Trump’s financial disclosures reveal windfall for the president
by Jeff Mordock · The Washington TimesPresident Trump’s new financial disclosures reported more than $1 billion in cryptocurrency income and hundreds of millions of dollars from other investments, suggesting his personal wealth has increased dramatically since he returned to the White House.
He earned more than $1 billion in cryptocurrency income, $80 million from legal settlements and tens of millions of dollars in foreign investment income in 2025, according to the 927-page document submitted to the U.S. Office of Government Ethics.
The disclosure form lists earnings, not profits, so it is difficult to know how much the president has personally profited from the investments.
Asked about the windfall, Mr. Trump told reporters Wednesday that he was not profiting from being president.
“I’m profiting because the stock market is going up. Everybody is profiting,” he said. “Thank you, President Trump.”
Still, Mr. Trump’s massive cryptocurrency profits coincide with his policies that have boosted the industry, including the reversal of President Biden’s regulatory crackdown on digital asset firms.
Mr. Trump earned more than $635 million from a licensing agreement for his $TRUMP meme coin, which launched three days before he took office.
Beyond the meme coin licensing, Mr. Trump yielded an additional $236 million from selling WLFI tokens through World Liberty Financial. The cryptocurrency company was founded in 2024 by Mr. Trump, Steve Witkoff (now a White House special envoy), and their sons.
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He sold equity valued at more than $65 million associated with World Liberty Financial and reported more than $290 million in income from cryptocurrency wallets linked to World Liberty.
Mr. Trump reported $205 million in proceeds from stablecoin investments, including sales of holdings in a company dubbed Stablecoin Holdco, which is associated with World Liberty Financial.
In 2021, Mr. Trump dismissed cryptocurrency as “a scam,” but since returning to the White House, he has become deeply financially entangled in the industry, with companies that were small startups when he took office now making up the bulk of his vast investment portfolio.
All told, the cryptocurrency income pushed the president’s total cryptocurrency holdings to $1.4 billion.
Mr. Trump said he keeps his investments at arm’s length.
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“I don’t get involved,” he said. “We have funds that run my money. I made a lot of money before I became president, and they invest my money, and I don’t talk to them.”
He referred to his investments as “closed accounts.”
“You put in your money, and that’s it. I don’t talk to them. They are big institutions, and they run it,” he said, adding that he purposely never speaks to the people who invest his money.
Richard Painter, who served as the chief ethics attorney for President George W. Bush, said it is a problem that Mr. Trump is profiting from cryptocurrency while overseeing the government agencies that regulate the industry.
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“This is the first president that we’ve seen with substantial conflict of interest with his official duties since the Civil War,” he said, referring to the pre-Civil War period, when several presidents were slave owners while deciding U.S. slavery policy.
The problem, as Mr. Painter sees it, is a loophole in federal law that exempts the president, vice president and members of Congress from the primary conflict-of-interest statutes designed to let commanders in chief govern without fear of criminal prosecution for their personal investments.
He said Capitol Hill has no appetite to close the loophole because lawmakers are profiting from their investments.
Mr. Painter dismissed Mr. Trump’s claim that he is unaware of how his money is invested because he does not talk to the people who handle his finances.
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“He knows what he’s got. It’s right there on his financial disclosure form, signed by him,” he said.
The White House disputed the characterization of a conflict of interest.
“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,” White House spokeswoman Anna Kelly said in a statement.
“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,” she added.
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At 927 pages, Mr. Trump’s financial disclosures, which were made public late Tuesday and cover the first year of his second term, are believed to be the longest ever filed by an American president. By comparison, President Obama’s financial disclosure form was eight pages, and Mr. Biden’s was 11 pages.
Vice President J.D. Vance’s form for last year was 17 pages.
Unlike past presidents, Mr. Trump did not divest his assets or place them in a blind trust before taking office. The Trump Organization has said the assets are managed by third-party financial institutions, with trades executed through automated technology.
Forbes estimates Mr. Trump’s net worth at about $6 billion, suggesting a $2.3 billion increase since entering the White House. Bloomberg estimates Mr. Trump’s worth at about $7 billion.
The financial disclosure forms also detail tens of millions of dollars in overseas revenue from licensing fees from hotels and golf courses, including $5.25 million from a forthcoming golf club in Doha, Qatar, and $5 million from a Bucharest Trump Tower project in Romania announced in July 2025.
Mr. Trump reported about $13 million in licensing and management fees from an 80-story building that the Trump Organization is constructing in Dubai.
Other foreign revenue included $8.5 million in licensing fee income from four projects announced in India and $5 million from a resort in Vietnam that was approved for construction last year.
Mr. Trump earned $10 million from an Abu Dhabi licensing deal and $9.2 million from a Saudi Arabia deal. He has luxury property projects under construction in both places.
The foreign investments were particularly troubling to Mr. Trump’s critics because many of those countries were negotiating with the U.S. over tariffs and military aid while the president’s family was conducting business deals.
Stateside, Mr. Trump earned $77.5 million from his Mar-a-Lago club; $37.6 million from his golf club in Bedminster, New Jersey; $38.5 million from his hotel in Chicago; $31.6 million from his golf course in Jupiter, Florida; $25 million from his golf course outside Washington; and $25 million from his hotel and condo skyscraper in Las Vegas.
Legal settlements against media outlets that Mr. Trump had accused of bias were also a major source of income for the president. He reported $22 million from Alphabet, the parent company of Google and YouTube, $24.5 million from Meta, $16 million from CBS, $16 million from ABC and $8 million from X.
Mr. Trump said he donated the settlement funds, except for the X settlement, to his presidential library or the Trust for the National Mall.
First lady Melania Trump earned more than $10 million last year from licensing her image to the producers of her documentary “Melania,” according to the disclosures.
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Jeff Mordock
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