Rhiannon Ingle
US President Donald Trump's net worth has been on the up since he took over the Oval Office for a second time, having nearly tripled since becoming president. But why?
Back in September, Trump was worth a record $7.3 billion, up from $4.3 billion in 2024, when he was still running for office.
The $3 billion gain saw him jump 118 spots on The Forbes 400 list, where he landed at No. 201, but a few months later, in December, he sits as the 578th richest person in the world.
Alongside his lucrative real estate investments, such as his golf courses, mansions, and winery, one of the key vehicles driving Trump's boost in net worth is thought to be crypto.
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As of today (29 December), the 79-year-old Republican is worth a staggering $6.6 billion.
In September 2024, Trump joined forces with his three sons to unveil World Liberty Financial. It spluttered at first, and then he won the election.
Trump, who once said cryptocurrency generally 'seems like a scam' and that crypto is a 'disaster waiting to happen', seemed to change his tune halfway through his presidential campaign to return to office.
His campaign website invited supporters to send donations in crypto, saying Trump 'stands ready to embrace new technologies that will Make America Great Again'.
Industry players backed him heavily, and, according to a tally by Fortune, crypto firms donated $18 million to his inauguration fund.
Three days before his inauguration came the $TRUMP memecoin. Two days later, US First Lady Melania Trump released her version - $MELANIA.
A little over a month into Trump’s administration, a White House fact sheet quoted Trump as saying: "I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry."
Many worry Trump’s crypto holdings could nudge his administration towards softer regulations of the industry that just happen to boost the value of his own investments, but White House Press Secretary Karoline Leavitt claimed in May that the president was abiding by all applicable conflict-of-interest laws.
"I think everybody, the American public, believes it's absurd for anyone to insinuate that this president is profiting off of the presidency," she said.
Cryptocurrency investments are highly volatile and involve significant risk, and those looking to invest should only commit funds they can afford to lose. For free, confidential financial advice, visit Talking Money.