trump sneakers and fragrances and $2.8 million selling 'Trump Watches," he even made over $1 million on a '45' guitar, denoting his place in the line of US presidents during his first term, reported disclosure also revealed that Trump's private clubs also generate huge income, which is led by his flagship property, Mar-a-Lago, which earned over $50.1 million in revenue, down from about $57 million in a previous filing last year, as per the the US president's assets are in a trust, which is managed by his children, and even the Trump Organisation had said that he would not have any involvement in the day-to-day running of the company, yet, he still owns and benefits from his massive real estate and branding empire, according to the White House press secretary Karoline Leavitt said that, 'President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations. The Trump Administration is committed to transparency and accessibility for the American people,' quoted according to financial documents, Trump is earning millions from various ventures, including cryptocurrency, merchandise, and private clubs, as per CNN colognes, watches, guitars and even Bibles. These licensing deals are generating millions in royalties.
Yahoo
3 days ago
- Business
- Yahoo
With bibles, tokens and watches, Trump made millions, new disclosures show
President Donald Trump has made millions from his family's cryptocurrency venture, private golf clubs and hawking everything from bibles to watches – as he's capitalized on his political prominence to expand his business empire, according to financial documents released Friday afternoon. One of the biggest sources of income Trump disclosed was a $57 million token sale through WLF Holdco LLC, which owns World Liberty Financial Inc. WLF is a Trump family crypto company and boasts that it is actively run in part by the president's sons. Meanwhile, Trump owns roughly between $1 million and $5 million worth of the cryptocurrency ethereum. He campaigned on being the most crypto-friendly president, advertising a more hands-off approach to regulating digital assets compared to prior administrations. Friday's filings, running more than 230 pages, mark the first disclosures of the billionaire's assets and liabilities since Trump returned to the White House in January. And they give the public the first snapshot of some of his recent earnings from deals inked while the Republican campaigned for office last year. Asked about the president's myriad business ventures, White House press secretary Karoline Leavitt said Trump has been transparent. 'President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations. The Trump Administration is committed to transparency and accessibility for the American people,' she said in a statement to CNN. Federal law does not require presidents to divest their holdings, although previous officeholders have taken steps to do so or wall them off in a blind trust. Trump's assets are in a trust managed by his children, and the Trump Organization earlier this year announced that the president would not have any involvement in the day-to-day running of the company. But he still owns and benefits from his sprawling real estate and branding empire. Friday's filings show that a variety of licensing deals the president has with companies selling products using his name, image and likeness – ranging from sneakers to watches – yielded millions in royalties for Trump. That includes the more than $1.3 million Trump made from Lee Greenwood's 'God Bless the USA' Bible. On the 2024 campaign trail, Trump released a video urging supporters to purchase the Bible to 'make America pray again.' Trump also earned $2.5 million from Trump sneakers and fragrances and $2.8 million selling 'Trump Watches.' (CNN went on a hunt for the makers of the 'Swiss-made' watches in October 2024 and ended up in a small city in Wyoming.) Additionally, Trump made more than $1 million on a '45' guitar, denoting his place in the line of US presidents during his first term. The filings also reflect the large civil judgments that still loom over the president. He reported liabilities in excess of $50 million owed both to the New York attorney general and E. Jean Carroll, a former magazine columnist who alleged Trump raped her in a New York department store in the 1990s and then defamed her when he denied her claim and suggested she made up the story to boost sales of her book. On Friday, an appeals court rejected an attempt from Trump to review a $5 million judgment against him in a case brought by Carroll. The jury in that case found that Trump sexually abused Carroll, sufficient to hold him liable for battery, but did not find that Carroll proved he raped her. Trump has denied all the claims. Trump also is separately asking the appeals court to throw out an $83 million jury verdict in a second judgment Carroll won against him. The other civil judgment of more than $50 million the president disclosed stems from the $454 million that a New York judge ordered Trump to pay last year in a civil fraud case brought by New York Attorney General Letitia James. Trump has appealed that case. Trump's private clubs also generate substantial income – led by the president's flagship property, Mar-a-Lago, which brought in a little more than $50.1 million in revenue – down from about $57 million in a previous filing last year. The filings also reveal more about the speaking fees first lady Melania Trump earned during last year's campaign. She was paid $475,000 for a speaking engagement with the Log Cabin Republicans, which represents LGBTQ conservatives, in New York in July. Her paid speeches have drawn scrutiny in the past. A previous disclosure showed Melania Trump received $237,500 for an April 2024 engagement in Palm Beach, Florida. She also made nearly $217,000 related to the sale of NFTs, non-fungible tokens. Disclosures for Vice President JD Vance also were released Friday and show that the former Ohio senator and second lady Usha Vance have millions of dollars in assets, but their wealth does not come close to Trump's. Vance received between $50,001 and $100,000 in royalties for 'Hillbilly Elegy,' his 2016 memoir that catapulted him to fame and later was adapted into a movie. Sign in to access your portfolio
Time of India
15-05-2025
- Business
- Time of India
Who owns World Liberty Financial, the company that links Pakistan with Trump family
World Liberty Financial (WLF) is a cryptocurrency and decentralized finance (DeFi) firm founded in 2024, with significant ownership and operational ties to the Trump family. The company has garnered attention for its connections to U.S. President Donald Trump and its recent partnership with Pakistan . Ownership Structure According to official information from WLF, the company is primarily owned by DT Marks DEFI LLC, an entity affiliated with Donald Trump and some of his family members. DT Marks DEFI LLC holds approximately 60% of the equity interests in WLF Holdco LLC, the holding company that fully owns World Liberty Financial, Inc. WLF Inc. is a Delaware-based corporation responsible for developing the WLF blockchain protocol and operating its governance platform. Despite the close ties through ownership, none of Donald Trump, his immediate family members, or executives associated with the Trump Organization hold direct management or operational roles at World Liberty Financial or WLF Holdco LLC, with one notable exception — Eric Trump serves as a manager on the board of WLF Holdco LLC. This limited managerial involvement highlights that day-to-day operations and strategic decisions may be carried out by professionals outside the Trump family. Crypto Tracker TOP COIN SETS Smart Contract Tracker 10.04% Buy BTC 50 :: ETH 50 8.08% Buy DeFi Tracker 6.97% Buy NFT & Metaverse Tracker 5.97% Buy Web3 Tracker 0.35% Buy TOP COINS (₹) Tether 86 ( 0.35% ) Buy BNB 55,825 ( 0.17% ) Buy Bitcoin 8,749,908 ( -0.64% ) Buy Ethereum 219,020 ( -1.62% ) Buy XRP 214 ( -2.86% ) Buy Token Holdings and Revenue Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » DT Marks DEFI LLC and certain Trump family members also hold a significant stake in the company's native digital currency, $WLFI tokens. Reports indicate that they collectively own 22.5 billion tokens. Under a service agreement, DT Marks DEFI LLC is entitled to receive a large share of proceeds from the sale of these tokens, specifically 75% after deducting certain reserves and expenses. Live Events Controversies and Foreign Investments WLF has faced scrutiny over its foreign investments and potential conflicts of interest. Chinese billionaire Justin Sun invested $30 million into WLF shortly after Trump's 2025 inauguration, and a subsequent SEC investigation into Sun was dropped. Additionally, a firm associated with the Abu Dhabi government invested $2 billion into WLF in 2025. The company's stablecoin, USD1, launched in March 2025, has been used in significant international transactions, including a $2 billion investment in the crypto exchange Binance by Abu Dhabi's MGX. This deal raised concerns among ethics experts about potential conflicts of interest. Partnership with Pakistan World Liberty Financial recently signed a landmark deal with the Pakistan Crypto Council, a government-affiliated body aiming to develop the country's digital financial infrastructure. The deal outlines cooperation on blockchain innovation, stablecoin adoption, decentralized finance integration, and regulatory sandbox development. The partnership includes advisory roles from global crypto leaders such as Changpeng Zhao (CZ), founder of Binance, indicating the ambition to position Pakistan as a significant hub in South Asia's crypto economy. This deal is seen as part of a broader effort by Pakistan to accelerate its presence in the global digital finance arena. However, it also casts a spotlight on the Trump-linked WLF, bringing scrutiny regarding geopolitical and business interests intersecting in the emerging crypto space. Also Read: Pakistan strikes deal with Trump family-backed crypto venture Ethical Concerns WLF's operations have been criticized for blurring the lines between private enterprise and government policy. The New York Times described the company's activities as "eviscerating the boundary between private enterprise and government policy in a manner without precedent in modern American history." Critics argue that WLF's foreign investments and the Trump family's involvement raise questions about potential conflicts of interest and the influence of private business on public policy. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
