Latest news with #Barron
Hindustan Times
10 hours ago
- Business
- Hindustan Times
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.
Mint
20 hours ago
- Business
- Mint
Trump has a big, beautiful reason to push for lower rates
The Federal Reserve held its policy interest rate steady this past week and maintained its median projection of two quarter-point rate cuts by year end, exactly as expected. And nearly as predictably, President Donald Trump renewed his tirade against Fed Chair Jerome Powell for not slashing rates, adding increasingly personal insults and calling him 'stupid" and 'truly one of the dumbest, and most destructive, people in Government." Such taunts have brought past rivals to heel (such as 'Little Marco" Rubio, now serving as Secretary of State), but the tactic is unlikely to work with the Fed. While nearly every president has preferred lower interest rates to bolster the economy on their watch, Trump's motivation in pushing for lower interest rates relates to his administration's top domestic policy priorities on taxes and spending. With the so-called One Big Beautiful Bill passed by the House of Representatives estimated to boost the nation's debt by an additional $3 trillion, the most intractable part of the budget is the interest expense on that burgeoning debt. In a post on Truth Social Thursday, Trump asserted that rates 'should be 2.5 points lower, and save $BILLIONS on all of Biden's Short Term Debt." The previous administration under former Treasury Secretary Janet Yellen tilted borrowing to Treasury bills after the bond market sent the benchmark 10-year yield to close to 5% in October 2023, creating worries about absorbing the supply of intermediate- and long-term debt. This was criticized by, among others, the current Treasury secretary, Scott Bessent. The chart here shows the sharp ascent in the federal government's interest tab. That rise is the result of the surge in the total debt, which passed $37 trillion this past week, and the increase in short-term interest rates, from near zero percent at the beginning of the decade. The average cost of the Treasury's overall debt has more than doubled from the low of early 2022, to 3.35% at the end of March. Drawing on his years of experience as a heavily leveraged real estate operator, Trump said on Wednesday that he would 'go very 'til this guy gets out, get the rates way down, and then go long-term." That presumably would be when Powell's term as Fed Chair ends next May, at which point Trump could install his own choice to lead the central bank. (The White House and the Treasury didn't respond to Barron's queries about coming changes in government borrowing plans. Treasury Deputy Secretary Michael Faulkender told Barron's colleague Matt Peterson on Friday that the department will continue to work with the Treasury Borrowing Advisory Committee to set the best mix of maturities without specifying any changes.) Even if the Fed under Trump's next pick were to sharply lower its short-term rate target, there is no certainty that intermediate- and long-term Treasury yields would follow. Indeed, after the Fed cut its federal-funds target a full percentage point last year, to the current range of 4.25% to 4.5%, the benchmark 10-year yield rose more than a full point. The president's focus on interest rates and their role in the massive federal budget deficit has been a topic here for months. Just after November's presidential election, this column foresaw that the president-elect would lean on the Fed to curb Uncle Sam's mounting interest expense and the rising tide of red ink. Trump's badgering is having no discernible effect so far, however. The new Summary of Economic Projections from the Federal Open Market Committee, released this past Wednesday, showed no change in the median expectation of a total of two quarter-point fed-funds rate cuts by the end of 2025. But the so-called dot plot of guesses showed that seven Fed officials were anticipating no change, with eight looking for two cuts. In the previous SEP released in March, there was a tighter consensus around two cuts by year end. Other presidents have been notably more successful in getting the Fed on board with them. When Bill Clinton took office in 1993, he acceded to the advice of then-Fed Chair Alan Greenspan to curb the budget deficit, which Greenspan suggested would lower long-term interest rates. Clinton privately railed that his policies were subject to the whims of a bunch of 'f—ing bond traders," according to Sebastian Mallaby's biography of Greenspan, The Man Who Knew. Still, Clinton went along, supporting the