Former President Donald Trump is on track to earn more passive income from cryptocurrency, particularly Ethereum ETH/USD, than he does from his famous reality show, The Apprentice.
What Happened: Trump’s foray into the crypto world has proven to be a lucrative venture, according to recent financial disclosures and blockchain data.
His Ethereum and Polygon MATIC/USD wallets are generating substantial passive income, thanks to secondary NFT sales and token taxes from unofficial meme coins, Blockworks reported.
This income stream, which requires no ongoing effort from Trump or his team, is poised to outpace the royalties he has earned from The Apprentice in recent years.
Trump's NFT ventures have been particularly profitable.
The official Trump Digital Trading Card collections, launched on the Polygon network, brought in up to 1,237 ETH in their initial sales, equivalent to approximately $2.14 million at the time.
The value of these sales would be nearly $3.2 million today.
Additionally, Trump earns a 10% royalty fee on secondary sales of these NFTs, which has netted his wallet an additional 782.32 ETH, or $2 million, since January 2023.
Also Read: Bitcoin Looking Bearish While Equities Are At All-Time Highs: What Gives?
However, as NFT sales begin to dwindle, Trump’s Ethereum wallet has found a new source of revenue from a variety of illegitimate meme coins.
These tokens, such as Save America and Trump Bucks, automatically pay a 2% tax to Trump's wallet on every transaction. Over the past four months, these token taxes have accumulated 137.3 ETH, nearly $480,000 at the time of transaction.
In contrast, Trump's NFT royalties have earned only 4.5 ETH, or $11,600, during the same period.
When annualized, the combined earnings from these sources amount to over 425 ETH, or approximately $1.09 million at current prices.
This figure significantly surpasses Trump’s pension from the Screen Actors Guild and his reported royalties from The Apprentice over the past year.
As Trump continues to explore and benefit from the digital asset space, his passive crypto income could serve as a significant financial cushion, potentially outpacing traditional income streams he has relied on in the past.
What’s Next: The upcoming Benzinga Future of Digital Assets event on Nov. 19 will provide a timely platform for industry leaders, investors, and enthusiasts to explore the evolving landscape of digital assets.
Read Next:
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
