Grand Theft America
Illustration: five streams of money flowing into one briefcase. An editorial illustration, not evidence.

Five Ways Trump Makes Money From the Presidency

By our count, $2.5 billion in cash and cash-like value has gone to the Trump family, its businesses and his library foundation. About $193 billion more in deals, stakes and contract ceilings sits around them. Each of the five ways is a power the office already has.

What’s new
By our count, $2.5 billion in cash and cash-like value has gone to the Trump family, its businesses and his library foundation. About $193 billion more in deals, stakes and contract ceilings sits around them. Each of the five ways is a power the office already has.
Why it matters
No modern president has collected money at this scale while in office. When the president’s family profits from what the government does, every decision the government makes is suspect.
The scale
Teapot Dome, the 1922 bribery scandal, put about $8 million in today’s money in a cabinet secretary’s hands, and he went to prison. One year of Trump’s crypto receipts is $1.4 billion, about 175 times as much.
The five moves
  • Sell Trump products from the White House: $912 million in cash to the family, $2.2 billion in deals around it.
    • He launched the $TRUMP coin on January 17, 2025, three days before the inauguration. His disclosure books $635 million in royalties from it.
    • His 2025 disclosure lists $1.4 billion in crypto-related receipts, including $527 million from World Liberty token sales and $197 million from stablecoin units sold.
    • Reuters estimates the family’s share of World Liberty token sales is higher than the $527 million the disclosure shows.
    • About 66% of the coin’s buying wallets had lost money by the end of June 2026, a combined $3.81 billion, Nansen found.
  • Charge for access to the president: $1.0 billion in cash, $70 billion in deals around it.
    • Qatar gave him a $400 million jet on May 21, 2025. The administration had approached Qatar about buying it first.
    • Paramount settled his suit for $16 million on July 2, 2025. The FCC approved its $8 billion merger 22 days later.
    • The White House’s ballroom donor list records 67 donations over $10,000, $333 million in all, at least $77 million of it anonymous.
    • FCC Chair Brendan Carr dropped an investigation of EchoStar in September 2025. Its chairman, Charles Ergen, had committed $25 million to the ballroom by February 2026.
  • Pardon donors and drop cases against friends: $0 in cash. The value is debts forgiven and cases closed.
    • House Judiciary Democrats estimate clemency relieved recipients of nearly $1.7 billion in restitution, fines and forfeitures.
    • A banker was pardoned in January 2026 after his daughter gave MAGA Inc. $3.5 million.
    • Paul Walczak was pardoned under three weeks after his mother attended a $1 million-per-person MAGA Inc. dinner, the New York Times reported. It spared him about $4.4 million in restitution.
    • Binance founder Changpeng Zhao was pardoned on October 21, 2025. Abu Dhabi’s MGX had used the family’s USD1 stablecoin to close a $2 billion Binance investment that May.
  • Give government contracts to family and donors: $10 million in cash, a Dubai tower licensing fee. $102 billion in contract ceilings and awards around the family.
    • The Army folded 75 Palantir contracts into one with a $10 billion ceiling on July 31, 2025. CEO Alex Karp had given $1 million to MAGA Inc. and $1 million to the inaugural committee.
    • Customs gave a donor-owned firm a $1.585 billion wall order on April 24, 2026, after one offer. The owners had each given $500,000 to a Trump fundraising committee.
    • Public Citizen counts 14 of 27 corporate ballroom donors winning more than $50 billion in federal contracts in the six months after the October 2025 dinner. Lockheed Martin is $43.8 billion of it.
  • Profit from his own market-moving decisions: $527 million in cash, $19 billion in deals around it.
    • Accounts in his name bought 327 stocks on April 8, 2025. The next morning he posted “THIS IS A GREAT TIME TO BUY,” and the tariff pause came that afternoon.
    • Accounts bought $250,000 to $500,000 of Intel on August 18, 2025. He announced a $8.9 billion government stake four days later.
    • An account sold $500,000 to $1 million of Exxon on April 7, 2026, about 2.5 hours before he announced an Iran ceasefire.
    • Accounts bought $1 million to $5 million of Dell in February 2026. Nine days later he said “Go out and buy a Dell computer,” and the Pentagon announced a $9.69 billion Dell contract in May.
Read the full essay · 6 min

Cash to the family, by way

1. Sell the brand$912M
2. Charge for access$1.0B
3. Pardons$0
4. Contracts$10M
5. Market moves$527M
Cash our record counts as going to Trump, his family, their businesses or his library foundation: 26 receipts, $2.5B. The $10M under contracts is a Dubai tower licensing fee.

The pool around the family, by way

1. Sell the brand$2.2B
2. Charge for access$70B
3. Pardons$10M
4. Contracts$102B
5. Market moves$19B
Deals, stakes and contract ceilings around the family: mostly not money paid to anyone. Methodology.

