Biographer Pushes Wild Claims About President Trump’s Wealth and Business Deals
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Michael Wolff, a longtime Trump critic, alleges that President Donald Trump is aiming for a $20 billion personal fortune, but the White House says his claims are lies and smear tactics, pointing to Trump’s booming crypto earnings.
Biographer Michael Wolff wrote in his Substack newsletter that President Donald Trump is seeking to amass $20 billion in personal wealth before the end of his term, and to arrange deals that could generate $100 million for his family after he returns to Mar-a-Lago. Wolff claimed the number exceeds what White House insiders had expected, framing routine business success in the most sensational way possible.
According to the president’s financial disclosure released in late June, Trump earned more than $1.4 billion in 2025 from cryptocurrency activities, including $635 million in licensing fees from “Celebration Coins” and $525 million from token sales by World Liberty Financial, a firm he founded with his sons. A New York Times analysis estimated his total 2025 earnings at at least $2.2 billion, while Forbes reported a $2.7 billion increase in net worth since the 2024 election.
Wolff linked Trump’s financial ambitions to his relationship with Russian President Vladimir Putin, noting that the president recently waived sanctions on Russian oil, a move he described as a departure from prior policy. He wrote that access to Putin has historically provided “unregulated and unrestricted wealth.”
When asked for comment, White House spokesperson Davis Ingle responded that Wolff is “a professional scumbag and serial liar,” calling the biographer’s accusations unfounded and underscoring how little credibility the claims deserve.
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