Barron Trump may have made millions from family's lucrative crypto firm: report
Barron Trump, the youngest son of the 47th President, may have raked in millions of dollars from the sale of crypto tokens linked to the family's lucrative venture into digital tokens, according to a report.
The 19-year-old New York University student could have picked up a cool $40 million (AU$61 million) — $25 million (AU$38 million) after taxes — from the sale of digital assets by World Liberty Financial, the Trump family firm launched nine months ago after Barron persuaded his dad about the benefits of crypto, Forbes reported.
'Barron knows so much about this,' commander-in-chief said during an interview in September after the launch. 'Barron's a young guy, but he knows it — he talks about his wallet. He's got four wallets or something, and I'm saying, 'What is a wallet?''
World Liberty has been a financial bonanza for the family. In March, World Liberty announced that it had sold $550 million (AU$850 million) worth of tokens.
An Office of Government Ethics filing released by President Trump last week declared he had made $57 million (AU$88 million) from token sales.
It also said that the real estate mogul held a 75 per cent stake in his umbrella company, DT Marks Defi LLC, with unnamed 'third parties' holding the other 25 per cent.
Barron Trump is listed as a 'co-founder' of World Liberty Financial alongside the president, as well as Eric and Donald Trump Jr, the president's two eldest sons.
Forbes, which provided no direct evidence for its claims of Barron Trump's massive digital windfall, suggested that he owned a 7.5 per cent stake in the Delaware-based umbrella firm.
The stake would mirror what the NYU freshman holds in the Trump Organization's Washington, DC hotel, Forbes said.
Barron Trump's name does not appear in the company's solitary SEC filing from October 30 last year.
Also listed as business partners in the venture are Middle East envoy Steve Witkoff and his son, Zachary.
An analysis by Bloomberg, the financial news outlet, estimates the president's net worth has doubled since the start of his 2024 campaign, standing at just over US$5.4 billion
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News.com.au
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- News.com.au
‘Gone': US move stopped world in its tracks
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ABC News
43 minutes ago
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US attack 'not the end of the war but the start'
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News.com.au
an hour ago
- News.com.au
The US right wing is fracturing as ‘warmongers' run riot in face of Iran escalation
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The anti-war wing of America who stood behind Trump as America's 'solution' is now coming to terms with the current crisis and what it could mean for the future. Meanwhile, the rusted-on neoconservatives have crawled back out from under the woodwork claiming, as many did in the George Bush administration 20 years ago, that they are working for the good of the world. The fracturing of the US right is picking up pace. Cruz stumbles in spat with Carlson While he aggressively endorsed Trump in the lead-up to the election, Carlson has refused to be an absolutist. He has criticised America's strong ties to Israel, which have placed Washington in a delicate situation as Benjamin Netanyahu uses US-funded armaments at will against his foes. 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