1. Sell the brand from the White House

The first way is to sell his name. The federal conflict-of-interest law, 18 U.S.C. 208, does not cover the president (section 202(c)), so his businesses can license, launch and sell while he governs. Bribery law and the Emoluments Clauses are separate.

On January 17, 2025, three days before the inauguration, the $TRUMP coin launched. Trump Organization affiliates hold about 80% of the supply and take a fee on each trade. His disclosure books $635 million in royalties from the coin. Nansen, via the New York Times, found about 66% of buying wallets had lost money by the end of June 2026, a combined $3.81 billion.

The disclosure lists $1.4 billion in crypto-related receipts for 2025. $263 million of it is the sale of stakes in two family crypto companies, and Reuters estimates the family's share of World Liberty token sales is higher than the $527 million it shows.

Crypto-related receipts in Trump's 2025 disclosure

$TRUMP coin royalties$635M
World Liberty token sales$527M
Stablecoin units sold$197M
World Liberty equity sold$66M

The benchmark is Teapot Dome. In 1921 to 1923 Interior Secretary Albert Fall took about $400,000 in cash, bonds and loans from two oilmen, about $8 million today. He served nine months. Trump's crypto receipts for one year are about 175 times that. Those were bribes proved in court.

Teapot Dome vs. one year of Trump crypto-related receipts

Teapot Dome (today's $)$8M
Trump crypto, 2025$1.4B

2. Charge for access to the president

The second way is to let people with business before the government pay into his family's ventures, his library and his ballroom. The president decides whom he meets and which agencies move. Our record shows the payments and the dates. It does not show an exchange, and the Washington Post found no established link for the ballroom list.

$400MQatari jet, May 21, 2025
$16MParamount settlement
$333Mcommitted to the ballroom, per the Post

On May 21, 2025, Defense Secretary Pete Hegseth accepted a Boeing 747-8 from Qatar's royal family, valued at about $400 million. The administration approached Qatar about buying it first.

Jul 2, 2025Paramount agrees to pay $16M to settle his 60 Minutes suit
Jul 24FCC approves its $8B merger, 2 to 1, 22 days later

Paramount said the money goes to his future library and the deal had no apology. Commissioner Anna Gomez dissented, citing "cowardly capitulation."

The Post obtained the White House's internal ballroom donor spreadsheet and reported on it on October 15, 2026. It records 67 donations over $10,000, $333 million in all, at least $77 million from donors who asked for anonymity. Charles Ergen committed $12.5 million in December 2025 and $12.5 million in February 2026. FCC Chair Brendan Carr had opened an investigation of Ergen's company EchoStar in May 2025 and dropped it in September, while EchoStar was selling licenses to AT&T pending FCC approval, which came in May 2026. Ergen and EchoStar declined to comment. The White House did not release the list; it became public because someone leaked it.

3. Pardon donors and drop cases against friends

The third way costs the president nothing. The Constitution lets him pardon federal offenses with no review, and his Justice Department decides which cases to pursue. This way has no cash figure; the value is debts forgiven and cases closed. House Judiciary Democrats estimate clemency relieved recipients of nearly $1.7 billion in restitution, fines and forfeitures. That is a partisan estimate, and their earlier $1.3 billion figure counted restitution imposed, some of it already paid.

Dec 2024 / Jul 2025Isabela Herrera gives MAGA Inc. $2.5M, then $1M
Aug 2025Charges against her father reduced to a misdemeanor in a plea
Jan 2026Trump pardons Julio Herrera Velutini

Julio Herrera Velutini was indicted in 2022 on bribery charges over a Puerto Rico governor's campaign. His daughter committed $2.5 million to the ballroom on September 23, 2025. The Campaign Legal Center asked the FEC to investigate whether she gave in her father's name; its complaint says her only earlier political donation was $20. That is an allegation, not a finding. The White House told the Post the prosecutions were politically motivated. Herrera Velutini and his daughter did not respond to the Post.

In April 2025, Elizabeth Fago attended a $1 million-per-person MAGA Inc. dinner. Under three weeks later, her son Paul Walczak was pardoned, the New York Times reported, spared about $4.4 million in restitution.

On October 21, 2025, Trump pardoned Changpeng Zhao, Binance's founder, who pleaded guilty in 2023 to running Binance without an anti-money-laundering program and served four months. On May 1, 2025, Abu Dhabi's MGX had chosen the family's USD1 stablecoin to close a $2 billion investment in Binance. The White House said Zhao was prosecuted in the Biden administration's "war on cryptocurrency."

4. Give government contracts to family and donors

The fourth way runs through the agencies. The president appoints the people who run them, and federal rules let agencies limit competition for urgency. This is the biggest pool on the ledger, and most of it goes to companies, not to his accounts.

