Trump memecoin launch boosts presidents net worth by nearly 700% to 71B
At its peak, the net worth was $80 billion
The launch of the Official Trump (TRUMP) memecoin on the Solana blockchain and its surge to $58 at the time of writing has theoretically increased the net worth of the newly elected US President by almost 700%, potentially placing Donald Trump among the 30 richest people globally.
Calculations are based on Forbes' week-old valuation of Trump’s assets at $7 billion and the tokenomics of the Official Trump project. According to these, the Trump-controlled entity CIC Digital LLC, which issued the memecoin, holds 80% of the TRUMP token supply.
With a total token supply of 1 billion, Trump’s share amounts to 800 million tokens. These tokens are subject to a three-year unlocking schedule, allowing Trump to access and sell approximately 24 million TRUMP tokens monthly, valued at around $1.4 billion at current prices, as estimated by Axios.
At its peak price of $80, TRUMP's valuation would have pushed Trump’s net worth to approximately $71 billion—over 10 times Forbes' earlier estimate.
The project's official website claims the memecoin is not an investment product but rather a means of expressing support for its ideals.
Phenomenal wealth and ethical debates
The launch of the memecoin, first by Trump and later by his wife Melania, has sparked ethical debates about the project, especially considering that the cryptocurrency appears to benefit from the president’s promised policies.
For example, former Coinbase CTO Balaji Srinivasan suggested that after one-third of Americans purchased the official memecoin, Trump should distribute TRUMP tokens to every US citizen via postal mail.
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Srinivasan proposed an airdrop of “locked” TRUMP tokens worth $100 to approximately 77 million Trump voters, costing $7.7 billion in TRUMP tokens. He added that Trump could even send tokens worth $500 per person and still retain roughly $20 billion.
Srinivasan also pointed out that a large-scale token distribution could help Trump attract Democratic supporters and strengthen his presidency.
According to a recent survey by NFTEvening and Storible, at least one in seven Americans purchased TRUMP memecoins on launch day. Approximately 42% of TRUMP or MELANIA token buyers admitted it was their first cryptocurrency purchase.
Former First Lady Melania Trump has made headlines with the launch of her meme coin, MELANIA, just days after her husband introduced the TRUMP token.
