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Trump Reports Over $600 Million in Income from Crypto, Golf, and Licensing Ventures

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Donald Trump disclosed more than $600 million in income from cryptocurrency, golf clubs, licensing deals, and other businesses in a financial report released on Friday, offering insight into the expansive portfolio of the billionaire former president.

The report, which appears to cover the 2024 calendar year, highlights Trump’s growing earnings from cryptocurrency ventures alongside revenues from real estate developments, golf resorts, and licensing agreements. Reuters estimates Trump’s total assets at a minimum of $1.6 billion based on the disclosure.

Although Trump has placed his businesses in a trust managed by his children, the income still flows to him, raising concerns about potential conflicts of interest. Some cryptocurrency-related businesses have benefited from policies enacted under Trump’s administration, fueling criticism.

White House press secretary Karoline Leavitt emphasized the administration’s commitment to transparency and compliance with ethics rules in a statement to Reuters.

Key highlights from the disclosure include:

  • The meme cryptocurrency $TRUMP reportedly generated $320 million in fees, though the distribution of those fees remains undisclosed.

  • The Trump family earned over $400 million from World Liberty Financial, a decentralized finance company, with Trump personally reporting $57.35 million from token sales and holding 15.75 billion governance tokens.

  • The family is involved in bitcoin mining operations and digital asset ETFs.

  • Trump Media & Technology Group, owner of Truth Social, represents a significant part of Trump’s reported wealth.

  • Passive investments, including stakes in Blue Owl Capital, Charles Schwab, and Invesco funds, generated at least $12 million in income from assets valued at $211 million.

  • Trump’s golf resorts in Florida—Jupiter, Doral, and West Palm Beach—and the Mar-a-Lago private club earned at least $217.7 million in revenue, with the Miami-area Trump National Doral golf resort alone bringing in $110.4 million.

  • The disclosure also noted international income streams, including $5 million in licensing fees from a Vietnamese development, $10 million in development fees from a project in India, and nearly $16 million in licensing fees from a Dubai project.

  • Additional royalty income includes $1.3 million from the Greenwood Bible, $2.8 million from Trump Watches, and $2.5 million from Trump Sneakers and Fragrances.

  • Trump’s NFTs brought in $1.16 million, while First Lady Melania Trump earned approximately $216,700 from licensing her own NFT collection.

The financial disclosure provides a snapshot of Trump’s diverse and global business interests during his presidency, with significant earnings from emerging sectors like cryptocurrency alongside traditional revenue streams.

PayPal’s Profit Growth Focus Slows Unbranded Business, Shares Drop 10%

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PayPal’s shares fell nearly 10% on Tuesday after the digital payments giant reported a sharp slowdown in its unbranded card processing business growth and a shrinkage in its operating margin during the fourth quarter. The company’s unbranded payments, which involve transactions for other firms rather than PayPal itself, had experienced strong growth in recent years but traditionally operated on low margins due to intense competition.

Under CEO Alex Chriss, PayPal has focused on “profitable growth” and revamped its pricing strategy, particularly for its Braintree product (the non-PayPal branded checkout service), which has led to some customer losses. In the fourth quarter, total payment volume growth for unbranded payment processing slowed to just 2%, a significant drop from 29% the previous year. Despite this, the focus on profitable growth has improved overall profitability.

Branded product growth, which includes services like Venmo where consumers and merchants interact within PayPal’s platform, also fell short of analysts’ expectations, increasing by only 6%, below the expected 7%. This outcome overshadowed an optimistic forecast for 2025 profit growth that surpassed Wall Street estimates.

The results come amid increasing competition in the digital payments space, with technology giants like Apple and Google, along with traditional card networks like Visa and Mastercard, expanding into PayPal’s core market. This competition has intensified as more consumers turn to mobile payment options such as Google Pay and Apple Pay.

Despite a contraction in adjusted operating margins by 34 basis points to 18% in Q4, PayPal’s shift towards high-margin products helped the company close the year with an expansion in margins, rising 116 basis points to 18.4%.

CEO Chriss, who took over in late 2023, emphasized the company’s commitment to focusing on high-margin products and optimizing its offerings for better profitability. PayPal’s new initiatives include a “one-click” checkout feature called Fastlane and forming new partnerships to strengthen its market position.

Looking ahead, PayPal expects its adjusted profit for the full year to grow between $4.95 and $5.10 per share, surpassing Wall Street’s estimated $4.90 per share. The company reported an adjusted profit of $1.19 for the fourth quarter, exceeding estimates of $1.12. Its revenue for Q4 rose by 4% to $8.4 billion, and total payment volume increased by 7%.