Bibles, golf courses and crypto: How Donald Trump made his money in 2024
In addition to the meme coin fees, the Trump family has raked in more than $US400 million from World Liberty Financial, a decentralised finance company. The Trump family is involved, also, with a bitcoin mining operation and digital asset exchange-traded funds.
In the disclosures, Trump reported $US57.35 million from token sales at World Liberty. He also reported holding 15.75 billion governance tokens in the venture.
The wealth of the Republican businessman-turned-politician ranges from crypto to real estate, and a large part on paper is tied up in his stake in Trump Media & Technology Group, owner of social media platform Truth Social.
Besides assets and revenues from his business ventures, Trump reported at least $US12 million in income, including through interest and dividends, from passive investments
totaling at least $US211 million, a Reuters calculation shows.
His biggest investments were in alternative fund manager Blue Owl Capital Corp and in government bond funds managed by Charles Schwab and Invesco.
The disclosure often only gave ranges for the value of his assets and income; Reuters used the lower amount listed, meaning the total value of his assets and income was almost certainly higher.
The disclosure showed income from various assets including Trump's properties in Florida. Trump's three golf-focused resorts in the state – Jupiter, Doral and West Palm Beach – plus his nearby private members' club at Mar-a-Lago generated at least $US217.7 million in income, according to the filing.
Trump National Doral, the expansive Miami-area golf hub known for its Blue Monster course, was the family's single largest income source at $US110.4 million. The income figures provided are essentially revenue, not net profits after subtracting costs.
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The disclosure underlined the global nature of the Trump family business, listing income of $US5 million in licence fees from a development in Vietnam, $US10 million in development fees from a project in India and almost $US16 million in licensing fees for a Dubai project.
Trump collected royalty money, also, from a variety of deals – $US1.3 million from the Greenwood Bible (its website describes it as 'the only Bible officially endorsed by [country singer] Lee Greenwood and President Trump'); $US2.8 million from Trump Watches, and $US2.5 million from Trump Sneakers and Fragrances.
Trump listed $US1.16 million in income from his NFTs – digital trading cards in his likeness – while first lady Melania Trump earned about $US216,700 from licence fees on her own NFT
collection.
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The Advertiser
an hour ago
- The Advertiser
Back-to-back rate cuts tipped when Reserve Bank meets
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The benchmark S&P/ASX200 index finished Friday up 7.2 points, or 0.08 per cent, at 8,603.0 while the All Ordinaries climbed 8.3 points, or 0.09 per cent, to 8,841.9. Mortgage holders could receive their first back-to-back interest rate cuts in more than five years, with the Reserve Bank widely expected to lower rates. The central bank's monetary policy board meeting, which begins on Monday, tops the week's economic agenda, although Donald Trump's tariffs could once again roil markets. The US president paused his sweeping "liberation day" tariffs for 90 days to allow extra time for individual countries to negotiate a better deal. But with only three agreements struck - with the UK, China and Vietnam - it's unclear what the White House will decree when the tariff deadline expires on Wednesday, US time. ANZ Bank economists Bansi Madhavani and Brian Martin said it was likely the deadline for countries involved in negotiations would be extended, with US Treasury Secretary Bessent signalling he expected more deals to be wrapped up by September 1. "In the unlikely event that reciprocal tariffs are fully implemented or expanded, we expect downside risks to US growth and upside risks to inflation to intensify," they said. But CBA chief economist Luke Yeaman said there was a high risk Mr Trump could lose patience over the slow progress of negotiations and simply reinstate unilateral trade tariffs. "Depending where he sets that (tariff) rate, he could set off another round of quite significant market volatility in the July/August period," Mr Yeaman said. Given the backdrop of ongoing economic uncertainty and following a softer-than-expected start to the year for the Australian consumer, markets have almost fully priced in a 25-basis-point rate cut from the Reserve Bank on Tuesday. Weaker-than-expected retail sales figures released on Wednesday convinced ANZ's head of Australian economics, Adam Boyton, to join the other big four banks in bringing his rate cut prediction forward to July. While economists are less certain than the market that there will be a cut, almost nine in 10 surveyed by comparison website Finder agreed a reduction was on the cards. Independent economist Saul Eslake was one of 30 economists surveyed who predicted a rate cut, with just four expecting the Reserve Bank to hold the rate steady at 3.85 per