The threat of US tariffs weighs on Europe but meanwhile Trump's business is booming

Following US President Donald Trump's letter urging 30% tariffs on Europe and Mexico starting August 1st, major European stock markets are continuing to contain losses. Cryptocurrencies, however, are experiencing a veritable boom, particularly bitcoin, which today, Monday, July 14th, soared above $122,000, up more than 3.6%. Trump's meme coin, the $Trump token, is also benefiting from the strong performance: it is currently up 0.52% at $9.74. Over $500 million worth of meme coins have been traded in the last 24 hours.

The meme coin $Trump has seen a volatile performance since its launch in January, peaking at $15 billion in market cap on its first day of trading before falling sharply to around $2 billion in July. Its complementary token $Melania, on the other hand, has plunged more than 90% from its January offering price to less than $141 million. But this kind of price volatility has been good for business. The code for the $Trump token automatically directs a fee from every transaction to wallets linked to its creators. Between January and April alone, according to Chainalysis, these wallets collected more than $324 million in trading revenue. The blockchain analytics firm has since stopped tracking this metric.

According to Bloomberg, Donald Trump has earned over $620 million in just a few months thanks to cryptocurrencies. These cryptocurrencies now represent a significant portion of the US president's net worth, which is estimated at approximately $6.9 billion. With World Liberty Financial (WLF), the cryptocurrency platform launched in September 2024, Trump earned $390 million through the sale of WLFi tokens. The company also earned $100 million after a deal between MGX and Binance for the use of WLF's dollar-denominated stablecoin, USD1. Trump's meme, launched upon his inauguration in January, earned him $150 million thanks to its skyrocketing price, although it is now trading 88% below its record high. Finally, with the sale of several of his NFT (non-fungible token) collections since 2022, Donald Trump has collected $7 million.

Although USD1 is currently valued at $2.2 billion, Bloomberg estimates that the platform will be able to generate up to $100 million in revenue from this stablecoin this year. Similarly, the Trump family now owns 20% of a mining company, American Bitcoin, which recently raised $220 million to invest in mining equipment.

According to a document released by the White House in June, Trump has made significant profits from the sale of customized products. For example, the company 45 Footwear paid Trump $2.5 million to put his brand name on sneakers and perfume. The Best Watches on Earth group shelled out $2.8 million for a watch license. LMA Productions paid the president a total of over $2.3 million to put his name on a Bible and on guitars, which, if autographed, can cost up to $11,500. Finally, several publishers have spent sums ranging from $250,000 to $3 million to print books such as Letters to Trump, Save America, and A Maga Journey.

The Mar-a-Lago Club in Florida also generated just over $50 million in revenue for Donald Trump. But that's not all. His three golf clubs also increased his income. With Jupiter, Doral, and West Palm Beach, he generated nearly $220 million in revenue. Trump also received a $6,484 monthly pension from the Screen Actors Guild (SAG), which represents Hollywood actors. The US president also collected approximately $11 million in dividends from his numerous investments in funds and publicly traded companies such as Caterpillar, Charles Schwab, and the Italian company CNH Industrial.