Donald Trump’s latest financial disclosure, which is required for candidates for elected office, lists assets, liabilities and a portfolio of more than $1 million in cryptocurrency, an industry the Republican is openly courting to raise funds for his presidential campaign. Burdened by more than $100 million in liabilities resulting from bail bonds in three civil cases he lost in New York, the disclosure also includes earnings from licensing fees at Trump-branded properties in Dubai and Oman, as well as income from various types of merchandising launched since he left the White House in 2021, including a Bible endorsed by the candidate. In addition to the $1 million in cryptocurrency, ethereumHe also earns income from NFT collectibles, which are also offered by his wife, Melania —included in the declaration—, in addition to investments of up to six figures in gold bullion.
The 250-page declaration, compared to 16 for his rival, Democrat Kamala Harris, was presented on Thursday and describes assets, investments, sources of income and liabilities in broad ranges, although some figures are provided in greater detail. The publication of the Federal Election Commission marks the first public update of his finances in a year financially drained by his numerous legal fronts – in addition to the payment of bail, also by the cost of his defense – and focused on the elections. The document also notes Trump’s business interests around the world, including dozens of registered trademarks in China, as well as in Saudi Arabia, Iran, Ukraine and Israel, among other countries. The document reports the dissolution of dozens of business entities in 2023, including three companies related to real estate projects in China that were not carried out, although he still owns dozens of trademarks in that country, one of the bêtes noires of his speeches due to trade competition with the United States.
The three new liabilities listed on the form are related to his legal troubles, including a more than $50 million bail payment in a civil fraud case involving his business for which he was ordered to pay $454 million. The two judgments against him in two other cases involving sexual abuse and defamation of columnist E. Jean Carroll are listed as “litigation; stayed pending appeal; on surety.” The judgment against him for defamation was $83.3 million. The former president has posted the bail bonds so he can appeal the ruling.
Trump has consistently defied the tradition among major-party candidates to make their tax returns public, and financial disclosure reports offer an incomplete picture because filers are only required to reveal income and assets in broad ranges (six, in Trump’s case).
One of the biggest sources of income was profits from his Mar-a-Lago club in Palm Beach, Florida, about $57 million, but down from $65 million in the previous filing. Meanwhile, the largest segment of his net worth, at least on paper, is his stake in Trump Media & Technology Group, the parent company of the social media site Truth Social, according to research by ForbesIn the declaration filed on Thursday, Trump said he owns almost 115 million shares of the company’s common stock, which would be worth about $2.7 billion at the price of $23.57 at the close of trading on Thursday. However, he is subject to a lock-up period that prevents him from selling them in the six months following the company’s IPO (March 2024).
The book Letters to Trumpa collection of personal messages and notes sent to him by world celebrities over several decades, raised $4.5 million, according to the statement. Trump made money from two other recently published books, already on the campaign trail for the November election. The one titled A MAGA trip (acronym of its motto Make America Great Again) earned him $505,763, above the $300,000 raised by The Greenwood Biblea version of the Bible that Trump and country singer Lee Greenwood have endorsed. The Bible is for sale online for $60, though a copy signed by Trump costs $1,000. “Yes, this is the only Bible endorsed by President Trump!” the website announces.
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The marketing of the Trump brand in the 2024 election campaign is a well-oiled machine, as demonstrated by the party’s national convention held in mid-July in Milwaukee: from his famous gold sneakers – the results of which do not appear in the statement, since he began selling them in February – to T-shirts with Trump’s effigy in different poses and representations – almost all of them belligerent – the marketing around his figure does not stop.
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