Senator Bernie Sanders (I-Vt.) recently accused the Trump family of making approximately $4 billion during Donald Trump’s second term as president, describing the gains as “unprecedented kleptocracy.”
In public statements and on social media in late April 2026, Sanders pointed to a New Yorker investigation that tallied the Trump family’s financial benefits tied to the presidency. He contrasted the reported windfall with what he described as insufficient focus on the economic struggles of working Americans.
Breakdown of the Reported Gains
According to the New Yorker’s reporting by David D. Kirkpatrick, the roughly $4 billion figure — updated to about $4.05 billion in early 2026 — includes:
- Approximately $3.02 billion from cryptocurrency ventures, including World Liberty Financial’s stablecoin USD1, the $TRUMP memecoin, and related projects.
- $425.8 million from deals connected to Persian Gulf entities.
- $150 million linked to a jet from Qatar.
- Additional amounts from Mar-a-Lago events (around $125 million), legal settlements and merchandise, corporate partnerships, a hotel project in Hanoi, Truth Social, and other ventures.
The investigation attributes these gains primarily to new opportunities that emerged or expanded because of Trump’s return to the White House, particularly in the crypto sector amid shifting regulatory policies.
Origins of the Figure
Kirkpatrick’s earlier August 2025 estimate stood at $3.4 billion. The updated total relies on a conservative methodology that counts only deals and ventures with clear ties to the presidency. It excludes pre-existing Trump Organization businesses, standard political fundraising, illiquid assets, and full valuations of volatile holdings like cryptocurrency.
Mainstream outlets including Forbes and Bloomberg have similarly reported sharp increases in Trump family net worth following the 2024 election, with cryptocurrency playing a central role.
Important Caveats
The $4 billion figure remains an estimate based on public records, deal announcements, and market valuations rather than audited financial statements. Cryptocurrency valuations, in particular, are highly volatile and subject to rapid change.
Critics of the reporting argue that the numbers are inflated for partisan effect and reflect legitimate business activity amplified by Trump’s personal brand and public profile. The White House has rejected the narrative as biased media attacks. No criminal convictions related to these specific dealings have been reported in the coverage.
Questions about presidential conflicts of interest and potential emoluments are not new and have been raised across party lines in past administrations. However, ethics observers have noted the scale of reported private gains during Trump’s current term as unusual.
Sanders’ comments reflect ongoing partisan debate over ethics in government, cryptocurrency regulation, and the intersection of wealth and political power. The claim draws directly from investigative journalism but, like many figures in this space, is open to interpretation and political contestation.
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