President Trump reported income of more than $630 million last year, including $57 million from cryptocurrency sales and more than $8 million licensing his name for products like watches, guitars and Bibles.
According to a 234-page financial disclosure released earlier this month on June 13, the billionaire president has assets of more than $1.6 billion across his business empire that includes real estate, hotels and golf courses, plus investment accounts and newer Trump-branded ventures touted on the campaign trail.
About three quarters of the income reported is revenue from Trump hotels and golf courses, like his Mar-a-Lago Club in Florida. Then there’s millions in merchandise and retail sales, plus licensing deals, like $2.8 million for “Trump Watches,” $2.5 million for Trump Sneakers and Perfumes and more than $1.3 million from the “God Bless the USA Bible,” which features the chorus of Lee Greenwood’s eponymous song, plus the Constitution, Declaration of Independence and Pledge of Allegiance.
Prior to his time in politics, Trump’s fortune largely derived from the deals and holdings of his Trump Organization, but in recent years he has sought new forms of business, raising conflict of interest concerns and allegations from ethics watchdogs that he may be profiting from the presidency.
That’s reflected in the disclosure of more than $57 million in income from selling cryptocurrency tokens through the World Liberty Financial crypto venture founded last year – and does not account for the estimated hundreds of millions of dollars earned this year through the launch of a Trump “memecoin.”
Democrats and ethics experts have questioned the president’s involvement in crypto at a time when Congress is working on legislation to regulate the burgeoning industry. The White House has repeatedly pointed out the president’s assets are in a revocable trust and said the president follows all ethics laws.
Last month, White House Press Secretary Karoline Leavitt said it was “absurd for anyone to insinuate that this president is profiting off of the presidency.”
