Donald Trump has insisted he is not profiteering as US President after it emerged that his income quadrupled to at least $2.2 billion during his first year in office. The figures, released in a 927-page annual filing for 2025, were nearly four times higher than the $622 million he earned in 2024, when he was not president.
Sources of income
The Republican president made $1.4 billion in cryptocurrency, including through his own currency $TRUMP, which he has widely promoted while in office. He raked in a further $635 million in royalties from Celebration Coins, the entity thought to be behind $TRUMP. He also earned more than $500 million from World Liberty Financial, a cryptocurrency business that his sons, Donald Trump Jr and Eric Trump, helped create.
Ethical concerns raised
The news led to accusations of unethical behaviour and conflicts of interest. Richard Painter, the former chief White House ethics lawyer under George W. Bush, told the BBC: 'Of course it’s a conflict of interest.' Presidential historian Barbara Perry, from the University of Virginia’s Miller Center, said there was 'no precedent' for Trump’s actions. 'This is the big distinction between Trump and his family and other presidents,' she explained. 'Making money hand over fist in office, it’s not illegal but it is unethical. Most (past) presidents didn’t want to do that.'
White House response
Despite the news, Trump has steadfastly denied that he has done anything wrong. Speaking to reporters yesterday, he said: 'I don’t get involved in my personal (finances), we have funds that run my money. I’ve made a lot of money before I became president, and they invest my money, and I don’t talk to them.' White House deputy press secretary Anna Kelly was equally forthright in rubbishing the claims. 'Neither the President nor his family has ever engaged – or will ever engage – in conflicts of interest,' she said. '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.'
Business arrangements
As with his previous term in office, the president handed control of the Trump Organization to his sons before his election. The company said he would not be involved in its day-to-day dealings during his presidency. Eric Trump also insisted the firm would follow 'robust ethical standards' throughout his father’s second term. Traditionally, presidents put any business interests in a blind trust before they take office and would have no involvement with them until they left office.
