US President Donald Trump reported more than $1.4 billion in income from his family’s crypto ventures last year and now derives most of his money from digital assets, a review of his latest financial disclosures has shown.
Tuesday's filings, his annual disclosure for 2025 with the US Office of Government Ethics, showed that his companies received almost $800 million from World Liberty Financial, a crypto venture co-founded by Mr Trump and his sons. That income, which the President splits with family members, included more than $520 million from sales of crypto tokens and more than $250 million from the sale of interests in the World Liberty business.
Mr Trump reported $635 million from the sale of his Trump meme coins. The news underlines how crypto has transformed the President's fortunes. In his disclosure a year ago, Mr Trump reported $57.35 million from token sales at World Liberty, which increased ninefold in this year’s filing.
Reuters recently estimated the Trump family has made at least $2.3 billion from crypto-related projects since Mr Trump returned to the White House in 2025.
After taking office, Mr Trump's administration began to put in place policies and initiatives that the industry saw as beneficial, from implementing federal rules for stablecoins to curbing policing of the industry by the US Justice Department and the Securities and Exchange Commission.
For 2025, Mr Trump also reported more than $80 million in income from settlements with various media companies and $52 million in income from his company licensing his name to overseas property developers, driven principally by deals with partners in the Middle East.
“Neither the President nor his family has ever engaged – or will ever engage – in conflicts of interest,” White House spokeswoman Anna Kelly said in a statement. “President Trump proudly made the United States the crypto capital of the world through executive actions.
“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.”
While the White House has previously said Mr Trump's business interests are overseen by his children, he remains the beneficiary of the assets in the trust that ultimately receives the income.
New wealth driven by crypto
Although crypto is by far the largest driver of income for Mr Trump, his traditional businesses – golf courses and resorts, in particular – continue to bring in millions.
Mr Trump reported a 15 per cent rise in revenue at his golf and resort facilities to more than $500 million in 2025. The strongest increases were at clubs where the President has spent considerable time since his 2025 inauguration.
Revenue at his Mar-a-Lago club in Florida soared to $77 million from $50 million in 2024, while revenue at his golf club in nearby West Palm Beach jumped 27 per cent. Revenue fell at Mr Trump’s Los Angeles course last year. He hosted the winners of his second annual meme coin contest at Mar-a-Lago in April.
Mr Trump’s income from his real estate interests – the business in which he made his name – had less spectacular growth. He reported income from a dozen significant commercial real estate ventures, mainly interests in buildings he built or acquired decades ago. The filing does not give specific rent figures for properties including Trump Tower in New York, but rather income ranges. For most, the range in 2025 was the same as or lower than Mr Trump reported a decade earlier.
A representative for his family business, The Trump Organisation, said in a statement that "the breadth and depth of this filing further underscores our commitment to transparency. At nearly 1,000 pages, it represents one of the most comprehensive financial disclosure reports ever submitted and demonstrates a level of financial transparency unmatched in presidential history".
A representative for World Liberty Financial declined to comment.
Don Fox, a former acting head of the US federal ethics office, which oversees ethics regulations for federal staff and reviews financial disclosures, including Mr Trump's, said presidents and vice presidents are exempt from the ethics laws that prohibit conflicts of interest among executive branch employees.
"Every president in the post-Watergate era has managed his finances as though he were subject to conflicts of interest," he said. "With Trump, those norms are just totally out the window.
"He makes the case better than anyone that it's time for additional ethics reforms. I think in terms of legislation, one thing that could be done would be to limit the types of investments he and the Vice President [JD Vance] ... can hold."
