The Trump family’s collective wealth saw a significant rise this week, totaling an increase of approximately US$1.3 billion, largely attributed to the public trading launches of American Bitcoin (ABTC) and World Liberty Financial (WLFI). According to Bloomberg, the family’s overall fortune is now estimated at about US$7.7 billion, with contributions from WLFI and ABTC amounting to US$670 million and over US$500 million, respectively. However, a substantial portion of WLFI holdings remains locked away and was not factored into this net worth assessment.
On the heels of these trading debuts, WLFI was particularly impactful, adding approximately US$670 million to the family’s valuation. Notably, Eric Trump holds a significant stake in ABTC, which saw its value surge after the company went public. On its debut, ABTC shares initially peaked at US$14.00 before experiencing a sharp decline, ultimately settling at about US$6.24.
Despite the impressive figures, the family’s holdings in WLFI surpass US$4 billion but remain under lock-up. This exclusion underscores the considerable wealth that could potentially influence the family’s net worth if the assets were accessible.
The involvement of the Trump family in the cryptocurrency arena has sparked broader discussions about the legitimacy of the sector in the U.S. Still, it has also raised concerns over possible conflicts of interest. Reports have surfaced about various individuals facing issues with WLFI, highlighting that tokens belonging to developers and investors were reportedly frozen.
The WLFI launch was met with volatility right from the start, marked by a substantial drop in value shortly after its initial release. On its launch day, WLFI released a total of 24.6 billion tokens, but shortly after, the value plummeted by more than 40%. In an effort to stabilize the market, the company announced a token burn of 47 million WLFI tokens, which represents about 0.19% of its circulating supply.
Since its launch, WLFI has witnessed a 31% decline in value, trading at just above US$0.21 after an initial peak of US$0.331. The trading activity was robust, with over US$1 billion in volume recorded within the first hour of being open to the market, emphasizing the high interest level amongst investors.
Overall, the Trump family’s financial landscape has taken a notable turn amid the bustling world of cryptocurrency, marking a substantial milestone in their wealth trajectory.
