In a recent report by The New Yorker, it is alleged that President Donald Trump and his family have accumulated an estimated $3.4 billion in profits as a result of his two terms in office. The report outlines various sources of income, including profits from cryptocurrencies, the sale of MAGA-branded merchandise, and revenue generated from his Mar-a-Lago estate.
According to The New Yorker’s estimation, the Trump family has garnered $2.37 billion from cryptocurrency ventures, $339.6 million from financial endeavors, $270.8 million from hospitality ventures, $116 million from media-related activities, and $277.7 million from other sources, such as revenue from his private jet, legal fees, and merchandise sales.
Responding to the report, White House Press Secretary Karoline Leavitt refuted the claims of the President profiting from his time in office, stating that such allegations are baseless. Leavitt emphasized that President Trump’s decision to serve the country has resulted in financial losses, rather than gains, when compared to the potential earnings he could have amassed in other circumstances.
Leavitt highlighted President Trump’s reputation as a successful businessman and emphasized the family’s commitment to conducting their affairs with integrity and transparency. She contrasted this with past administrations, alluding to the Biden family as an example of potential misconduct.
A significant portion of the Trump family’s reported earnings is attributed to cryptocurrency ventures, with an estimated $385 million in profit stemming from cryptocurrencies branded as $TRUMP and $MELANIA, which were launched prior to Trump assuming office in January.
In addition to cryptocurrency endeavors, The New Yorker’s analysis indicates that Trump has reaped an approximate $27.7 million from his Trump Store merchandise sales. Trump’s unique approach as the first presidential candidate to operate a private online store, competing with his campaign in selling MAGA merchandise, has contributed to these earnings.
Moreover, The New Yorker’s assessment suggests that Trump has derived an additional $125 million in profits from his Mar-a-Lago estate in Florida, with a portion of this income attributed to campaign events and functions hosted at the club by GOP affiliates and prominent individuals.
The report also touches upon the alleged use of supporters’ contributions, approximating $100 million, for legal expenses faced by Trump. Despite restrictions on using campaign funds for personal legal matters, a loophole purportedly allowed Trump to channel funds through political action committees to cover legal fees in various cases, including the notable hush money trial involving Stormy Daniels.
In conclusion, the comprehensive analysis by The New Yorker raises significant questions about the financial activities of the Trump