Report: Trump Earned $57.3M from World Liberty Financial Token Launch Amid Bipartisan Criticism
Former President Donald Trump generated $57.3 million from the token launch of World Liberty Financial, a cryptocurrency venture he co-founded with his sons. However, this significant windfall drew sharp, bipartisan criticism regarding potential conflicts of interest.
World Liberty Financial Details and Criticism
- World Liberty Financial, a decentralized finance platform, raised approximately $550 million through two token sales.
- The platform attracted over 85,000 investors across the globe. Reportedly launched with his sons, Don Jr., Eric, and Barron.
The disclosure, filed with the Office of Government Ethics and spanning 234 pages, reveals this crypto venture constituted a major earnings event even before Trump’s formal entry into the 2024 presidency.
“It is open corruption,” declared Representative Gerry Connolly, characterizing Trump’s deep crypto ties with potential conflicts of interest.
Overall 2024 Income Sustained Over Crypto Windfall
Despite the substantial crypto earnings, Trump’s diverse business holdings demonstrably drove most of his reported 2024 income, pushing his total earnings past $600 million.
Top Income Sources
- Golf Resorts Remain Primary Revenue Source: Trump Endeavor 12 LLC, his Miami-based company owning golf courses and resorts, generated $110 million, nearly double the amount earned from World Liberty Financial.
- Trump’s Mar-a-Lago Club contributed over $50 million in resort-related revenue.
- Trump’s Turnberry Scotland golf resort is valued at more than $50 million.
- Licensing and Brand Deals: CIC Digital LLC earned $1.1 million from licensing Trump’s image on non-fungible tokens (NFTs) and maintains an Ethereum wallet estimated at value around $1 million.
- E-commerce and Products: Significant royalty income was derived from various ventures, including $2.8 million from Trump Watches, $2.5 million from Trump Sneakers and Fragrances, and $1.3 million from the Greenwood Bible.
- Current Digital Assets: While the $57.3 million crypto gain highlights his pivot towards digital assets following past dismissals of Bitcoin (“scam against the dollar”), Trump’s newer meme coin venture, Fight Fight Fight LLC, falls outside the reported 2024 disclosure period.
Financial Obligations
- The filing details eleven outstanding debts, including judgments from E. Jean Carroll’s sexual assault and defamation cases, court costs, and obligations stemming from his January 2023 34-felony conviction ($2m fine, indefinite stay pending appeal).
- Seven real estate loans exceed $50 million each, secured against properties including Trump Tower and Trump National Doral.
