From Truman’s Pension to Trump’s Billions: Unprecedented Earnings by a US President
Image Source, Getty Images
After leaving the White House, Harry Truman received only a monthly pension of $113 after military retirement. The 33rd American president once wrote, “It is wrong to commercialize the dignity of the presidency.”
George W. Bush placed his personal investments in a ‘blind trust’ before assuming the presidency. He stated that he was unaware of how the 2008 financial crisis affected his assets.
However, US President Donald Trump reportedly earned approximately $140 million (around 20 billion Nepali rupees) from cryptocurrency trading last year, as noted in his financial disclosures.
“There is no precedent for this,” said Barbara Perry, presidential historian at the University of Virginia’s Miller Center. “This has never been seen before.”
The 927-page disclosure reveals that Trump received $63.5 million in royalties from Celebration Coins. The organization includes $TRUMP meme coins, which Trump started before his presidency, though their value has since declined.
Additionally, he earned $50 million from World Liberty International, a crypto company operated by his sons and special envoy Steve Whitcraft’s children.
Claims of No Profit from the Presidency
The White House claims Trump did not profit from the presidential office.
Trump said, “Everyone is profiting from the stock market’s growth” and that he is not involved in his private business.
According to the financial disclosure, total income from crypto trading exceeds $143 million, approximately 21.7 billion Nepali rupees.
Last year, Trump’s total income surpassed $220 million (33.4 billion Nepali rupees), whereas the previous year it was only $60 million (9.1 billion Nepali rupees).
The White House stated that Trump’s business operations are managed through trusts dedicated to his sons and asserted there is no conflict of interest.
Deputy White House Press Secretary Anna Kelly praised the president for proudly making America the “crypto capital of the world.”
“Neither the president nor his family has, or will have, a conflict of interest,” she said.
She added: “President Trump and his administration have dedicated all actions to the American people’s benefit. The so-called ‘reporters’ presenting this information are recycling old, incorrect assumptions propagated by Democrats and legacy media for years.”
The president has indicated that federal laws concerning conflicts of interest do not apply to him.
On Wednesday, Trump told reporters: “You know why I’m profiting — because the stock market is up and everyone is earning profits.”
He stated that he earned extensively before becoming president and invested that money through trusts, over which he exerts no oversight.
Once a Critic of Cryptocurrency
Image Source, Getty Images
Previously, Trump criticized cryptocurrencies. In 2021, he called Bitcoin a “scam” and predicted it would lead to destruction.
But three years later, during his campaign, he pledged to make America the “crypto capital of the world.”
After being re-elected president, he issued executive orders to support responsible growth in the crypto industry.
Richard Painter, White House ethics lawyer under President George W. Bush, called Trump’s $100 million-plus income from crypto “extraordinary.”
“Certainly, this constitutes a conflict of interest,” Painter added.
Recent financial disclosures show Trump earned more from crypto than from traditional real estate businesses.
He made $7.7 million from Mar-a-Lago Club, $12.2 million from the Florida Doral Golf Club, and $470,000 from Trump-branded watches.
Will Walker-Arnett, director of Remand James Wealth Management, said, “His footprint is completely different from past presidents.”
“Jimmy Carter put his peanut farm in a blind trust, and George W. Bush sold his Texas Rangers stake. But the Trump family is earning remarkably from their crypto company.”
Our news is also available on Nepali YouTube. Subscribe and watch videos here . Follow us on Facebook, Instagram and Twitter. Our Nepali service program airs from Monday to Friday at 8:45 PM on radio.