From crypto to Bibles and real estate

At the current trading price of about $US8.67, as of noon July 1, those holdings amount to about $US6.9 billion. But this value is not liquid: the coins owned by Trump cannot be traded, and any large sale would cause the price to crater. It is also unclear how much belongs to Trump versus his partners.

Along with the value of the $TRUMP coins that the president holds, he benefits from transaction fees every time the meme coin is traded. To date, these fees have totalled at least $US320 million, which the Trump family shares with its business partners, said Chainalysis, a crypto analytics firm.

World Liberty Financial
The president’s headfirst dive into the crypto industry has been highly lucrative – and not just because of his meme coin. The crypto firm that he helped start during last year’s presidential campaign, World Liberty Financial, has also generated a significant sum from the sale of its own digital tokens, known as WLFI.

A business owned by the Trump family is entitled to 75 per cent of the revenue from token sales, after a $US30 million threshold is reached and expenses are deducted. World Liberty said in March that it had sold $US550 million in tokens, and then reported subsequent sales of $US25 million and $US100 million. The sales probably netted more – possibly much more – than $US300 million for the Trump family, though the president’s precise earnings will not be known until he files his next annual financial report.

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Trump also controls his own stash of more than 15 billion World Liberty tokens, his most recent disclosure shows. The tokens are not tradable, making it difficult to estimate their value. For now, owning them simply allows holders to vote on some of World Liberty Financial’s business decisions.

But data collected by crypto forensics firm Nansen shows some of the tokens were originally sold at US1.5¢ apiece – consistent with pricing information that World Liberty circulated to investors last year.

That would put the value of Trump’s holdings at about $US236 million.

It’s possible that World Liberty will eventually allow the tokens to be traded, which could cause their value to skyrocket. The company has said it is working on making the tokens “transferable”, though it’s not clear exactly what that means. At a crypto conference in New York on June 25, one of World Liberty’s founders, Zak Folkman, hinted that an announcement could come in the next couple of weeks.

“Everybody is going to be very, very happy,” he said.

Stocks, bonds and cash

Trump Media & Technology Group

The second-largest source of Trump’s net worth, after the meme coin, is his stake in the publicly traded corporation that runs his social media venture, Truth Social. The president owns 115 million shares in the company, Trump Media & Technology Group, making his stake worth about $US2 billion based on the current price of the stock.

But unless he sells the shares, this aspect of his net worth is theoretical, existing only on paper. And the value of Trump Media shares has fallen precipitously since his inauguration. At its peak, Trump’s stake in the company was worth about $US6 billion.

Other investments
The president also has an expansive financial investment portfolio that was worth at least $US236 million, according to his most recent financial disclosure, which covers 2024. The exact size of his portfolio is unknown because his financial disclosure reports these assets in wide ranges.

One entry in the disclosure indicated Trump held more than $US50 million in a money market fund with no top value provided, making it impossible to determine the true maximum total of his holdings.

The New York Times previously analysed the financial disclosure he filed last year to determine the breakdown of his holdings in bonds, cash and stocks.

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If Trump held the low end of the range for each asset listed, bonds would have accounted for about 60 per cent of Trump’s portfolio; cash and similar investments for about 30 per cent; and stocks for less than 10 per cent. Municipal bonds represented nearly 80 per cent of Trump’s bond holdings, according to the minimum values reported.

At minimum, Trump’s investment portfolio of stocks, bonds and cash produced $US13 million in dividends and interest last year.

Real estate and other business holdings

Before Trump was a crypto mogul, he drew much of his net worth from the value of his real estate – hotels, residential properties, golf clubs and commercial office towers. This business has ebbed and flowed over the years, though it remains important for Trump.

It is difficult to determine the exact value of his real estate; he offers only estimates in his financial disclosures. For example, he valued 19 real estate assets at more than $US50 million each in his latest disclosure, with no reported maximum. All told, he valued his properties and other business holdings at a minimum of $US1.3 billion, excluding Trump Media and World Liberty.

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The New York attorney-general accused Trump of inflating his real estate values to secure favourable loans from banks, prompting a months-long civil trial that resulted in a nearly $US500 million judgment against him.

These properties also generate revenue, though he does not reveal his expenses or investments in the properties, so profit or loss cannot be determined. In 2024, the top two revenue generators were in Florida: the Trump National Doral golf club near Miami ($US110 million) and his Mar-a-Lago private club and estate ($US50 million).

Royalties

Gold watches. An electric guitar. A coffee-table book. Sneakers and a Bible.

Trump has put his name on a wide variety of consumer products — and these deals generate a steady flow of royalty payments for him. In 2024, he received more than $US11 million in such payments, according to his financial disclosure.

Debts

Real estate
Like almost any real estate investor, Trump has sizable loans on some of his properties. His company said it recently paid off a $US160 million loan on its 40 Wall Street office building in New York, though he still owed more than $US100 million on other properties, according to his latest disclosure.

Lawsuit judgments
The president’s biggest debt stems from his recent legal troubles: the nearly $US500 million judgment from the New York attorney-general’s office and two lawsuits brought by writer E. Jean Carroll. In one of those two cases, a Manhattan jury ordered Trump to pay Carroll $US83.3 million for defaming her after she accused him of sexual assault.

A separate jury had earlier awarded Carroll $US5 million after finding that Trump had sexually abused her in a Bergdorf Goodman dressing room in the mid-1990s and had defamed her in a Truth Social post.

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After these courtroom losses, Trump had to secure hundreds of millions of dollars in so-called appellate bonds, which spare him from paying the judgments while he appeals them. But to do so, he had to pledge a significant amount of his assets to the companies providing the bonds. And if he ultimately loses the appeals, Trump will owe the full amount of the judgments, plus significant interest.

This article originally appeared in The New York Times.

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