Can you believe it?
Donald Trump is now probably the biggest living crypto billionaire in history. President Trump’s fortune is now bigger than the S&P 500 in 1947.
As of Friday afternoon, President Trump’s net worth was estimated at ~$9.2 billion, half of which was DJT meme stock. Sunday morning, it was worth $70 billion. What a weekend!
80% of the memecoin $TRUMP is owned by Trump Organization affiliates, according to Bloomberg. The affiliate is called CIC Digital LLC and a related entity called Fight Fight Fight LLC. A total of 800 million coins will be unlocked over the next 3 years. At $500, Trump will be richer than Elon Musk. At $2,100, President Trump will overtake Bitcoin. All without producing anything of economic value.
Clearly, the TRUMP meme coin weekend story has raised a lot of eyebrows. How is it possible for a financial instrument to be worth $70 billion with no economic value or tangible assets behind it, and it happened in less than 48 hours?
How is it possible for the new President of the United States to be behind this meme and make so much (unrealized) profit in 48 hours?
