2024-8-17 10:02 |
Donald Trump, once a vocal skeptic of cryptocurrency, now owns over $1 million in digital assets, according to his latest financial disclosure.
The former president, who previously called Bitcoin a scam, has amassed between $1 million and $5 million in Ethereum, signaling a shift in his stance toward the digital currency world.
While this sum is relatively modest compared to Trump’s broader financial portfolio, it underscores his growing interest in the crypto sector—a move likely aimed at appealing to the crypto lobby as he eyes a return to the White House.
Highlights of Trump’s financial portfolioHere’s a summary of the financial details from Donald Trump’s latest financial disclosures:
Cryptocurrency: Trump owns between $1 million and $5 million in Ethereum. Investment in gold: He holds $100,000 to $250,000 in gold bars. Real estate income: Mar-a-Lago in Florida generated about $57 million, a decrease of $8 million from a previous disclosure. Trump paid off a Deutsche Bank mortgage of between $25 million and $50 million on his Chicago Trump International hotel. Debts: Owes more than $500 million due to civil judgments: $83 million to writer E. Jean Carroll for defamation and $454 million to the New York Attorney General for accounting fraud. Both judgments are under appeal and are subject to bonds. Earnings from licensing and royalties: $12 million from licensing and royalty deals. $7 million from an NFT licensing deal. $5 million in royalties for his books “Letters to Trump” and “Our Journey Together.” $300,000 from a Bible published with country singer Lee Greenwood. Net worth and business ventures: Trump’s fortune was estimated at $6.5 billion, largely due to a SPAC merger involving his social media company, Trump Media & Technology Group, though the value of the media group has declined by $1.3 billion recently. Is Donald Trump a more crypto-friendly candidate?This pivot is particularly noteworthy as tech executives and crypto leaders increasingly view Trump as a more favorable candidate compared to President Joe Biden or Vice President Kamala Harris.
Trump’s running mate, Senator JD Vance of Ohio, is also a known advocate for cryptocurrency, with personal Bitcoin holdings valued between $100,001 and $250,000, according to his recent financial disclosure.
Trump’s engagement with the crypto community has been more than just investment.
During a speech to a crowd of 3,000 at the Bitcoin conference in Nashville, Trump made bold promises to the crypto sector.
He pledged to fire SEC Chairman Gary Gensler, a known opponent of cryptocurrency, on his first day in office.
Trump also vowed to establish a strategic national Bitcoin reserve and declared that the US must become a global crypto superpower.
In a striking comparison, he likened Bitcoin to the steel industry of 100 years ago, hinting at its potential to reshape the global economy.
Trump and the NFTsBeyond his cryptocurrency holdings, Trump has also capitalized on the booming market for non-fungible tokens (NFTs).
His venture into NFTs has been remarkably profitable, netting him $7.15 million from his unique digital collections.
Trump first entered the NFT space in 2022 with a collection featuring images of himself as a superhero, astronaut, and cowboy, a venture that quickly gained traction among his supporters.
Despite his initial skepticism toward digital assets, Trump, along with his wife Melania, has fully embraced the NFT trend.
Melania Trump launched her own NFT collection, featuring her “cobalt blue eyes,” which earned her $330,609 in licensing fees, as detailed in the financial disclosure.
In August 2023, Trump expanded his NFT portfolio with a new collection titled “MugShot,” centered around the theme of his ongoing legal battles.
The success of his previous collections has emboldened Trump to continue in this space.
In a June interview with Bloomberg Businessweek, he hinted at the release of a fourth NFT collection, citing overwhelming demand from his supporters.
“I did it three times, and I’m going to do another one because the people want me to do another one,” Trump said, expressing confidence in the continued success of his digital ventures.
Trump’s foray into the world of cryptocurrency and NFTs not only highlights his adaptability but also positions him as a significant figure in the rapidly evolving digital asset landscape.
As he continues to build his crypto portfolio and leverage the power of NFTs, Trump’s financial strategies reflect a keen understanding of modern investment trends, even as he navigates the complexities of the political arena.
The post Donald Trump’s wealth revealed: Former president holds over $1 mln in Ethereum, profits from NFTs appeared first on Invezz
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