How Truth Social and Cryptocurrency Enabled Trump to Double His Wealth in Just 1 yr

How Truth Social and Cryptocurrency Enabled Trump to Double His Wealth in Just One Year

Donald Trump has always measured his success against other wealthy individuals, and in the past year, he surged 738 positions on the World's Billionaires list, now ranking at No. 700. A year ago, Trump was teetering on the brink of losing control over his empire following a critical appellate court ruling. While many expected his downfall, his supporters rallied, providing the votes—and cryptocurrency—he needed to turn things around and significantly increase his wealth. What a transformative year it has been for Trump.

Just twelve months ago, his political aspirations seemed uncertain and his financial situation bleak. His bank account held around $413 million, but he faced a staggering $454 million fraud verdict in New York. With New York Attorney General Letitia James contemplating asset seizures—often glancing at the property at 40 Wall Street—Trump took action. He leveraged his strengths: fighting, selling, and ultimately succeeding. The outcome? The former president has seen his fortune soar from an estimated $2.3 billion to $5.1 billion. Trump understands that sometimes, delays can be more valuable than outright wins. Acknowledging he couldn't afford to pay the $454 million at once, his legal team proposed that the appellate court reduce or waive the bond requirement. The court obliged, slashing the bond to $175 million and preventing immediate asset seizure. Then, demonstrating his prowess as a salesperson, Trump took action. The day after securing the court's favorable decision, he went public with Truth Social's parent company. While the venture was generating minimal revenue amidst significant losses, fervent Trump supporters drove up the stock's price, adding billions to his wealth despite the eventual stock depreciation. By March 7, when Forbes calculated its billionaire rankings, Trump still held a $2.6 billion stake. Though this boosted his net worth on paper, Trump didn't have immediate cash access to these shares. He set about selling a variety of merchandise—from Bibles to sneakers—until he found a novel solution: Trump-themed cryptocurrency. Starting in October, he launched a project called World Liberty Financial, aimed at crypto newcomers with tokens that couldn't be resold, alongside vague promises of a "financial revolution." (He's listed as the chief crypto advocate, with his sons Eric, Don Jr., and NYU freshman Barron serving as Web3 ambassadors.) Initial interest was minimal until Trump won the presidential election shortly after. Then, following a wave of deregulation and a $75 million investment from crypto promoter Justin Sun, the influx of interest surged, leading to an estimated $390 million income—or about $245 million after taxes—flowing to Trump. Just days prior to his inauguration, the president-elect introduced the $TRUMP digital token, which made no claims as an investment but offered another gambling opportunity for enthusiasts.

This venture generated around $350 million in trading fees and tied crypto for entities linked to him. While the exact amount Trump received remains unclear—he shares the project with a partner reportedly tied to Bill Zanker, an old friend from the book *Trump: Think Big and Kick Ass*—it's reasonable to estimate he netted at least $110 million after taxes. Despite still being liable for that fraud judgment, with accruing interest pushing the total to roughly $500 million, Trump's financial landscape has radically shifted.

Letitia James might no longer covet 40 Wall Street, given its declining value and significant debts. However, with about $800 million in estimated liquidity from his token sales, it's unlikely Trump is overly concerned about the property or the attorney general's actions.
He's now a leading figure in the cryptocurrency world.

Bosman