WASHINGTON, D.C. — The Trump family cashed in on the presidency while American families paid the price. Since the November 2024 election, the Trump family has pocketed more than $2.9 billion in cash and gifts from crypto ventures, legal settlements, a luxury jet from a foreign government, and corporate deals, according to a new report released today by the Not Above the Law coalition. Over the same period, Trump signed a budget law that cut almost $187 billion from SNAP, leaving 5.2 million fewer people with help buying groceries.
The report, Let Them Eat Cake: Cost of Corruption, puts those facts side by side. The Trump family’s take alone could cover a full year of groceries for about 1.3 million people on SNAP. At the same time, Trump’s pardons let wealthy allies and fraudsters walk away from nearly $1.7 billion owed to victims and taxpayers.
“Donald Trump promised to lower costs for American families. Instead, he turned the presidency into his family’s most profitable business,” said Lisa Gilbert, Not Above the Law co-chair and co-president of Public Citizen.“While the Trumps collected nearly $3 billion from crypto schemes, foreign governments, and corporations seeking favors, millions of Americans lost help putting food on the table. Congress must stop the self-dealing and hold this administration accountable.”
Here’s what you need to know:
- The Trump family has pocketed more than $2.9 billion since the election, including more than $2.4 billion from crypto, according to the Center for American Progress’s Trump’s Take tracker.
- Foreign money flowed straight to the family. An investment vehicle controlled by the UAE’s national security advisor put $500 million into World Liberty Financial, and the administration soon cleared advanced AI chip exports to the UAE. Trump also accepted a roughly $400 million luxury jet from Qatar.
- That money could buy a full year of groceries for about 1.3 million people on SNAP, more than 600 million free school lunches, or three months of groceries for the 5.2 million people who lost SNAP benefits.
- Trump’s budget law cut almost $187 billion from SNAP and more than $900 billion from Medicaid. CBO estimates the law will leave 10 million more Americans uninsured by 2034.
- States are now paying more to run SNAP. As of October 1, states must cover 75% of SNAP administrative costs, up from 50%.
- Trump’s pardons wiped out nearly $1.7 billion in restitution, fines, and forfeitures owed to victims and taxpayers.
- Companies backed by Trump’s sons have collected $3.2 billion in federal funds, including a fast-tracked $620 million Pentagon loan to a company Trump Jr. invested in.
Read the full report here.