United States President Donald Trump has amassed a vast business empire spanning real estate, technology, media, and cryptocurrency, with Forbes putting his real-time net worth at US$4.9 billion as of the 16th of March 2025.
During his first term in 2017, Trump declined to divest his global businesses, leading to over 3,400 conflicts of interest by 2020, according to the Centre for Responsibility and Ethics in Washington.
As he enters his second term, policy experts and watchdog organisations warn that his conflicts of interest could become even more extensive and problematic.
Trump’s Business Portfolio
Trump maintains a vast portfolio, including publicly traded companies and private holdings. Despite efforts to separate his business from his presidency - such as placing assets in a trust managed by his children - concerns persist regarding whether such measures effectively prevent financial influence on policy decisions.
Many of the overseas contracts negotiated by the Trump family since Trump left office are branding deals, in which they license the Trump name to international developers who build residential and resort complexes, aiming to sell luxury units at a premium.
Real Estate Investments
Real estate remains Trump's cornerstone. His properties, such as Mar-a-Lago, generate significant revenue and maintain political influence.
Although Trump sold his Washington hotel lease in 2022, reports indicate that his family may seek to re-acquire it.
His organisation has also partnered with a Saudi-backed firm on a golf resort in Oman in 2022, and more recently, UAE-based DAMAC Properties, which is investing US$20 billion in U.S. data centres.
Jared Kushner, Trump’s son-in-law, has also drawn scrutiny for founding a private equity firm that received a US$2 billion investment from a Saudi fund linked to Prince Mohammed bin Salman, followed by $1.5 billion from Qatar and UAE investors.
Cryptocurrency and Fintech
Trump has also entered the cryptocurrency market, launching $TRUMP and $MELANIA digital tokens before taking office.
These tokens have drawn billions in speculative investments and are tied to Trump-affiliated companies.
According to his 2024 financial disclosure, Trump owns up to US$5 million worth of Ethereum, the second most popular cryptocurrency after Bitcoin.
His interests also extend to a crypto platform, World Liberty Financial, where affiliates hold a majority stake.
Following Bitcoin’s surge to $100,000 last year, Trump posted on Truth Social: “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”
Media and Social Platforms
Trump’s media investments include Truth Social, a publicly traded platform and product of Trump Media & Technology Group, where he holds over half the shares.
Market fluctuations at Truth Social directly impact his finances. His past legal battles with CBS News, Meta, and Amazon highlight the complex relationship between his business and the media.
Meanwhile, Trump's FBI director nominee, Kash Patel, received nearly $800,000 in Trump Media & Technology Group stock days before his Senate confirmation hearing.
Patel did not disclose the stock in his financial report, which is required for federal appointees to prevent conflicts of interest.
Consumer Products and Licensing
Beyond real estate and media, Trump’s portfolio includes consumer products and licensing deals, such as a reported $300,000 fee for promoting a Bible and various apparel and digital token projects.
While these may seem minor compared to his larger holdings, they contribute to a complex financial web that complicates efforts to separate his business interests from his presidency.
Structuring Investments and Ethics Safeguards
To mitigate conflicts of interest, Trump’s businesses are managed by his children and external ethics advisors.
However, watchdog groups like Citizens for Ethics and Campaign Legal argue that these measures do not extend far enough.
The Trump Organisation has committed to avoiding new material contracts with foreign governments, with profits from existing deals slated for donation to the U.S. Treasury.
Nonetheless, longstanding international business relationships remain a concern.
Conclusion
Trump’s expansive business empire underscores the difficulty of managing private wealth while serving in public office. Despite these safeguards, the potential for financial gain from policy decisions remains a concern.
His administration’s efforts to manage conflicts of interest - through family-controlled trusts and external oversight - continue to face scrutiny.
As Trump’s second term unfolds, regulators, watchdog groups, and global financial communities will closely monitor the intersection of his personal investments and public duties.