The U.S. Office of Government Ethics has released the latest annual financial disclosure reports for President Donald Trump and Vice President JD Vance, offering a detailed look at their personal finances and business interests. While Trump’s filing spans more than 900 pages, one theme stands out above the rest: cryptocurrency has become one of the largest contributors to his reported income.
According to the disclosure, Trump reported approximately $1.4 billion in crypto-related earnings and proceeds during 2025, generated through token sales, licensing agreements, equity transactions, staking rewards, and digital asset holdings.
The filing also shows that Trump’s traditional businesses—including real estate, golf resorts, licensing agreements, and Trump Media—continue to generate substantial revenue. Meanwhile, Vice President JD Vance’s much shorter filing reveals that his bestselling memoir, Hillbilly Elegy, remains a significant source of income nearly a decade after its publication. The reports provide one of the clearest pictures yet of the financial portfolios held by two of the country’s highest-ranking elected officials.
Cryptocurrency emerges as Trump’s largest new revenue source
The most notable revelation in Trump’s financial disclosure is the scale of his cryptocurrency-related earnings.
According to the filing released by the Office of Government Ethics (Source: U.S. Office of Government Ethics, Trump reported roughly $1.426 billion tied to digital asset ventures during 2025.
A major portion came from a licensing agreement involving Celebration Coins, which generated approximately $635 million in royalties connected to Trump’s memecoin business. The filing also lists significant cryptocurrency holdings, including a Bitcoin cold wallet valued at more than $50 million and a USDC wallet worth between $5 million and $25 million.
Trump also disclosed substantial proceeds connected to World Liberty Financial, where entities affiliated with him hold a 38.25% ownership stake. These included more than $236 million from token sales, approximately $65 million from an equity sale, and additional proceeds linked to cryptocurrency wallets holding Ethereum, Bitcoin, USDC, and other digital assets.
A separate ownership interest in Stablecoin Holdco LLC generated nearly $197 million through capital contributions and unit sales.
Combined, these ventures represent one of the largest reported crypto income disclosures by a sitting U.S. president.
Traditional businesses continue generating hundreds of millions
Despite the rapid growth of Trump’s cryptocurrency ventures, his longstanding real estate and hospitality businesses remain valuable assets.
The disclosure lists multiple properties—including Mar-a-Lago, 40 Wall Street, Trump Chicago, 1290 Avenue of the Americas, and other commercial real estate holdings—as assets valued at more than $50 million.
Several Trump-owned resorts and golf clubs also continued to produce substantial revenue during 2025. According to the filing, Mar-a-Lago generated approximately $77.5 million, while Trump Chicago reported more than $38 million in hotel revenue. Trump National Golf Club Bedminster, Jupiter Golf Club, and Trump National Golf Club Washington, D.C. also contributed tens of millions of dollars.
The filing additionally confirms that Trump remains the sole beneficiary of the Donald J. Trump Revocable Trust, which holds more than 114 million shares of Trump Media & Technology Group stock following a transfer completed in late 2024.
Licensing agreements remain another key income stream
Beyond cryptocurrency and real estate, Trump’s disclosure highlights continued earnings from branded products and publishing agreements.
Among the largest royalty payments was approximately $4.7 million from Trump Watches, which the filing notes had been inadvertently omitted from a previous disclosure. Additional licensing income came from products including Trump Sneakers & Fragrances, the Greenwood Bible, the 45 Guitar, and several books.
His publications Save America, Letters to Trump, and A MAGA Journey all generated additional royalties during the reporting period. Meanwhile, The Art of the Deal, originally published in 1987, continues to produce royalty income decades after its release.
Melania Trump reports more than $17 million in earnings
The financial disclosure also outlines income earned by First Lady Melania Trump through her company, MKT World LLC.
According to the filing, she reported approximately $10.7 million in proceeds related to the documentary Melania, along with roughly $6 million from NFT and collectible sales. A publishing agreement with Skyhorse Publishing for her memoir also generated more than $500,000, bringing her disclosed earnings from those ventures to over $17 million.
JD Vance continues to benefit from bestselling memoir
Vice President JD Vance’s financial disclosure is significantly shorter but still reveals substantial earnings.
According to the filing, Vance and his wife reported assets valued between $7 million and $27 million, while their combined 2025 income ranged between $1.4 million and $7.4 million.
The largest contributor remains Hillbilly Elegy, Vance’s bestselling 2016 memoir published by HarperCollins. The disclosure places royalty income from the book between $1 million and $5 million, underscoring its continued commercial success years after publication.
Vance also reported investment holdings in major exchange-traded funds, including QQQ, SPY, and DIA, along with a Bitcoin investment valued between $250,000 and $500,000. The filing also lists interest income from a Narya Capital Management promissory note.
The latest financial disclosures highlight the diverse sources of income reported by both the President and Vice President, ranging from cryptocurrency ventures and real estate to publishing royalties and investment portfolios. While Trump’s crypto-related earnings dominate this year’s filings, the disclosures also demonstrate the continued financial value of established brands, media ventures, and bestselling books.
