The cumulative earnings of $3.4 billion have set a new record for power monetization in American political history.
Written by: David D. Kirkpatrick, The New Yorker
Translated by: Luffy, Foresight News
In January 2017, incoming President Donald Trump first publicly faced questions about conflicts of interest between his business empire and public office during a press conference. His company, the "Trump Organization," profited from luxury apartments, hotel leases, development projects, and club memberships worldwide, and he collaborated with various businesses to earn licensing fees by putting his name on various products. Could people believe he would prioritize public interests over personal interests? How would he assure Americans that funds flowing into his enterprises would not become disguised bribes?
[The rest of the translation continues in the same professional and accurate manner, maintaining the original text's tone and meaning while translating it into English.]Authorization and Management Agreement in Saudi Arabia and the Gulf Region
The Trump Group's transactions in the Gulf region can be considered a typical "presidential identity premium". In November 2022, after becoming the Republican presidential candidate, Trump reached an agreement with the Saudi real estate company Dar Al Arqala to manage hotels and golf courses in Muscat, Oman, and share profits from villa sales, signing a rare 30-year contract. After re-election, Donald Jr. and Eric signed project agreements with the company in Riyadh, Jeddah, Dubai, and Doha.
Based on the revenue model of Dubai Golf Course (annual profit exceeding $1 million), the estimated management income, licensing fees, and hotel management fees in the Gulf region total at least $105.8 million, with a cumulative total of $678.5 million.
Cumulative Total: $572.7 million + $105.8 million = $678.5 million
Private Jet and Media Settlement
In May 2025, Trump brought back a Royal Boeing 747-8 aircraft "gifted" by the Qatari Emir from the Persian Gulf visit, stating he would transfer it to the Air Force management until handing it over to his presidential library foundation. The aircraft is priced at $367 million, with a second-hand market value of about $150 million. Although upgrading security might cost over $1 billion and may not be completed during his term, it is still viewed as a "personal favor".
Additionally, during his term, Trump reached settlements with media companies through litigation: ABC News paid $15 million, Meta paid $22 million, X paid about $10 million, CBS News paid $16 million, with all funds going to his presidential library foundation. Melania also received $40 million in documentary rights fees from Amazon, personally earning about $28 million. The total is $91 million.
Cumulative Total: $678.5 million + $150 million + $91 million = $919.5 million
Social Media
In October 2021, Trump announced the launch of the social media platform Truth Social, attempting to rebuild his influence after restrictions on mainstream social platforms. To quickly advance the platform's listing, he merged with Digital World Acquisition Corp through a SPAC method, establishing Trump Media & Technology Group, obtaining about 60% of shares and becoming the largest shareholder.
Despite the platform's limited user base (daily active users around 400,000) and continuous losses (over $400 million last year), its stock price was hyped by retail investors due to the "Trump association", becoming a typical "meme stock" with a market value once reaching $6 billion. Trump Media's stock price fluctuates with small investors' sentiment towards Trump, unrelated to any potential value. If Trump attempts to cash out, it would undoubtedly trigger panic selling, lowering the stock price before he can run away. Forensic accountant Bruce Dubinsky, referencing valuation standards of similar social media companies and its revenue scale (about $1 million per quarter), estimates the value of Trump's shares at around $25 million.
Notably, Trump uses his presidential identity to drive traffic to the platform, releasing major statements only on Truth Social and even using it as a policy announcement channel, forming a closed loop of "public office driving private domain". Despite unclear profitability prospects, this "power endorsement + capital speculation" model still brings quantifiable book gains to Trump.
Cumulative Total: $919.5 million + $25 million = $944.5 million
1789 Capital and "Executive Branch" Club
Donald Jr. and his friend Omeed Malik (Trump donor, Mar-a-Lago member) co-founded the "Executive Branch" club, with an initial membership cap of 200 people. According to insiders, 20 "founding members" paid $500,000, with other members paying nearly $100,000, totaling $28 million in revenue. Although the club is seen as a "social face project", after deducting decoration costs of $1,000 per square foot, $19 million remains. Calculating that Donald Jr. receives at least one-fifth of the profits, he earned over $3.8 million before opening. Additionally, Donald Jr. is a partner in Malik's 1789 Capital, which raised $1 billion to invest in high-tech and defense sectors, also seeking funds in the Persian Gulf. According to industry standards, partners can earn at least $200 million over a 10-year cycle. As the third-ranking partner, Donald Jr. is expected to receive 10%, approximately $20 million (present value $16 million), plus a $200,000 annual salary (present value $1.6 million). The total earnings are $19.6 million.
