Nicolai Haugsted
Trump brushes off questions about his wealth before an expert reveals a staggering financial trail.
Donald Trump has never been particularly shy about discussing his financial success. His wealth has been a defining feature of his public image for decades, helping him build a political brand around the idea that his business experience makes him uniquely qualified to lead the United States.
But the president’s growing fortune has also raised uncomfortable questions about the relationship between his private business interests and his responsibilities in the White House.
Since his political comeback in 2024, Trump’s estimated net worth has increased by approximately $3 billion, according to figures discussed during a recent television interview.
And when CBS correspondent Ross Douthat asked the president about that extraordinary financial growth during Sunday’s edition of 60 Minutes, Trump offered an explanation that quickly attracted the attention of a journalist who has spent years investigating his finances.
According to Trump, he barely pays attention to his wealth.
Forbes senior editor Dan Alexander, however, had quite a different story to tell.
Trump insists he doesn’t care about his growing fortune
During the interview, Douthat questioned Trump about the substantial increase in his estimated net worth since his return to political power.
Rather than explain the individual business deals behind the increase, the president downplayed his personal involvement.
“I devote almost no time to my net worth, I don’t care, I have a lot of money, far more than I’ve ever thought I’d have,” Trump said.
“I guess it’s gone up, I don’t even know.”
Trump suggested that his sons, particularly Eric Trump, deserved much of the credit for the family’s business activities.
Eric and his older brother, Donald Trump Jr., have taken prominent roles in managing the Trump Organization, including its international investments and cryptocurrency ventures.
The president’s explanation was consistent with his broader argument that his business interests are managed separately from his presidential responsibilities.
But Alexander, who has extensively investigated Trump’s finances and authored White House, Inc: How Donald Trump Turned the Presidency Into a Business, was not convinced that the president’s casual description adequately explained the scale of his financial gains.
He responded with a detailed 29-post thread on X, examining the transactions that have contributed to Trump’s growing fortune.
A social media company helped make Trump billions
Alexander traced a significant portion of Trump’s wealth increase to the public listing of Trump Media & Technology Group, the company behind Truth Social.
The business entered the public markets in March 2024, creating an opportunity for investors to purchase shares in the social media venture closely associated with Trump’s political identity.
According to Alexander, enthusiasm among Trump’s supporters helped drive the company’s valuation.
“The president brought the Trump Media and Technology Group, the company that operates Truth Social, to the public markets. Trump fans went nuts,” he wrote.
Alexander estimated that the transaction increased Trump’s net worth by approximately $1.88 billion between March and the autumn of 2024.
The journalist argued that the extraordinary financial benefit illustrated how Trump’s political popularity had become a valuable commercial asset.
He described the development as something that “made him the first US politician to make $1B on politics.”
The valuation of Trump Media shares has fluctuated, meaning the value of Trump’s holdings has not necessarily translated into an equivalent amount of cash.
Nevertheless, Alexander’s analysis highlighted the enormous financial significance of a company whose appeal has been closely tied to Trump’s political following.
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Cryptocurrency brought another lucrative opportunity
Trump’s social media company was not the only venture attracting substantial investment.
Before the 2024 presidential election, members of the Trump family helped establish World Liberty Financial, a cryptocurrency business that subsequently attracted wealthy international investors.
Among those connected to the venture were investors from Abu Dhabi, including Sheikh Tahnoon bin Zayed Al Nahyan.
CNN previously reported that an investment company linked to the United Arab Emirates acquired a $500 million stake in the cryptocurrency business.
The involvement of foreign investors has prompted questions about potential conflicts of interest, particularly given Trump’s position as president and the United States’ diplomatic relationships in the Middle East.
The White House has rejected suggestions that the president’s business interests influence his official decisions.
Responding to CNN’s reporting at the time, White House spokesperson Anna Kelly defended the arrangement.
“President Trump only acts in the best interests of the American public – which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media. President Trump’s assets are in a trust managed by his children. There are no conflicts of interest,” Kelly said.
Alexander, meanwhile, argued that the cryptocurrency operation and Trump Media had generated substantial financial benefits.
He described the ventures as producing “staggering amounts of cash by the end of 2025.”
According to his calculations, the two businesses generated “$1,425,000,000 of liquidity from those two ventures in one year.”
The figure represents Alexander’s assessment of liquidity generated by the ventures, rather than a verified total of money personally deposited into Trump’s bank accounts.
The Trump name continues to generate money overseas
Beyond cryptocurrency and social media, Trump’s international property licensing business has also remained financially significant.
For years, developers have paid to associate the Trump name with luxury real estate projects, allowing the family to earn revenue without necessarily owning the buildings themselves.
Alexander estimated that Trump or his family received more than $107 million in annual licensing income during 2024 and 2025, with a substantial portion connected to overseas developments.
Several of those projects were located in the Middle East.
The arrangements have attracted attention because foreign commercial partners may have interests that overlap with American foreign policy.
Such business relationships do not, by themselves, establish wrongdoing or prove that presidential decisions have been influenced by private financial considerations.
However, they have fueled debate about whether the separation between Trump’s public office and family businesses is sufficient to prevent potential conflicts.
Alexander’s breakdown suggested that the president’s financial growth was not the result of a single successful investment, but rather several major ventures operating alongside his political career.
