Outlook Business Desk
In just few weeks, US President Donald Trump’s family amassed nearly $1.3 billion from two cryptocurrency projects, adding a rapidly growing stream of wealth to their established holdings in golf courses and resort properties.
The two ventures, World Liberty Financial and American Bitcoin Corp, are less than a year old but generated massive returns. The family’s net worth now stands at $7.7 billion, according to the Bloomberg Billionaires Index.
Donald Trump’s oldest sons, Donald Jr. and Eric, both executive vice presidents at the Trump Organisation, are taking the lead as the public representatives overseeing the family’s cryptocurrency investments.
World Liberty Financial, cofounded with Trump’s youngest son Barron Trump, began token trading on September 1. A deal with Alt5 Sigma to stockpile tokens added around $670 million to the family’s fortune, excluding locked tokens worth nearly $4 billion.
American Bitcoin Corp, a virtual asset mining company launched in March, gave Eric Trump’s stake a valuation exceeding $500 million when trading began on September 3, significantly boosting the Trump family’s cryptocurrency holdings.
Crypto ventures are emerging as a major driver of growth and earnings for the Trump family, whose business has traditionally centred on real estate and golf courses. Digital assets are now a key element of their wealth strategy.
The Trump family’s involvement in cryptocurrency has also drawn criticism from Democratic lawmakers and ethics groups over possible conflicts of interest, while President Donald Trump, calling himself the “crypto president,” emphasises crypto’s potential to strengthen banking and the US dollar.
In a notable shift, the Trump family is moving beyond traditional holdings like Trump Tower and Mar-a-Lago. They are now exploring “tokenizing” real estate, creating tradeable digital versions of physical properties, according to Warren Hui, an investor in Alt5 Sigma.