How Trump Made $600 Million Last Year

From properties and crypto holdings to licensing deals and private golf clubs, Donald Trump raked in more than $600 million in income last year.

The president’s latest financial disclosure form, released last week, offered a glimpse into how Trump made money before his second presidential term began. He had $1.6 billion in assets at the end of last year, according to the 234-page disclosure form.

Trump benefited from massive ventures like his media company and scores of licensing deals that have resulted in Trump-branded Bibles, watches, perfumes, shoes, and NFTs.

New ventures continue to be announced. On Monday, the Trump family unveiled a gold-colored, Trump-branded $499 smartphone.

Here’s what we know about Trump’s business activities so far.

Trump Media

Trump’s stake in Truth Social’s parent company is worth roughly $2.1 billion, as of mid-June.

In December 2024, Trump transferred his 114,750,000 shares in the company to a revocable trust. Donald Trump Jr., the president’s eldest son, is the sole beneficiary of the trust.

Trump Media has, at times, created potential conflicts for the Trump White House. In April, the company publicly requested that the Securities and Exchange Commission investigate a hedge fund that held a $105 million short position on it. Trump Media announced a partnership in March with Crypto.com, which was under an SEC investigation at the time.

In May, Trump Media announced it intended to raise $2.5 billion to create a bitcoin reserve — marking another foray by the Trump family into crypto.

Trump crypto plays

Trump once said cryptocurrency seemed “like a scam.” Now, he’s made himself into a digital currency and owns a large stake in a crypto startup.

The president and his family own a 60% stake in World Liberty Financial. According to Trump’s disclosure, he made $57.3 million from token sales associated with the venture. Trump also holds 15.75 billion in governance tokens.

Zack Witkoff, the son of longtime Trump advisor Steve Witkoff, is a cofounder of the company. In May, Witkoff announced that MGX, a United Arab Emirates state-backed fund, would use World Liberty Financial’s stablecoin, USD1, for its $2 billion investment in Binance.

The Trump family and another business entity have made more than $350 million in trading fees for his meme coin alone, according to an estimate by Chainalysis, a blockchain data platform. The top 220 holders of Trump’s token spent an average of over $1 million to secure a seat at a private gala hosted at Trump’s DC-area golf club. According to the coin’s site, a company controlled by the president’s family and another entity control 80% of the coins.

Trump did not report any $Trump token-related income on his disclosure, likely because his meme token was not announced until January 2025. The disclosure covers the 2024 calendar year.

Trump Organization

Trump’s namesake company has announced more than half a dozen foreign projects either during or after the 2024 election. According to Bloomberg, the projects have a combined value of over $8 billion.

The projects include the first Trump Tower in Europe, part of a redevelopment of a bombed-out defense building in Belgrade, a golf club and villas in a Qatari tourist development that is promised to be larger than Disney’s Magic Kingdom, and a complex of hotels, golf courses, and luxury homes in Vietnam.

According to his disclosure report, Trump has received more than $44.8 million in various fees related to projects in the United Arab Emirates, India, Saudi Arabia, Oman, and Vietnam.

Some of the work has tested Trump’s ethics pledge not to do business with foreign governments. The Qatari project includes a partnership with a real estate investment company created by the nation’s sovereign wealth fund. Trump has previously said that he has turned day-to-day control of the Trump Organization over to Don Jr. and Eric.

Trump-branded products

Trump continues to make millions off licensing his name and likeness to a wide array of products, some of which plainly reference his current status as president.

In 2024, Trump reported that he made $7.6 million from royalty payments for Trump-branded shoes, fragrances, Bibles, and even a guitar. The “God Bless the USA Bible,” which Trump launched with singer Lee Greenwood, brought in over $1.3 million in royalties for the president, per his disclosure.

Trump also earned $2.8 million in royalties from Trump Watches, per his disclosure. The watches range in price from $499 to $100,000.

Trump’s latest book, “Save America,” which features his defiant response to an assassination attempt in Butler, Pennsylvania, brought in an additional $3 million in royalties.