Report reveals shocking sum Trump has profited off his presidency
Washington DC - A new report has outlined how much Donald Trump has profited from his two terms in office so far, suggesting the president has amassed massive amounts of money he would have never made outside politics.
The New Yorker estimates that Trump and his family will have made more than $3.4 billion by the end of his second term.
Most of the money Trump pulls in comes from the many commercial projects he owns around the world, which include hotels and golf courses, as well as his affinity for selling products and services with his name on them.
Trump's Mar-a-Lago estate in Florida has earned him $125 million since his first term, which jumped after he pushed initiation fees from $100,000 in 2016 to $1 million today.
The Trump family has also made a notable killing with cryptocurrencies. Earlier this year, the president and First Lady Melania Trump each launched meme coins, which have since garnered them $320 million and $65 million, respectively.
Trump's sons have their own ventures that have seen massive success. His eldest, Don Jr., owns a private club in Washington DC that charges a yearly fee of $500,000, and he's brought in $20 million through recent deals.
Trump's son-in-law, Jared Kushner, owns a private equity firm that recently pulled in a $2 billion investment from a fund led by the Saudi Crown Prince.
The family's massive earnings come as Trump has faced heavy criticism over apparently using his role as a politician to enrich himself.
Fred Wertheimer, a government ethics reform advocate, told the outlet that when it comes to "using his public office to amass personal profits, Trump is a unicorn – no one else even comes close."
The White House responds to The New Yorker report
Trump and his administration have dismissed criticisms that the financial exploitation of his power may create conflicts of interest and raise ethical concerns.
In a statement to the Daily Beast, White House spokesperson Karoline Leavitt argued, "The media's continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public's distrust in what they read.
"Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest," Leavitt claimed.
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