Transcript
A (0:05)
Good morning. It's Wednesday, August 20th. I'm Shemitah Basu. This is Apple News Today. On today's show, how one major city significantly moved the needle on its homelessness crisis. Why some California homeowners are against a fire code that could prevent wildfire damage. And the US Open revamps its mixed doubles competition. But first, for as long as President Trump has been in the public eye, he has built his reputation around his money and businesses. He entered the oval office in 2017 a billionaire, one of the richest people to ever win the presidency. And his wealth has skyrocketed since. But one question that's been difficult to answer is just how much money he and his family have made over the years as a result of his presidencies. So New Yorker staff writer David Kirkpatrick spent months digging through deals to try and calculate it.
B (1:05)
And to do that, I went through all of the different sources of revenue. New deals, new businesses, new income streams that I could find. And I asked with each one, is this coming from the presidency? Is this leveraging the presidency? Does this depend on the presidency? Or is this money that the family would have made in their old business? As an owner of real estate and a reality television star, he decided to.
A (1:31)
Focus primarily on Trump's liquid assets, the cash in the bank versus things like stocks or meme coins, which can change in value. And he arrived at a dizzying total.
B (1:41)
The tally comes out to $3.4 billion, which I think by any measure is a lot of money. So I think that what I've come up with is really probably a baseline, is probably a minimum and not at all a maximum. And the thing that really stood out to me is the speed at which they're bringing this money in and the evident eagerness, even zeal, for making money. So much more so in this term than in the first term.
A (2:08)
When you dig into that $3.4 billion total that Kirkpatrick found, Trump's various cryptocurrency ventures make up the biggest piece of the pie. Kirkpatrick estimates they've generated at least 2.37 billion in and counting.
B (2:24)
On the day the piece was published, they did another deal through one of their crypto companies with a headline value of $1.5 billion. Now, I don't know how much of that is necessarily gonna go into their pockets, but it just gives you a sense of how fast this meter is ticking upward.
A (2:41)
At Trump's private Mar A Lago club, members now pay a million dollars to join and mingle with Trump and his inner circle. That's 10 times more than he was charging back in 2016. Kirkpatrick estimates the club has raked in an extra $125 million off of Trump's presidencies. He's collected over $127 million in legal fees and merchandise sales. And Kirkpatrick says there are a number of property deals that can only be explained by Trump's ascent to power.
