US President Donald Trump, known for his support of Bitcoin and cryptocurrencies, is also attracting attention with his memecoin and altcoin project bearing his own name.
At this point, Donald Trump’s income has reached enormous proportions, with his total earnings over the past two years, including cryptocurrency, being compared to those of previous US presidents.
Steve Rattner, a well-known figure on Wall Street, compared how Trump and the previous two presidents increased their personal wealth and presented his research.
At this point, it was first noted that Trump obtained gains that were very different from those of previous US presidents, both in terms of magnitude and source.
According to a chart shared by Steve Rattner, Donald Trump’s net worth has increased by 183% in the two years since the start of his second presidential term.
Rattner argued that, according to the data, a significant portion of the increase in Trump’s net worth stemmed from new business ventures during his presidency, assets linked to Trump Media Group, and licensing agreements. These include World Liberty Financial and its stablecoin USD1, the Official Trump (TRUMP) memecoin, and a number of licensing agreements. Rattner claimed that these items accounted for approximately 74% of the total wealth increase.
On the other hand, Trump’s net worth in the first two years of his presidency far surpassed the income growth of previous US presidents during the same period.
According to a graph shared by Steve Rattner, the net worth increases for the previous three presidents in their first two years were 35% for Bush, 47% for Obama, and 5% for Biden. Even the sum of these percentages is less than half of Trump’s wealth increase.
“…Obama’s fortune came from royalties on books he wrote before taking office, while Bush’s fortune largely came from a stake in a sports team he acquired more than a decade prior. Much of Trump’s new billions come from deals he made while in office.”
Rattner noted that crypto projects were a major source of income for Trump, stating that the approximately $4 billion increase in Trump’s wealth during his presidency was unprecedented in both size and source.
In contrast, according to Rattner, none of the other three presidents generated revenue from new initiatives they launched after taking office.
*This is not investment advice.
Continue Reading: Donald Trump Far Surpasses Previous US Presidents: He Increased His Billion-Dollar Fortune with Cryptocurrencies!