President Donald Trump made more than $1 billion last year from business dealings in cryptocurrency, according to his mandatory financial report for 2025, far outstripping his income from real estate and other ventures.
In a 927-page disclosure, Trump reported $635 million in royalties from a Trump meme coin that has since plunged in value, and over $500 million in income from World Liberty Financial, a cryptocurrency firm founded by his sons and the children of his special envoy, Steve Witkoff.
The earnings from his latest financial disclosure far outpace the previous one for 2024, when Trump disclosed over $600 million of income.
The White House, which has repeatedly emphasised that Trump has placed his businesses in a trust managed by his sons, again denied any conflict of interest.
White House deputy press secretary Anna Kelly said the president had proudly made the US “the crypto capital of the world.”
“Neither the President nor his family has ever engaged – or will ever engage – in conflicts of interest,” she said in a statement.
The president himself has also highlighted that he is not subject to federal conflict of interest laws.
Trump once criticised cryptocurrency, famously calling Bitcoin a “scam” in 2021 and a “disaster waiting to happen.” However, during his presidential campaign three years later, he said he wanted to make the US the “crypto capital of the planet.”
One of his first actions when he returned to the White House last year was an executive order to “support the responsible growth” of the crypto industry. Last July, he signed the GENIUS Act into law, aimed at making “America the undisputed leader in digital assets.”
Richard Painter, the former chief White House ethics lawyer under George W. Bush, told the BBC it was “extraordinary” that Trump had made $1 billion from crypto.
“Of course it’s a conflict of interest,” he said.
Will Walker-Arnott, director of private clients at Raymond James Financial Group, noted Trump’s approach is in contrast to previous presidents. “Jimmy Carter put his peanut farm into a blind trust and George W. Bush sold his interest in the Texas Rangers before becoming president, but Trump seems to be operating in a very different manner and seems to be making a lot of money through this family crypto company.”
The crypto earnings far overshadowed income from Trump’s real estate business, which first catapulted him to fame. He earned around $77 million from his Mar-a-Lago club and $122 million from his golf club in Doral, Florida.
He also earned millions from Trump-branded Bibles, trainers, watches, fragrances, and guitars. First Lady Melania Trump reported $10.7 million from a documentary about her and $6 million from the sale of NFTs.
Trump also listed some $86.5 million of income in settlements from various legal actions, including against ABC, CBS, Meta, YouTube, and X. The White House has said most of that money went towards Trump’s future presidential library.
According to a list of the world’s richest people compiled by Forbes magazine, Trump has an estimated fortune of $6 billion, up from $2.3 billion in 2024. Bloomberg’s Billionaire’s Index puts the president’s net worth at $7.6 billion.
At more than 900 pages, Trump’s annual filing dwarfs those of his predecessors. Joe Biden’s financial report for his last full year in office was 11 pages long.
