Financial disclosures for 2024 filed by the president on Friday show that digital coins had already become one of his family’s most successful ventures.
Donald J. Trump got a small taste last year of life as a cryptocurrency mogul.
His stake in World Liberty Financial, the cryptocurrency firm that he unveiled during the presidential campaign, earned about $57 million, making it one of the Trump family’s most lucrative investments in 2024. And a licensing deal involving a related industry, NFT collectibles, produced another $1.2 million.
Mr. Trump’s wife, Melania, contributed to the family income, receiving $217,000 in licensing fees related to a digital token.
The results, detailed in Mr. Trump’s mandatory financial disclosure report for 2024 and released on Friday, previewed the crypto riches he is now poised to reap as president.
Since Mr. Trump took office a second time this year, his crypto fortunes have skyrocketed through a series of business ventures that pose unprecedented conflicts of interest. Not only is Mr. Trump a major operator in the crypto industry, he is also its top policymaker — and a symbol of its rising stature in Washington.
Even as the president seeks to deregulate and promote the industry, Mr. Trump’s personal net worth has soared through crypto.
Though the information in the financial disclosure ends as of Dec. 31, 2024, World Liberty announced this year that it had sold more than a half-billion dollars’ worth of its coin, a significant portion of which the Trump family was entitled to. Separately, Mr. Trump developed a personal cryptocurrency known as $TRUMP, a memecoin launched days before his inauguration, that on paper could be worth billions of dollars.
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Source: Elections - nytimes.com