Cumulative Total: $944.5 million + $19.6 million = $964.1 million
NFT Sales
The Trump family's cryptocurrency layout began with Non-Fungible Tokens. In 2022, Trump launched NFTs designed with his own image, including "superhero" and "motorcycle rider" styles, selling at $99 per unit on Truth Social. Financial disclosures show he earned $13.18 million from NFT licensing fees, with Melania also earning $1.22 million from personal NFTs, totaling $14.4 million. These NFTs are essentially ownership certificates of digital images, leveraging Trump's presidential identity premium. Buyers are mostly his supporters, with transactions almost costless and profits near 100%. Cryptocurrency skeptic Molly White commented: "Trump's NFTs directly monetize his personal image, consistent with his business empire logic, selling names rather than physical goods."
Cumulative Total: $964.1 million + $14.4 million = $978.5 million
Crypto Projects and Stablecoins
Donald Jr. and Eric launched the crypto project World Liberty Financial in September 2024, focusing on "decentralized finance", claiming to be the "only crypto company inspired by Trump", with a website centered on a photo of Trump making a fist, calling him the "chief cryptocurrency advocate". The company raises funds by selling tokens, with Trump family-controlled shell companies receiving 75% of income, initially holding 60% shares, later reduced to 40%. Chinese crypto tycoon Justin Sun purchased $75 million in tokens and became an advisor, helping raise $550 million, with the Trump family earning about $412.5 million. Additionally, the company launched the stablecoin USD1, with a UAE ruling family company using $2 billion of USD1 to acquire Binance shares, from which the Trump family profited $243 million. The stablecoin is backed by US Treasury bonds, with annual yields over 4%, a low-risk, high-return "power-associated business".
Cumulative Total: $978.5 million + $412.5 million + $243 million = $1.634 billion
American Bitcoin
The Trump brothers partnered with stockbroker Kyle Woolf to establish American Bitcoin, merging with Hut 8 (a listed Bitcoin miner) to obtain 13% equity, currently valued at about $13 million. Eric Trump serves as "Chief Strategy Officer", claiming at a cryptocurrency conference that the company "will rewrite industry rules". Bitcoin mining relies on computing power competition, with limited total supply (95% already mined). However, the Trump family extensively promotes Bitcoin through their presidential identity, calling it "digital gold" and encouraging "ordinary Americans to buy as much as possible". Industry experts note that the company's stock is overvalued by investors, with the Trump brothers' shares far exceeding the equipment itself, currently estimated at $13 million.
Cumulative Total: $1.634 billion + $13 million = $1.647 billion
Trump Media Enters Cryptocurrency
Trump Media and Technology Group (the operating entity behind Truth Social) leveraged the new government's lenient cryptocurrency policy to sell crypto assets to ordinary investors through a cryptocurrency ETF, becoming the only "presidential-associated" investment channel. The company has raised $2.3 billion through private stock and bond sales to purchase Bitcoin and options, holding $3.1 billion in liquid assets (including Bitcoin) by the first quarter of 2025. Trump owns approximately 42% of shares, valued at $1.3 billion. Despite Truth Social's continuous losses, the company's cryptocurrency investment strategy of "meme stock conversion to cash" was described by accountant Bruce Dubinsky as a capital game "slightly better than selling snake oil".
Cumulative Total: $1.647 billion + $1.3 billion = $2.947 billion
Issuing Meme Coins
Three days before his second presidential term inauguration in 2025, Trump launched the TRUMP token, quickly generating $65 million from sales and trading fees. More controversially, Trump announced a exclusive dinner for the 220 largest TRUMP token holders, with the top 25 receiving a White House tour, which boosted token prices short-term and generated additional trading fees. Additionally, Melania also launched a MEME token called MELANIA. Despite price volatility, cryptocurrency research firm Chainalysis estimates the total profit from both tokens at approximately $385 million.
Cumulative Total: $2.947 billion + $385 million = $3.332 billion (approximately $3.4 billion)
Summary
The Trump family's business revenue spans from Mar-a-Lago membership fees to cryptocurrency MEME coins, covering physical assets, licensing agreements, and financial instruments, with the core logic always being the "presidential identity premium". The cumulative earnings of $3.4 billion not only break the record for power monetization in US political history but also blur the boundaries between public office and private interests.
