His empire has been bolstered by ties to the monarchies of the Persian Gulf, where his fortune has grown exponentially thanks to sheikhs and the cryptocurrency industry. The Trump children have seen the burgeoning world of cryptocurrencies, asset tokenization (digital proof of ownership of an asset), and data centers as a fast, secure, and convenient way to expand the family business, and they have found generous allies in Gulf businessmen and officials. Just after returning to the White House, Donald Jr. and Eric invested in American Bitcoin, a bitcoin mining company, along with other investors. The New York Times estimates that his net worth has increased by $1.4 billion in the last year, and The New Yorker puts that figure at $4 billion, mostly from digital and cryptocurrency businesses.
The Trumps are allied in the cryptocurrency business with the sons of Steve Witkoff, a longtime friend of Trump’s with whom he shares business interests. Binance founder Changpeng Zhao was pardoned by Trump in October. He had been in jail after pleading guilty to facilitating money laundering that allowed terrorists, drug traffickers, and other criminals to transfer money through the platform.
World Liberty Financial, a financial platform that has USD1, a cryptocurrency pegged to the dollar. MGX, the company linked to high-ranking officials in Abu Dhabi, used the Trumps’ cryptocurrency to make a $2 billion investment in Binance, the cryptocurrency trading platform. Trump has turned his name into a franchise for luxury hotels, golf resorts, and digital assets.
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