Written by: Bloomberg
Translated by: AIMan@Golden Finance
On the surface, Donald Trump's personal net worth seems to have changed little since re-entering the White House: it was $6.5 billion on election day and is now $6.4 billion.
However, a deeper look at the data reveals an unprecedented and noticeable shift in how he and his family are consolidating their empire, and they are able to leverage their fame, influence, and power to profit at a faster pace.
Whether applying their brand to real estate projects or associating it with perfumes and mattresses, the Trump family has long utilized licensing agreements to make quick money, while real estate development requires years of planning and execution. But with cryptocurrency, the Trump family can accelerate the monetization of their brand.
Coupled with the Trump administration's relaxation of restrictions on overseas transactions, this is a windfall. The Bloomberg Billionaires Index shows that cryptocurrency investments have added at least $620 million to Donald Trump's wealth in just a few months. This index is the first to value the earnings the Trump family has gained from projects like World Liberty Financial and the Trump meme coin (TRUMP).
Breakdown of Trump's Wealth
Trump's wealth is increasingly tied to cryptocurrency and meme stocks.
Long-term valuation of some of Donald Trump's assets
Source: Bloomberg Billionaires Index Note: Excludes liabilities. The publicly traded assets in the latest valuation are as of the end of June.
An increasing number of virtual tokens and lesser-known companies have gained value through their association with the president and his "Make America Great Again" movement, and the money earned by these tokens and companies far exceeds the $34 million the Trump Organization made last year from real estate licensing deals.
Eric Trump, executive vice president of the Trump Organization, stated, "I am incredibly proud of our outstanding company. We have never been stronger."
While the president's assets are managed by a trust fund overseen by his son Donald Trump Jr., he personally benefits from the success of the Trump Organization, and the Bloomberg Wealth Index attributes various interests of the family to this patriarch. Many private investments involving Trump's children have not yet been included, as the details of their financial interests remain unclear, including the private club "Executive Branch" in Washington, Metaplanet, which has transformed from a Japanese hotel company into a Bitcoin hoarder, broadcasting and podcast company Salem Media Group Inc., prediction market startup Kalshi, and online pharmaceutical retailer BlinkRX.
Although Trump and his children have all ventured into the cryptocurrency space—since December, Eric and Donald Jr. have spoken at events in Abu Dhabi, Washington, Dubai, and Las Vegas, sometimes separately and sometimes together—one of the biggest drivers of his personal wealth is a project that has been brewing close to home for years.
Eric Trump (left) and Donald Trump Jr. at the Bitcoin 2025 conference. Photo: Ronda Churchill/Bloomberg
Doral Resort, $1.5 billion
In January of this year, the Trump National Doral Resort was approved to build approximately 1,500 luxury apartments on the property, a long-term goal of the Trump family that required extensive outreach to the community. According to Bloomberg's calculations, this has increased the value of the 600-acre resort in suburban Miami, which features four golf courses and a hotel with over 600 rooms, from $350 million to $1.5 billion.
Trump Media & Technology Group, $2 billion
Meanwhile, the extreme volatility of Trump Media & Technology Group Corp., the publicly traded social media company under Trump, highlights how quickly assets can lose their luster when detached from fundamentals. The parent company of Truth Social reported a net loss of $401 million last year, but in October, it added over $4 billion to Trump's wealth. Today, even as the company attempts to enter the financial and Bitcoin sectors, Trump's stake is valued at up to $2 billion.
However, the cryptocurrency project associated with Trump has provided the family with new avenues for profit.
World Liberty Financial and USD1, $460 million
The most notable is World Liberty Financial, a platform that sells its own branded tokens and issues a stablecoin called USD1—USD1 is a virtual currency designed to reflect the value of the dollar. The Trump family profits from token sales, holding a portion of the parent company's shares, and owning its World Liberty branded tokens.
As of March, World Liberty had sold tokens worth $550 million. According to Bloomberg's calculations, about $390 million of that flowed to the Trump family. The Trump family also owns 22.5 billion tokens, which, based on the trading price of the tokens in June, is valued at over $2 billion. Since these tokens are non-transferable, they are excluded from Trump's net worth calculation, although the company has recently indicated that this may change soon.
According to details on the company's website, the Trump family reduced its stake in World Liberty from 60% to 40% last month. It is unclear who the buyer is or what the Trump family gained from this divestment.
