Donald Trump has earned more than $1bn from his cryptocurrency businesses since returning to the White House, according to a 927-page financial disclosure report released by the US Office of Government Ethics. The document, which covers his 2025 income, shows that the president’s total revenue exceeded $2.2bn last year, with crypto ventures accounting for the single largest share – surpassing property, legal settlements and merchandise sales combined.
The disclosure, required under a 1978 law that mandates the president and vice-president declare their income and assets, reveals a dramatic shift in the sources of Trump’s wealth since he took office. Where once his fortune was anchored in real estate and golf courses, digital assets now dominate.
Inside Trump’s crypto empire
The president’s crypto earnings came primarily from three ventures. World Liberty Financial (WLF), a platform co-founded by Trump’s sons and the sons of envoy Steve Witkoff, generated more than $500m from sales of crypto “governance tokens” and WLFI tokens. An additional $260m to $250m came from the sale of interests in the WLF business itself. In April 2025, WLF also launched a US dollar-pegged stablecoin called USD1.
A separate entity, CIC Digital LLC, brought in more than $600m from sales of souvenir “meme” coins stamped with Trump’s face, which launched days before his inauguration in January 2025. Royalties from a licensing agreement with Celebration Coins were the primary source of that revenue. The coins initially spiked to over $74 before crashing to $1.68.
Trump also made over $196m from an equity sale of Stablecoin Holdco, the company behind the USD1 stablecoin. His investment accounts, meanwhile, disclosed cryptocurrency-related holdings worth more than $1bn, including over $100m in bitcoin (BTC) and ethereum (ETH).
The rise of these ventures has been fuelled by billionaire investors and by Trump’s own move to roll back federal oversight of the industry. At the start of last year he announced he wanted the US to be “the crypto capital of the world”, and his administration has pursued that aim through executive actions, the appointment of crypto-friendly regulators and the easing of enforcement by the Department of Justice and the Securities and Exchange Commission. In March 2025, Trump established a Strategic Bitcoin Reserve and a US Digital Asset Stockpile. In July 2025, he signed the GENIUS Act into law, creating a regulatory framework for USD-backed stablecoins.
Despite the president’s personal gains, the value of many of his crypto offerings has plunged. WLF tokens have fallen by 80% since trading began in September 2025. The souvenir meme coins are now worth a fraction of their launch price. Gavin Newsom, the Democratic governor of California who is expected to run for president in 2028, wrote on X: “He got richer. His crypto supporters got rug-pulled.”
Other income streams: property, settlements and Bibles
Beyond crypto, Trump’s traditional property portfolio generated more than $620m in income. That included a flurry of new hotel, resort and condo deals overseas, many in countries that were simultaneously negotiating with Washington over tariffs, military aid and other matters. A property in the United Arab Emirates took in $10.4m; one in Saudi Arabia being built by a developer close to the ruling family paid Trump’s company $9m; and developments in Bucharest, Romania, and Qatar each sent him $5m. Licensing fees from foreign projects totalled over $58m, including $11.7m from Dubai, $10m from Abu Dhabi, $9.2m from Saudi Arabia, $5.25m from Doha, $5m from Bucharest and $5m from Vietnam. Over $10m in fees came from projects in India, among them $3.6m from Gurgaon.
Trump also received more than $86m from five separate legal settlements with media and social media companies – ABC, CBS, YouTube, Meta and X.
In another unprecedented move for a sitting president, he made millions from selling Trump-branded merchandise. Sales of Trump-branded watches alone earned him $4.7m. He also earned $300,000 in royalties from endorsing “The Greenwood Bible”, officially titled “God Bless the USA Bible”, with licensing fees from its sales exceeding $1.3m. Thousands of those Bibles, which retail for up to $99, were printed in China at a production cost of about $3 per copy. Additional income came from sneakers, perfumes and books.
Conflict of interest concerns
The sheer scale of Trump’s personal earnings from crypto while in office has triggered alarm over potential conflicts of interest. The White House has previously responded by saying his business interests are managed by his sons. However, his assets are held in a revocable trust overseen by his son Donald Trump Jr, meaning the president retains the authority to amend or revoke it at any time.
Anna Kelly, a White House spokesperson, said: “Neither the president nor his family has ever engaged – or will ever engage – in conflicts of interest. President Trump proudly made the United States the crypto capital of the world through executive actions, supporting legislation like the Genius Act and other commonsense policies to drive innovation and economic opportunity for all Americans.” Kelly added: “All actions by President Trump and his administration are taken in the best interest of the American people, and any so-called reporters pushing otherwise are recycling the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade.”
Don Fox, former acting head of the federal ethics office, noted that presidents and vice-presidents are exempted from certain ethics laws that prohibit conflicts of interest for other federal employees. He said Trump “makes the case better than anyone that it’s time for additional ethics reforms”, adding: “Every president in the post-Watergate era has managed his finances as though he were subject to conflicts of interest. With Trump, those norms are just totally out the window.”
The disclosure also details other notable financial moves. Trump made significant investments in Apple, Microsoft and Nvidia, often coinciding with policy developments, and bought Amazon shares. He reported receiving more than $370,000 in gifts, including items related to sporting events. Melania Trump’s income – $10m from an Amazon documentary and over $500,000 from her book – was also listed.
Forbes estimated Trump’s net worth at $6bn in 2026, up from $2.3bn in 2024. Another estimate placed his fortune at $6.5bn, while a separate source put it at $7.6bn.