Fed's independence along with a strong dollar, and left office with a budget surplus after the dot-com boom. One prominent Fed governor, Christopher Waller, said on Friday that a rate cut could be on the table as early as the July 29-30 Federal Open Market Committee meeting. In a CNBC interview, Waller noted that recent inflation readings have been well contained while the Trump tariffs may be a one-time price boost, rather than indicative of sustained inflation, and that the labor market may be vulnerable to slowing. Waller, formerly the research director at the St. Louis Fed, was nominated by Trump to the Fed in 2020, and has been mentioned as a possible successor to Powell. The Fed's semiannual report to Congress, released on Friday, said that the job market was in 'solid shape," with labor supply constrained by slower immigration and lower labor-force participation, points emphasized by Powell in his post-FOMC press conference. He will be grilled by the House Financial Services Committee on this and other topics on Tuesday, followed by testimony before the Senate Banking Committee the next day. Congressional inquisitors surely will want to know about how the Fed will deal with White House pressures on monetary policy. Write to Randall W. Forsyth
Time of India
2 days ago
- Business
- Time of India
Barron Trump becomes a crypto millionaire? Bombshell report claims he raked in around $40 million
Barron Trump, the youngest son of Donald Trump and Melania, was all in on cryptocurrency before his father knew hardly anything about it. The 19-year-old college freshman may have raked in millions of dollars from the sale of crypto tokens linked to the family's lucrative venture into digital tokens, according to multiple reports. In the nine months since, President Trump has made an estimated billion dollars or so on crypto—and his youngest son has done quite well, too. In fact, it's possible that Barron Trump has earned nearly $40 million, leaving him with an estimated $25 million fortune after accounting for taxes, reports Forbes. ALSO READ: Amazon's one-month deadline to US employees amid mass layoff fear: Resign in 60 days or... by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo Did Barron made millions from Trump's crypto firm? The 19-year-old New York University student stood to earn a hefty $40 million — roughly $25 million after taxes — from the sale of digital assets by World Liberty Financial , the Trump family venture launched nine months ago, reportedly at Barron's urging after he convinced his father of cryptocurrency's potential, as per reports. 'Barron knows so much about this,' Trump said during an interview in September after the launch. '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?'' Live Events World Liberty has proven to be a financial windfall for the family. In March, the company revealed it had generated $550 million in token sales. An Office of Government Ethics filing released by President Trump last week declared he had made $57 million from token sales. ALSO READ: Amazon, Microsoft, Meta, Intel and more: List of top US tech giants that have announced mass layoffs in 2025 The report also stated that the real estate magnate owns a 75% stake in his parent company, DT Marks Defi LLC, while the remaining 25% is held by unidentified 'third parties.' Barron Trump is named as a 'co-founder' of World Liberty Financial, along with his father and the president's two eldest sons, Eric Trump and Donald Trump Jr. Although Forbes did not provide concrete evidence to support its claim about Barron Trump's significant digital earnings, it speculated that he holds a 7.5% stake in the Delaware-based umbrella company. Forbes noted that this would be consistent with Barron's reported ownership in the Trump Organization 's Washington, D.C., hotel, where he is also believed to have a 7.5% share. However, Barron's name does not appear in the company's sole SEC filing dated October 30 of last year. ALSO READ: 16 billion passwords leaked in largest data breach ever: Check tips to protect your Facebook, Instagram accounts Also identified as business partners in the venture are Middle East envoy Steve Witkoff and his son, Zachary. An analysis by Bloomberg, the financial news outlet, estimates the president's net worth has doubled since the start of his 2024 campaign, standing at just over $5.4 billion Barron has already made a striking debut in the family business. Born during the rise of his father's political career, Barron was just a child when 'The Donald' descended the golden escalator of Trump Tower in 2016 to announce his presidential run.
