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WSJ: Trump Family Accumulates $5 Billion in Paper Wealth After WLFI IPO
BlockBeats News, September 2nd, according to The Wall Street Journal, the Trump family saw a staggering $5 billion increase in their net worth on Monday, as their flagship cryptocurrency project launched trading of a new digital currency.
This trading debut is likely the Trump family's biggest success in the financial sector since Trump took office. Currently, the Trump family (including Trump himself) collectively holds just under a quarter of the WLFI token. Trump's three sons are co-founders of World Liberty, while Trump himself carries the title of "Honorary Co-Founder."
World Liberty stated that tokens held by the founders and team members are still locked, meaning they are unable to sell. However, this trading launch has provided a real market valuation for their held tokens, whereas previously, the value of these tokens was based solely on private transactions.
Today, WLFI has likely become the most valuable asset of the Trump family, surpassing their decades-old real estate portfolio. Despite the Trump family continuing to pursue real estate deals globally since taking office, the rapid growth of the cryptocurrency business has evidently had the most direct early impact.
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