Trump's 2025 annual financial disclosure report, released Tuesday by the U.S. Office of Government Ethics, runs 927 pages and reveals crypto-related income in the hundreds of millions of dollars, along with holdings in hundreds of individual company stocks.
The report, which CNBC reviewed, shows that Trump received about $515 million from the sale of tokens released by World Liberty Financial, a crypto company co-founded by members of his family that issues the WLFI governance token and the USD1 stablecoin. He also received $65 million from sales of equity in WLF's holding company.
Trump also disclosed $635 million in royalties described in the filing as coming from "Celebration Coins." It was not immediately clear what those coins are. Bloomberg reported that the royalties were related to CIC Digital LLC, Trump's memecoin business.
His golf and club properties also generated significant revenue. Trump reported more than $290 million in income connected to Mar-a-Lago Club in Palm Beach, Florida, Trump National Doral golf property, his club in Bedminster, New Jersey, his Jupiter Golf Club, and Trump National Washington, D.C.
The filing also reveals a cluster of stock activity. On August 18, 2025, Trump made three successive stock purchases in Apple, Microsoft, and Nvidia, each valued at between $5 million and $25 million. The values in government ethics filings are reported in dollar ranges rather than exact figures.
The Nvidia purchase came exactly one week after Trump announced that Nvidia and AMD had agreed to give the U.S. government 15% of their H20 chip sales to China in exchange for export approval. That deal reopened a key China revenue stream for Nvidia. Apple had announced an additional $100 billion in U.S. investment on August 6, bringing its total planned U.S. commitment to $600 billion.
Trump also purchased Amazon stock worth between $500,000 and $1 million on September 23. That was the same day a trial began in Seattle federal court for a lawsuit by the Federal Trade Commission, which alleged Amazon duped customers into paying for Prime memberships. The trial ended two days later after Amazon agreed to pay a $1 billion civil penalty to the FTC and refunds totaling $1.5 billion to an estimated 35 million customers.
In addition to crypto and stock income, Trump reported receiving more than $86 million in settlements of legal disputes from media companies including ABC, CBS, Meta, YouTube, and X.
MarketWatch noted that this year's filing is nearly four times as lengthy as last year's disclosure.