Mint
2 days ago
- Business
- Mint
Did Barron Trump earn $40 million from his dad's crypto venture? Report says 'much more'
During an interview in September, when the Trump family launched World Liberty Financial, a crypto venture, he had said his son Barron Trump was all in on cryptocurrency prior to him even knowing about it. Barron may have earned close to $40 million, resulting in an estimated net worth of $25 million after taxes and more than what his older siblings had accumulated at a similar age, according to Forbes. 'Barron knows so much about this. 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?" Trump had stated. Donald Trump has reportedly made around a billion dollars from cryptocurrency, and his youngest son has also seen considerable success in the space over the past nine months. Estimates suggest Barron may have earned close to $40 million, leaving him with a net fortune of about $25 million after taxes. While Trump's older children once held modest stakes in his Las Vegas tower and Washington, DC hotel, those ventures didn't generate nearly as much wealth as the crypto boom, which appears to have ushered Barron into the Trump family business. World Liberty Financial's 'gold paper', a Trumpified white paper, named Barron Trump as a 'Web3 ambassador", a title he shares with his brothers, Don Jr. and Eric Trump. All three are also mentioned as cofounders on the company's website, alongside four others. For months, however, the extent of the Trump heirs' ownership in the venture remained unclear. That changed on Friday, when their father, referred to as the 'chief crypto advocate' in the gold paper and cofounder emeritus on the site, filed a financial disclosure report. The document revealed that Donald Trump holds a 52.5% personal stake in the company, while unnamed family members collectively own another 22.5%. The document doesn't specify how that family stake is divided, but if Don Jr., Eric, and Barron split it evenly, each would control 7.5%, coincidentally, the same share each of Trump's three eldest children once held in his Washington, DC hotel. World Liberty Financial has generated significant revenue, selling at least $550 million in tokens, after the initial $30 million, the proceeds reportedly went to the owners. Based on that, Barron and his brothers may have earned around $39 million each before taxes. However, the Trump family appears to have sold part of their stake around January 2025, after the latest financial disclosure's cutoff, Forbes reported. The timing and value of that sale could affect how much each heir ultimately received. Neither World Liberty Financial nor the Trump Organisation responded to requests for comment. The report added regardless of Barron's exact earnings, it's clear that by age 19, he has joined the ranks of presidential relatives who have leveraged their political connections for financial gain. He was just nine years old when his father famously descended the golden escalator in Trump Tower to launch his presidential campaign. Donald Trump won the presidency 17 months later and moved into the White House in January 2017, with Barron and Melania joining him that summer.
Mercury
2 days ago
- Business
- Mercury
Barron Trump may have made millions from family's lucrative crypto firm: report
Don't miss out on the headlines from World. Followed categories will be added to My News. Barron Trump, the youngest son of the 47th President, may have raked in millions of dollars from the sale of crypto tokens linked to the family's lucrative venture into digital tokens, according to a report. The 19-year-old New York University student could have picked up a cool $40 million (AU$61 million) — $25 million (AU$38 million) after taxes — from the sale of digital assets by World Liberty Financial, the Trump family firm launched nine months ago after Barron persuaded his dad about the benefits of crypto, Forbes reported. 'Barron knows so much about this,' commander-in-chief said during an interview in September after the launch. '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?'' Barron Trump may have raked in millions. Picture: ANGELA WEISS / AFP. World Liberty has been a financial bonanza for the family. In March, World Liberty announced that it had sold $550 million (AU$850 million) worth of tokens. An Office of Government Ethics filing released by President Trump last week declared he had made $57 million (AU$88 million) from token sales. It also said that the real estate mogul held a 75 per cent stake in his umbrella company, DT Marks Defi LLC, with unnamed 'third parties' holding the other 25 per cent. Barron Trump is listed as a 'co-founder' of World Liberty Financial alongside the president, as well as Eric and Donald Trump Jr, the president's two eldest sons. Forbes, which provided no direct evidence for its claims of Barron Trump's massive digital windfall, suggested that he owned a 7.5 per cent stake in the Delaware-based umbrella firm. The stake would mirror what the NYU freshman holds in the Trump Organization's Washington, DC hotel, Forbes said. The 19-year-old New York University student could have picked up a cool US$40 million. Picture: Jim WATSON / AFP. Barron Trump's name does not appear in the company's solitary SEC filing from October 30 last year. Also listed as business partners in the venture are Middle East envoy Steve Witkoff and his son, Zachary. An analysis by Bloomberg, the financial news outlet, estimates the president's net worth has doubled since the start of his 2024 campaign, standing at just over US$5.4 billion This article originally appeared on the New York Post and has been republished with permission Originally published as Barron Trump may have made millions from family's lucrative crypto firm: report
