Planet Money

How much money President Trump and his family have made

January 14, 2026

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  • According to New Yorker writer David Kirkpatrick, President Trump and his family have made almost $4 billion "off of the presidency" in about a year during his second term, a significant increase from his first term. 
  • The Trump family has innovatively generated this income by diverting funds through personal merchandise sales, exploiting campaign finance loopholes for legal defense, and engaging in cryptocurrency ventures like NFTs and meme coins, which leverage the credibility of the presidency. 
  • Ethics expert Fred Wertheimer asserts that while past presidents had conflicts of interest, President Trump is unique in setting policies that directly benefit his and his family's businesses, particularly in areas like cryptocurrency, a practice unseen at this scale in U.S. history. 

Segments

Second Term Financial Shift
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(00:00:06)
  • Key Takeaway: The Trump family abandoned voluntary restrictions on overseas business deals in the second term, leading to increased financial activity.
  • Summary: In the first term, the family claimed they would avoid overseas hotel and business deals for optics, but this restraint was dropped for the second term. This shift allowed them to pursue deals globally, effectively deciding that criticism would occur regardless of their actions. This resulted in them making money “hand over fist” through various new transactions.
Financial Status Before Presidency
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(00:01:47)
  • Key Takeaway: President Trump was in a financially tight spot before his first term and an even tighter spot at the start of his second term due to legal liabilities.
  • Summary: Before the first term, Trump was reportedly losing income from endorsements and licensing, and by the start of the second term, he owed hundreds of millions in fraud and defamation lawsuits. However, his financial situation improved significantly, showing a sharp increase after just six months into the second term.
Defining Profit Off Presidency
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(00:03:01)
  • Key Takeaway: David Kirkpatrick’s accounting specifically excludes money the family would have made without the presidency, focusing only on deals inconceivable without his office.
  • Summary: The analysis intentionally excludes profits from regular, pre-existing businesses or deals that would likely have occurred anyway, such as staying at pre-owned hotels. The focus is strictly on transactions where the presidency was the catalyst for the deal, sale, or lucrative contract.
Distinction from Past Presidents
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(00:04:02)
  • Key Takeaway: Unlike past presidents who made money post-office or through campaign donations, Trump is the first to profit personally and explicitly off the White House while in office.
  • Summary: Other presidents have earned money through post-office speaking fees or campaign fundraising that sells access (like Lincoln Bedroom stays), but this money goes to campaigns or post-presidency endeavors. Trump’s earnings are cash paid directly into his pocket for personal use after leaving office.
Top Three Profit Categories
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(00:08:47)
  • Key Takeaway: The top three most striking profit areas identified are merchandise sales, cryptocurrency investments, and Gulf real estate deals.
  • Summary: Merchandise sales were the most surprising category, where the family sold branded items like sneakers and Bibles, diverting potential campaign funds into personal profit, totaling $27.7 million. Crypto, in its various forms, was the most lucrative overall category. Gulf real estate deals were striking due to the long-term contracts secured with Saudi entities.
Merch and Legal Fee Loophole
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(00:09:21)
  • Key Takeaway: The Trump family generated $127.7 million combined from personal merchandise sales and converting campaign funds into personal legal defense money.
  • Summary: The Trump organization sold branded merchandise that looked like campaign support but directed profits to personal accounts, netting $27.7 million. Furthermore, Trump utilized a loophole to convert campaign money into funds usable for his personal legal defense in defamation and election interference lawsuits, estimated at $100 million.
Media and Jet Valuation
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(00:10:52)
  • Key Takeaway: Gains from media-related activities (Truth Social, lawsuits, Melania’s movie deal) and the Qatari Royal Jet gift total over $266 million.
  • Summary: Truth Social is estimated to have generated about $25 million due to the president’s status, and frivolous lawsuits against media companies added an estimated $91 million in gains. The Qatari government’s gift of a private jet, intended for the future presidential library, was valued at $150 million because presidents can benefit from their libraries.
Hospitality Gains Breakdown
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(00:12:21)
  • Key Takeaway: Hospitality earnings, including Mar-a-Lago fee hikes and favorable foreign hotel deals, account for approximately $271 million.
  • Summary: Mar-a-Lago initiation fees were aggressively increased from $100,000 to $1 million following the presidency, contributing an estimated $125 million in extra profit. Favorable, expedited treatment for the Trump Hotel in Hanoi was estimated at $40 million, while Persian Gulf real estate deals with a Saudi company secured unusually long 30-year contracts, estimated at $105.8 million.
Finance Deals: Kushner and Don Jr.
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(00:15:48)
  • Key Takeaway: Finance deals involving Jared Kushner and Donald Trump Jr. netted the family over $339 million, primarily through Saudi investment.
  • Summary: Jared Kushner secured a $2 billion investment from Saudi Arabia for his private equity firm, despite advisory board warnings against his lack of experience, netting him $320 million. Donald Trump Jr.’s role as a partner in the investment fund $1789 Capital is estimated to have brought in $19.6 million, based on the assumption his role was contingent on his father’s presidency.
Cryptocurrency Profit Centers
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(00:17:52)
  • Key Takeaway: Cryptocurrency ventures, including NFTs, token investments, and Trump Media’s Bitcoin holdings, account for the largest portion of the calculated gains, nearing $2.5 billion.
  • Summary: The family profited $14.4 million from digital cartoon NFTs and $974.5 million from selling tokens for World Liberty Financial. The stablecoin USD1, marketed with presidential credibility, generated an estimated $243 million from a $2 billion purchase by the UAE government. Trump’s 41% stake in Trump Media, which holds Bitcoin, was valued at over $1 billion.
Comparison to Historical Precedents
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(00:23:01)
  • Key Takeaway: Ethics expert Fred Wertheimer confirms that no U.S. president has made money on the scale of President Trump while actively controlling policy that benefits those assets.
  • Summary: While past presidents like Lyndon Johnson and Warren G. Harding had conflicts of interest from pre-existing businesses, the amounts were negligible compared to Trump’s billions. Wertheimer notes that Trump is unique because he is setting policies favorable to his cryptocurrency holdings while simultaneously profiting from them. This level of personal wealth accumulation while in office is unprecedented in U.S. history, though comparable to wealthy dictators abroad.