'A boon for the president': Trump rakes in $600 million from MAGA merch in 2nd term

16 June

A supporter of President Donald Trump in El Paso, Texas on September 28, 2024 (Image: Shutterstock)

New financial disclosure forms show President Donald Trump's family businesses have made hundreds of millions of dollars since his second term began five months ago.

Axios reported Monday that the financial disclosures show Trump has made approximately $600 million, with the revenue coming from a combination of his cryptocurrency business along with various merchandise tied to himself and his political agenda. The outlet noted that the sale of MAGA-branded merch in particular has been "a boon for the president."

"Trump disclosed a massive $57 million token sale through WLF Holdco LLC, which owns World Liberty Financial Inc., a Trump family crypto company for which Trump serves as 'Chief Crypto Advocate,'" wrote Axios' Jason Lalljee.

The president has made roughly $1.3 million in royalties from Lee Greenwood's "God bless the USA" Bibles, which Trump sold for approximately $60 apiece during the 2024 campaign with the tagline "make America pray again." Other royalties have come from the sale of his branded sneakers, cologne and watches.

Even though Democrats have criticized Trump for profiting off of his office, White House press secretary Karoline Leavitt insisted that Trump's moneymaking ventures were legal.

"President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations," Leavitt told Reuters. "The Trump Administration is committed to transparency and accessibility for the American people."

The new financial disclosures come as the U.S. Senate is debating the "GENIUS Act," which is a "stablecoin" regulation bill (a "stablecoin" is cryptocurrency whose value is tied to a legitimate asset, like the U.S. dollar or gold). However, Trump's heavy dabbling in the crypto industry has jeopardized the bill, which needs 60 votes to pass the upper chamber of Congress.

Click here to read Axios' full report.

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