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The stories that matter on money and politics in the race for the White House
Donald Trump is using the final stretch of the White House race to sell everything from crypto tokens to watches, books and jewellery to millions of fans, boosting his family’s finances on the back of his political appeal.
Between campaign stops in the swing states this week, Trump posted a video on Truth Social, his social media channel, to celebrate the launch of a new token on World Liberty Financial, a cryptocurrency platform linked to him and his sons.
“Crypto is the future! Let’s embrace this incredible technology and lead the world in the digital economy,” he told his 7.9mn followers on the social media site, speaking as a seasoned television salesman.
Last weekend, Trump sought to help his wife Melania boost sales of her newly released book — called Melania — by reposting her own callout on Truth Social for people to purchase various versions of the memoir, including the $250 signed collector’s edition with bonus photographs.
“This book is a piece of history, art, & elegance all in one,” Melania Trump wrote, linking to a website where the former and possibly future first lady is also selling jewellery including a $600 “vote freedom” charm and a $90 star-shaped Christmas ornament with USA printed across it.
The universe of the Republican presidential nominee’s side-hustles is far more vast than the items he has been touting over the past week. Earlier this year, as he emerged victorious from his party’s presidential primary contest, Trump began selling a copy of the Bible for $59.99. Last month on Truth Social he was busy promoting the “official Trump watch collection” including a $100,000 “Trump victory Tourbillon” — saying there were only 147 left.
Big events have provided more fodder for merchandise linked to the former president. Trump last year sold scraps cut from the suit he wore when he was indicted for a scheme to overturn the 2020 election results in Georgia, and is still selling relics from the outfit he wore during his June debate against Joe Biden. Meanwhile, Trump is selling cologne with a picture of him raising his fist and shouting “Fight fight fight” after being nearly killed in an assassination attempt at a rally in Butler, Pennsylvania, in July.
Back in February, Trump made an appearance at a footwear trade show in Philadelphia to promote his $399 golden high-top sneakers, which got a mixed reaction from the audience. “There’s a lot of emotion in this room,” he said. “This is something that I’ve been talking about for 12 years, 13 years. And I think it’s going to be a big success,” he said.
The Trump campaign says the merchandise sales are separate from his political fundraising. “These are not campaign-related. They are outside business ventures,” said Karoline Leavitt, the national press secretary for the Trump campaign. She did not say how much Trump had earned from his side-businesses since launching his bid for a second White House term.
However, any additional financial gains would come on top of the revenues earned from Trump’s properties, including his resorts, during this election cycle. According to ProPublica’s estimate, these have earned $4.9mn since early 2023 from political spending, of which the vast majority — $4.1mn — has come from the Trump campaign.
Trump’s efforts to generate additional cash for himself and his family come as he has faced high legal bills connected to civil and criminal cases over the past two years at both the federal and state level, including a conviction in New York on falsifying business records.
But there is scant information on the deals Trump has made in connection with his private business ventures, including the licensing agreements connected to them, and the influence he holds over their governance.
On the website of World Liberty Financial, Trump is listed and pictured as “chief crypto advocate”, while his sons Don Jr, Eric and Barron are each a “web3 ambassador”. Steven Witkoff, a real estate investor, is co-founder of the group. The contact for the watch business connected to Trump is listed on its website as TheBestWatchesonEarth LLC, based in the small western town of Sheridan, Wyoming, but there is no further information about it such as a telephone number.
The Harris campaign did not respond to a request for comment on Trump’s side businesses. But while the former president’s commercial activities could fuel some admiration for his business acumen and entrepreneurialism, it could also draw accusations that he is taking advantage of Americans for his own gain.