Donald Trump just had the most lucrative year of his life. The president is now worth a record $7.3 billion, up from $4.3 billion in 2024, when he was still running for office. The $3 billion gain vaulted him 118 spots on The Forbes 400, where he lands at No. 201 this year.
No president in U.S. history has used his position of power to profit as immensely as Trump. His primary vehicle for enrichment: cryptocurrency, an asset class full of hype and vulnerable to regulators. Teaming up with his three sons, Trump announced a crypto venture in September 2024 named World Liberty Financial, which initially struggled to gain traction. Then he won the White House.
Crypto entrepreneur Justin Sun, whom the Securities and Exchange Commission had accused of fraud, invested $75 million, routing an estimated $40 million to the president-elect and millions more to his family members, kickstarting a bonanza that has since snowballed. In January, days before reentering the White House, Trump launched a memecoin, adding hundreds of millions to his pile of cash.
In office, Trump rolled back regulatory enforcement of crypto and signed legislation favorable to the industry, ensuring he would personally benefit from conflicts of interest. His memecoins, initially tied up for three months, now unlock daily, freeing tens of millions per week. World Liberty Financial, meanwhile, has continued selling tokens, including to opaque buyers, generating an estimated $1.4 billion so far. A Trump family entity receives a roughly 75% cut of those sales, amounting to more than $1 billion.
The president apparently made plans to sell part of that entity, according to a letter that a court-appointed monitor overseeing the Trump Organization wrote to a New York judge in May. It remains unclear what percentage the president sold or whether the transaction even happened. The identity of the supposed buyer also remains unknown. The Trump Organization did not respond to questions about the deal. (Shortly after a Forbes reporter first exposed it, the president ranted about the journalist on Truth Social.)
With supporters piling into risky assets, Trump deployed his cash conservatively. He paid off $114 million of debt against 40 Wall Street, a troubled New York skyscraper, at the start of the summer. In July, he knocked out a couple of smaller loans, totaling an estimated $15 million, against mansions in New York and Florida. He also loaded up on municipal and corporate bonds. Trump’s balance sheet is now stronger than it has ever been, with an estimated $1.1 billion of liabilities and $8.4 billion of assets, $1.1 billion of which are in liquid holdings.
Almost everything in his portfolio is doing well. Appellate judges in New York threw out a roughly $500 million fraud penalty in August. Trump’s real-estate licensing business, stalled out for years, has come roaring back to life, with new deals in Saudi Arabia, Vietnam, Romania, India, Qatar and the United Arab Emirates. Revenues jumped an estimated 580% in 2024 to $45 million, boosting the value of the business by $400 million. In the United States, the president’s golf-and-club portfolio continues to thrive, as profits jumped an estimated 30% in 2024, adding roughly $325 million to Trump’s net worth.
With so much money coming in, the president may soon get back to his first love, building. He and his family have been making noise for years about constructing small villages at golf resorts in Scotland and Florida. Projects like that require a lot of liquidity, something that has not always been available to Trump. But now, after reclaiming the White House—and cashing in on the power that comes with it—he can pretty much do anything he wants.
—With additional reporting by Kyle-Khan Mullins, Zach Everson and Thomas Gallagher.