Trump's 2025 financial disclosure shows over US$2 billion income, mostly from crypto

President Donald Trump reported more than US$2 billion in income for 2025, according to an annual financial disclosure released on 30 June 2026, with cryptocurrency ventures accounting for the largest share of his earnings.

The 927-page filing, released by the Office of Government Ethics (OGE), showed Trump's companies received nearly US$800 million from World Liberty Financial (WLF), the cryptocurrency firm he co-founded with his sons.

Crypto ventures dominate earnings

WLF income included more than US$520 million from token sales and over US$250 million from the sale of interests in the business, the filing showed. Token sales rose more than ninefold from US$57.35 million the previous year.

Trump separately reported US$635 million in royalties from Celebration Coins, the entity behind his $TRUMP token, which launched three days before he took office for his second term.

The coin's value has fallen sharply since launch, from a peak of US$74.24 to about US$1.67, according to Coinbase. Reuters estimated the Trump family has generated at least US$2.3 billion from crypto projects since 2025.

His total crypto income for the year was roughly US$1.4 billion, the filing indicated.

WLF was launched during the 2024 presidential campaign. It was co-founded by Trump, his sons Eric Trump and Donald Trump Jr, and Zack Witkoff and Alex Witkoff, sons of US special envoy Steve Witkoff.

The firm's stablecoin, USD1, was used last year by an Abu Dhabi state-owned wealth fund to help finance a multibillion-dollar investment in Binance.

Binance co-founder Changpeng Zhao later received a pardon from Trump, who has denied any link between the two events.

Favourable regulatory climate

Trump's crypto earnings have grown alongside a friendlier regulatory environment for the industry. Since returning to office, his administration has advanced stablecoin regulation and scaled back enforcement activity by federal regulators.

Paul Atkins, the Trump-appointed chairman of the Securities and Exchange Commission (SEC), has moved the agency away from the stricter, enforcement-led approach of his predecessor since taking the role in April 2025.

Trump signed the GENIUS Act into law last July, aiming to establish the United States as a leader in digital assets. Forbes magazine estimated his net worth at US$6 billion, up from US$2.3 billion in 2024.

Golf, resort and real estate income

Golf and resort revenue exceeded US$500 million in 2025, up about 15 per cent from the previous year, the filing showed. Revenue at Trump National Doral Golf Club reached US$121.8 million, while the Mar-a-Lago Club earned US$77.4 million.

Trump's golf club in West Palm Beach earned US$36.9 million, up 27 per cent, and clubs in Bedminster, Jupiter and Turnberry each earned more than US$30 million. Revenue at his Los Angeles golf course declined.

Income from about a dozen major commercial real estate holdings, including Trump Tower in New York, showed little growth. Most reported income unchanged from, or below, the ranges Trump disclosed a decade earlier, according to Reuters.

Licensing, settlements and other earnings

Trump reported US$52 million from licensing deals allowing overseas developers to use the Trump name, driven largely by partnerships in the Middle East. He also earned US$4.7 million in royalties from Trump-branded watches.

Further income came from branded sneakers, fragrances, guitars, and a Bible produced with singer Lee Greenwood. Trump Restaurants LLC reported nearly US$2.9 million in food and beverage sales.

The filing listed more than US$86.5 million from legal settlements with media companies. These included US$16 million each from ABC and CBS, US$24.5 million from Meta, US$22 million from YouTube and US$8 million from X.

Most of that settlement money went to Trump's future presidential library or the Trust for the National Mall, rather than to Trump personally, the White House has said.

Melania Trump's income

First lady Melania Trump reported more than US$10 million from a licensing agreement tied to "Melania," a documentary about her.

She earned a further US$6 million from the sale of NFTs and other collectibles, and about US$521,000 from her memoir.

Response and criticism

White House deputy press secretary Anna Kelly said neither Trump nor his family had "ever engaged... in conflicts of interest," adding that the administration acted "in the best interest of the American people."

Richard Painter, a former White House ethics lawyer under President George W. Bush, described the scale of Trump's crypto earnings as "extraordinary" and said it amounted to a clear conflict of interest.

Will Walker-Arnott, director of private clients at Raymond James Wealth Management, said Trump's approach contrasted with past presidents such as Jimmy Carter and George W. Bush, who divested business interests before taking office.

Trump has said he is not subject to federal conflict of interest laws and does not personally manage his finances. He has attributed his profits to broader stock market gains, saying "everybody's profiting."

The disclosure also listed several court judgments against Trump as liabilities, including a civil fraud penalty brought by New York Attorney General Letitia James, later reduced on appeal.

Two further judgements are owed to E. Jean Carroll over sexual abuse and defamation claims, which Trump denies. The US Supreme Court this week declined to hear his appeal in that case.