The president’s annual financial disclosure for 2025 reports that more than $1.4 billion in income last year came from his family’s cryptocurrency ventures, according to the filing submitted to the U.S. Office of Government Ethics. The record underscores that digital assets are now the primary source of reported revenue for the president, eclipsing many of his longstanding business lines.
The disclosure shows the president’s companies received almost $800 million from World Liberty Financial, a crypto enterprise he co-founded with his sons. That amount, which the filing notes is split among family members, breaks down to more than $520 million from sales of crypto tokens and in excess of $250 million from the sale of interests in the World Liberty business.
In addition to the World Liberty receipts, the filing lists $635 million in income from the sale of Trump-branded meme coins. Taken together, the crypto-related receipts reported for 2025 exceed $1.4 billion and represent a substantial increase from the prior year.
By comparison, the president’s 2024 disclosure recorded $57.35 million from token sales at World Liberty. The jump to the most recent filing represents roughly a nine-fold increase in token-sale proceeds reported from that venture.
The filings also note wider family crypto gains since the president’s return to the White House in 2025. A recent estimate included in public discussion placed total crypto-related receipts to the Trump family at at least $2.3 billion across that period, a figure that draws on the disclosures and related reporting.
Policy and industry context in the filing
The disclosure reiterates that, on assuming office, the president implemented a range of policies and initiatives that the crypto industry viewed as beneficial. Those measures included putting federal rules in place for stablecoins and scaling back enforcement and investigative activity by the U.S. Justice Department and the Securities and Exchange Commission, according to the filing’s description of recent policy moves.
White House commentary included with the filings defended the president’s record and business conduct. A White House spokesperson, Anna Kelly, said: “Neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest. President Trump proudly made the United States the crypto capital of the world through executive actions.” Kelly added: “All actions by President Trump and his administration are taken in the best interest of the American people – and any so-called ‘reporters’ pushing otherwise are recycling the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade.”
The filing also notes that, while the president’s business interests are said to be overseen by his children, the president remains the beneficiary of the assets in the trust that ultimately receives the income.
Other sources of income reported in 2025
Though crypto is the largest single driver of reported income for 2025, the president’s traditional business operations continued to contribute meaningful revenue. The disclosure shows revenue at the president’s golf courses and resorts rose 15% to just over $500 million for the year.
Some clubs saw stronger gains, particularly at locations where the president has spent significant time since his 2025 inauguration. Revenue at Mar-a-Lago, identified in the filing as the Winter White House, climbed to $77 million from $50 million in 2024. Similarly, revenue at the golf club in West Palm Beach rose by 27% year-on-year. The filing records a decline in revenue at the Los Angeles golf course.
The disclosure also records other revenue items for 2025, including more than $80 million from settlements with various media companies and $52 million in income from licensing the president’s name to overseas property developers, driven principally by deals with Middle Eastern partners.
The filing shows the president’s real estate interests - the sector where he built his business reputation - produced more modest growth. Income was reported from roughly a dozen significant commercial real estate ventures, primarily interests in buildings developed or acquired years earlier. The disclosure uses income ranges rather than specific rent rolls for properties such as Trump Tower, and for most properties the 2025 income range was the same as or lower than the ranges reported about a decade prior.
The filings also show the president obtained a loan of more than $50 million last year from Charles Schwab Bank. The disclosure does not specify the purpose of that loan.
The president hosted the winners of his second annual meme coin contest at Mar-a-Lago in April, an event noted in the filing.
Statements from business representatives and an ethics official
A spokesperson for the Trump Organization characterized the disclosure as a substantial demonstration of transparency, saying the nearly 1,000-page filing "represents one of the most comprehensive financial disclosure reports ever submitted and demonstrates a level of financial transparency unmatched in presidential history."
A representative of World Liberty Financial declined to comment to the public record.
Don Fox, a former acting head of the federal ethics office that oversees ethics regulations and reviews officials’ financial disclosures, commented on how long-standing norms interact with the legal framework. Fox noted that presidents and vice presidents are exempt from the ethics laws that prohibit conflicts of interest among executive branch employees and said: "Every president in the post-Watergate era has managed his finances as though he were subject to conflicts of interest." He added: "With Trump, those norms are just totally out the window."
Fox also said the scale and nature of the president’s financial interests bolster the case for legislative ethics reform, suggesting that one potential change could be to limit the types of investments that a president and vice president can hold.
What the disclosure shows and what it does not
The 2025 disclosure provides a detailed accounting of income sources and ranges but omits certain granular details. For example, the filing specifies token-sale proceeds and sales of business interests for World Liberty Financial, while for many commercial properties it lists income ranges instead of precise rental income. The loan from Charles Schwab Bank is included in the report without an attached purpose. The filing also records the split of some crypto receipts among family members rather than attributing all proceeds exclusively to a single entity.
For stakeholders watching the interplay between private business activity and public office, the filing presents clear figures on how materially digital assets contributed to the president’s reported income in 2025, while leaving some operational specifics - such as loan use or exact property rents - either in ranges or unspecified.