The Trump family just got into the phone business. Here's what we know about how the president makes money

Brent D. Griffiths

Mon, Jun 16, 2025, 5:18 PM 4 min read

• Donald Trump reported making more than $600 million in 2024.

• Trump's annual financial disclosure shows how he continues to grow his fortune.

• The president's family continues to ink deals while Trump is in office.

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'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 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.