Trump says outside funds “run my money” after disclosure shows billions in 2025 revenue

President Donald Trump on Wednesday brushed off questions about the staggering amount of money reported in his sprawling 2025 financial disclosure, saying his investment decisions are made by outside parties and he’s only profiting because the stock market is up.

“I don’t get involved in my personal — we have funds that run my money,” Trump told reporters at Joint Base Andrews before boarding a Qatar-gifted jumbo jet converted to become the new Air Force One.

He said he does not speak with the institutions that manage his money: “I never — I don’t even speak to them.” Trump described the arrangement as funds that invest on his behalf, adding that “they run it.”

Asked what Americans should take from his highly lucrative first year back in the White House, Trump said he has “made a lot of money,” and that “they invest my money.” He also said he doesn’t even speak to the people running the funds and characterized them as “big institutions.”

CNBC analysis: at least $2.24B revenue in 2025, up from 2024

According to a CNBC analysis of his annual disclosure forms, Trump reported at least $2.24 billion in revenue last year, compared with at least $622 million reported in 2024. The jump is largely due to roughly $1.2 billion in cryptocurrency-related income reported in his 927-page disclosure.

The crypto figure includes about $580 million connected with World Liberty Financial, the company co-founded by members of Trump’s family that issues the WLFI governance token and USD1 stablecoin. World Liberty launched USD1 in March 2025 after Trump began his non-consecutive second term as president.

Trump also disclosed receiving $635 million in royalties from what were described as “Celebration Coins,” tied to CIC Digital LLC, Trump’s memecoin business.

Trump repeated that he does not manage the money directly, describing the arrangement as “a blind account” where the managers take his funds and invest.

Trump response to critics: market up means everyone profits

Asked to respond to critics accusing him of profiting off the presidency, Trump said: “Well, you know why I’m profiting is the stock market’s going up, everybody’s profiting.”

He added that, according to the Securities and Exchange Commission, 54.4% of Americans are invested in the stock market, and argued that he is profiting because he has cash and gives it to institutions that buy a broad range of assets.

Disclosure also shows large stock transactions and potential conflict-of-interest questions

The massive financial document also shows Trump’s purchases and sales of hundreds of companies’ stocks. Some individual transactions totaled millions of dollars, with the biggest valued between $5 million and $25 million.

Some stock transactions occurred shortly before or after major news related to the corresponding companies. For example, the form shows Trump purchased Amazon stock worth between $500,000 and $1 million on Sept. 23, the same day a trial began on federal allegations that Amazon duped customers into paying for Prime memberships.

His previous financial disclosure report, released in May and covering the first three months of 2026, raised concerns about potential conflicts of interest, which the White House has denied.

White House spokeswoman Anna Kelly told CNBC in an email Wednesday that neither the president nor his family has ever engaged, or will ever engage, in conflicts of interest.

Kelly’s statement also emphasized that the president has “made the United States the crypto capital of the world” through executive actions and referenced policies such as the GENIUS Act. She said questions about whether Trump’s actions are in Americans’ best interests are based on “the same, tired, false narrative” pushed for a decade.

Trump ignored a question on Wednesday morning about conflicts of interest.