cent. "Underlying inflation is now below the mid-point of the target band and for what it's worth, headline inflation is only just above the bottom of the target band and economic growth is still sluggish, so there is no need for monetary policy to be as restrictive as it still is," Mr Eslake said. A cut of 25 basis points would save the median mortgage holder with a $600,000 debt about $90 a month on interest repayments. More than three-quarters of the economists surveyed also predicted another rate cut in August, which would bring the cumulative reduction to 100 basis points since February and represent the sharpest easing of monetary policy in more than 12 years. With Wall Street closed on Friday for Independence Day, investors were left to consider the impact as President Trump signed a sweeping spending bill into law. The S&P 500 gained 51.94 points, or 0.83 per cent, to finish Thursday at 6,279.36. The Nasdaq Composite gained 207.97 points, or 1.02 per cent, to 20,601.10 and the Dow Jones Industrial Average rose 344.11 points, or 0.77 per cent, to 44,828.53. Following the close, the House narrowly approved Trump's signature bill, which would add $US3.4 trillion ($A5.2 trillion) to the nation's $US36.2 trillion debt. Australian share futures were steady, finishing at 3,175 points. The benchmark S&P/ASX200 index finished Friday up 7.2 points, or 0.08 per cent, at 8,603.0 while the All Ordinaries climbed 8.3 points, or 0.09 per cent, to 8,841.9. Mortgage holders could receive their first back-to-back interest rate cuts in more than five years, with the Reserve Bank widely expected to lower rates. The central bank's monetary policy board meeting, which begins on Monday, tops the week's economic agenda, although Donald Trump's tariffs could once again roil markets. The US president paused his sweeping "liberation day" tariffs for 90 days to allow extra time for individual countries to negotiate a better deal. But with only three agreements struck - with the UK, China and Vietnam - it's unclear what the White House will decree when the tariff deadline expires on Wednesday, US time. ANZ Bank economists Bansi Madhavani and Brian Martin said it was likely the deadline for countries involved in negotiations would be extended, with US Treasury Secretary Bessent signalling he expected more deals to be wrapped up by September 1. "In the unlikely event that reciprocal tariffs are fully implemented or expanded, we expect downside risks to US growth and upside risks to inflation to intensify," they said. But CBA chief economist Luke Yeaman said there was a high risk Mr Trump could lose patience over the slow progress of negotiations and simply reinstate unilateral trade tariffs. "Depending where he sets that (tariff) rate, he could set off another round of quite significant market volatility in the July/August period," Mr Yeaman said. Given the backdrop of ongoing economic uncertainty and following a softer-than-expected start to the year for the Australian consumer, markets have almost fully priced in a 25-basis-point rate cut from the Reserve Bank on Tuesday. Weaker-than-expected retail sales figures released on Wednesday convinced ANZ's head of Australian economics, Adam Boyton, to join the other big four banks in bringing his rate cut prediction forward to July. While economists are less certain than the market that there will be a cut, almost nine in 10 surveyed by comparison website Finder agreed a reduction was on the cards. Independent economist Saul Eslake was one of 30 economists surveyed who predicted a rate cut, with just four expecting the Reserve Bank to hold the rate steady at 3.85 per cent. "Underlying inflation is now below the mid-point of the target band and for what it's worth, headline inflation is only just above the bottom of the target band and economic growth is still sluggish, so there is no need for monetary policy to be as restrictive as it still is," Mr Eslake said. A cut of 25 basis points would save the median mortgage holder with a $600,000 debt about $90 a month on interest repayments. More than three-quarters of the economists surveyed also predicted another rate cut in August, which would bring the cumulative reduction to 100 basis points since February and represent the sharpest easing of monetary policy in more than 12 years. With Wall Street closed on Friday for Independence Day, investors were left to consider the impact as President Trump signed a sweeping spending bill into law. The S&P 500 gained 51.94 points, or 0.83 per cent, to finish Thursday at 6,279.36. The Nasdaq Composite gained 207.97 points, or 1.02 per cent, to 20,601.10 and the Dow Jones Industrial Average rose 344.11 points, or 0.77 per cent, to 44,828.53. Following the close, the House narrowly approved Trump's signature bill, which would add $US3.4 trillion ($A5.2 trillion) to the nation's $US36.2 trillion debt. Australian share futures were steady, finishing at 3,175 points. 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Sky News AU
2 hours ago
- Sky News AU
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Perth Now
2 hours ago
- Perth Now
Back-to-back rate cuts tipped when Reserve Bank meets
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