Benjamin Quail, Queen's University Belfast
At the end of June – in the run-up to America’s celebration of the 250th anniversary of the signing of the Declaration of Independence – Donald Trump staged the White House’s first-ever professional sporting event. And while the UFC Freedom 250 evening of mixed martial arts was ostensibly part of the July 4 jamboree, Trump took the opportunity to promote his family’s business interests.
Fighters were paid bonuses in US$1 stablecoins, the cryptocurrency owned by the Trump family, while the event itself cost a reported US$60 million, much of which was taxpayers’ money.
The US president’s ability to make money while in office has been a focus of attention since his financial reports for 2025 were made public at the end of June. His reported revenue jumped from US$622 million in 2024 to US$2.2 billion in 2025, the first year of his second term.
While he and his family claim that there is no conflict of interest, there is little doubt that Trump has been able to profit from his position. But how does his financial gain as president stack up with some of his recent predecessors?
The Kennedy family were famously wealthy. The family’s patriarch, Joseph Kennedy, put some of his money into trusts for his children, allowing John Fitzgerald, Robert Francis and generations of future Kennedys to pursue politics without financial worry or conflicts between business and public service.
Kennedy’s successor Lyndon B. Johnson owned significant land and a small media empire in Austin, Texas with his wife Lady Bird, all of which was put into a blind trust and officially controlled without the Johnsons’ involvement while he was in office.
During the 1972 election cycle, Time magazine reported that incumbent president, Richard Nixon had improved his finances by just over US$300,000 during his first presidential term, noting that he was “not yet a millionaire”. Most of Nixon’s financial assets were tied up in property and his civil service pension.
Jimmy Carter’s famous peanut farm assets were put into a trust when he won office, and he left the presidency in $1m of debt following droughts in Georgia. Ronald Reagan, who succeeded Carter and was not a businessmen but a film actor-turned-politician, came to office with some assets. His assets – valued in 1981 at about US$4 million, mainly made up of his two properties – were also held in trust while he was in office.
George W. Bush made almost US$15m selling his stake in the Dallas-based Texas Rangers baseball franchise in 1998, while he served as governor of Texas. Barack Obama earned money from royalties on book sales while in office, but both he and Bill Clinton have amassed considerable wealth since leaving office.
None of these presidents appeared to leverage their presidency or their image to earn money while in office in the way that Trump has during his second term. Instead, they tended towards waiting until the post-presidency years.
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