World Liberty also launched the stablecoin USD1. Abu Dhabi-based tech investment firm MGX stated it would use the token to invest $2 billion in the cryptocurrency exchange Binance, significantly boosting USD1's circulation. According to The Wall Street Journal, Binance founder Changpeng Zhao has been seeking a presidential pardon after admitting to violating U.S. anti-money laundering laws. He currently serves as an advisor to World Liberty alongside cryptocurrency industry leaders Justin Sun and Bilal Ben Saqib, chairman of the Pakistan Cryptocurrency Committee.
Donald Trump attending the Bitcoin 2024 conference in Nashville. Photo: Brett Carlsen/Bloomberg
According to Bloomberg's calculations, applying the market capitalization of stablecoin issuer Circle Internet Group Inc. to its USDC issuance to World Liberty implies a value of about $1.4 billion. Bloomberg excludes this stablecoin from Trump's net worth because its valuation is considered overly speculative given its limited application. However, its $2.2 billion issuance means that its reserves could bring in about $100 million in revenue for World Liberty this year.
Meme Coin TRUMP, $150 million
An independent token named TRUMP, featuring the president's name, was launched during the inauguration weekend. The Trump family stands to benefit when the price of the memecoin rises: Fight Fight Fight and the Trump Organization's affiliate CIC Digital hold 80% of the TRUMP supply, with some shares set to be sold over the next three years. The memecoin has no intrinsic value, and trading is based on market sentiment.
The Trump memecoin has gained popularity due to its association with the current president's family, and demand surged after a competition held in May of this year. This competition invited 220 of the largest holders to a private dinner with Trump at his golf club in Virginia, where he spoke. Justin Sun was also a guest, and he posted a selfie in a black tie on his way to the event at the Virginia Trump Golf Club. Guests enjoyed filet mignon and pan-seared halibut, while protesters outside held signs calling it a "fraud fest."
Valuing a memecoin is very difficult, often because the creators hold the vast majority of the supply, and once sold, the market collapses. Cryptocurrency risk modeling firm Gauntlet found that digital wallets associated with the creation of TRUMP hold nearly 17 million tokens.
These wallets have transferred about 17 million TRUMP tokens to cryptocurrency exchanges.
On May 22, outside the Trump National Golf Club in Sterling, Virginia, activists from the "Our Revolution" organization protested outside the Trump National Golf Club, where the dinner invited 220 of the largest TRUMP token holders. Photographer: Kevin Wolf/AP Photo
The Trump Organization holds 40% of the shares, the same percentage disclosed in its stake in World Liberty Financial. According to Bloomberg's calculations, after applying a significant liquidity discount and adding nearly $300 million in trading and sale proceeds, Trump's memecoin investment is valued at about $150 million. This does not include the 800 million TRUMP tokens worth over $7 billion that will be unlocked over the next three years starting later this month.
Although World Liberty Financial and the TRUMP token were initially two separate projects, they have conflicted at least in one aspect: Eric Trump revealed that World Liberty plans to accumulate a "large position" in TRUMP memecoins as part of the company's virtual asset reserves.
The Trump family also has an ace in the cryptocurrency field.
American Bitcoin, Not Yet Accounted
An entity spun off from a small investment bank under Trump is planning to become a publicly traded company, which would add another layer of cryptocurrency wealth to the Trump family. When it was established in February of this year, a press release stated it would focus on AI infrastructure and data centers. By March, the company had developed a new strategy, pivoting to the cryptocurrency sector and rebranding.
Bitcoin miner Hut 8 Corp. agreed to acquire a majority stake in American Bitcoin and transfer nearly all of its cryptocurrency mining equipment. Hut 8 Corp. plans to merge with Nasdaq-listed low-cost stock Gryphon Digital Mining Inc. to take the entire company public. The Trump family and its partners hold a 20% stake in American Bitcoin.
According to Bloomberg's calculations, Gryphon's stock price currently values the new company at over $3 billion. Considering that the new company's primary asset will be the Bitcoin mining equipment provided by Hut 8 (with a book value of about $120 million), this figure appears excessive by almost any traditional standard.
However, like many of the assets and businesses that constitute Trump's new wealth, fundamental value is often not the focus.
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