Awards in this way (ceilings and totals, not payments)

Palantir, 75 contracts folded into one$10B
Ballroom donors, per Public Citizen$50B+
Companies backed by his sons' firms$3.2B
Border wall, one offer received$1.6B

On July 31, 2025, the Army folded 75 Palantir contracts into one agreement with a $10 billion ceiling. CEO Alex Karp gave $1 million to MAGA Inc. and $1 million to the inaugural committee. The Army says the agreement consolidates contracts Palantir already held and removes reseller fees. No source connects the gifts to the award.

On April 24, 2026, Customs and Border Protection gave Barnard Construction a $1.585 billion border-wall order. USAspending shows one offer received and lists "urgency" as the reason competition was limited. The owners had each given $500,000 to a Trump fundraising committee in June 2024. No source says the White House picked Barnard. CBP said the award reflected "various factors particular to that project."

Public Citizen counts 14 of 27 corporate ballroom donors winning more than $50 billion in federal contracts in the six months after the October 2025 dinner. Lockheed Martin accounts for $43.8 billion of it. The link is Public Citizen's inference, and the White House denies one.

5. Profit from his own market-moving decisions

The fifth way is information. The president knows what the government will do before anyone else, and accounts in his name can trade around it. There is no blind trust. The White House says independent managers make every trade, and we have only its word for who placed the orders.

Apr 8, 2025327 stock purchases in accounts in his name, up to $12.8M
Apr 9, 9:37 a.m."THIS IS A GREAT TIME TO BUY!!! DJT"
1:18 p.m.90-day pause on most new tariffs
CloseS&P 500 up about 9.5%

The purchases did not appear on the periodic reports federal rules require within 45 days; they surfaced in the June 30, 2026 annual disclosure. Six Democratic senators asked the SEC to look on April 11, 2025. The SEC has not publicly responded.

Aug 11 to 14, 2025Trump meets Intel's CEO. Bloomberg reports stake talks. Shares rise about 7%
Aug 22He announces a 9.9% government stake, $8.9B
Apr 7, 2026Account sells $500K to $1M of Exxon
~2.5 hours after closeHe announces an Iran ceasefire
Apr 8Exxon opens down 6.3%

The Exxon sale avoided a loss of about $32,000 to $63,000. CBS found about 3,600 trades in his accounts in the first quarter. CNBC reported no evidence his accounts traded on advance knowledge of policy.

Feb 10, 2026Accounts buy $1M to $5M of Dell
9 days later"Go out and buy a Dell computer"
May 27Department of War announces a $9.69B Dell contract

The New York Times counted nine days between the purchase and the Georgia speech. The Pentagon says the award was competed and that political connections "play absolutely no role" in its funding decisions.

Sources 10 · tap to open

Primary and official

  1. 18 U.S.C. 202, Definitions (Cornell LII). https://www.law.cornell.edu/uscode/text/18/202
  2. 18 U.S.C. 208, Acts affecting a personal financial interest (Cornell LII). https://www.law.cornell.edu/uscode/text/18/208

Reporting

  1. Washington Post (via The Spokesman-Review), "Secret documents reveal donors behind $330 million for Trump's ballroom," Oct 15, 2026. https://www.spokesman.com/stories/2026/oct/15/secret-documents-reveal-donors-behind-330-million-/
  2. Axios, "FCC approves Skydance-Paramount merger," July 24, 2025. https://www.axios.com/2025/07/24/skydance-paramount-merger-trump-fcc-approved
  3. Sludge, "Trump Bought Hundreds of Stocks the Day Before He Paused Tariffs and Sparked a Historic Rally," July 1, 2026. https://readsludge.com/2026/07/01/trump-bought-hundreds-of-stocks-the-day-before-he-paused-tariffs-and-sparked-a-historic-rally/
  4. The Irish Times (Financial Times), "Intel shares jump on possible US government investment," Aug 15, 2025. https://www.irishtimes.com/business/2025/08/15/intel-shares-jump-on-possible-us-government-investment/
  5. MEED, "US and Iran agree to two-week ceasefire," Apr 8, 2026. https://www.meed.com/us-and-iran-agree-to-two-week-ceasefire

Analysis and reference

  1. History.com, "Teapot Dome Scandal." https://www.history.com/topics/1920s/teapot-dome-scandal
  2. in2013dollars.com, "$400,000 in 1922" (BLS CPI). https://www.in2013dollars.com/us/inflation/1922?amount=400000
  3. Every receipt link above opens a page that lists its own primary sources: Trump's 2025 financial disclosure (OGE Form 278e), USAspending and FEC records, Army and Pentagon releases, and the New York Times, Reuters, CBS, CNBC, Wall Street Journal and Washington Post reporting behind the individual claims.