Adam Schiff accuses Trump of making billions while Americans 'just broke even'

United States Senator Adam Schiff questioned the integrity of President Donald Trump in an X post on Tuesday, claiming that he made more money in his previous year as President than in the rest of his life combined. Schiff shared a New York Times report that stated that the President earned at least $2.2 billion from his crypto and business ventures. Trump’s mandatory financial disclosure report for 2025 also details deals cut with private entities in foreign countries under his name while he was President.

"Meanwhile, most Americans worked hard to just break even. This is the cost of corruption," Senator Schiff pointed out. As per the Times, ventures linked to the Trump name pulled in a minimum of $622 million in 2024, less than half of what he made before he became President for the second time. One of the most lucrative parts of his ventures has become crypto, with one of the highest incomes of the year coming as a result of an investment fund tied to the United Arab Emirates buying almost half of the family’s main crypto company, World Liberty Financial.

The Trump family has generated millions of dollars from the sales of the $TRUMP memecoin and token offerings from their decentralized finance platform, World Liberty Financial. This digital income has drawn intense scrutiny, as Donald Trump’s dual role as a major cryptocurrency player and the President positions him as an influential force in financial markets.

Following the release of President Trump's latest annual financial disclosures, Rep. Don Beyer slammed the administration for using policymaking powers to amass a digital fortune. Sharing a PBS News report on the filings, Beyer wrote on X, "Donald Trump isn't just shaping crypto policy, he's making a fortune from it. The President is getting richer while Americans fall further behind."

The Trump Organization was successful in licensing the Trump name to properties in countries that are of foreign policy interest, like Saudi Arabia and Qatar. Those deals alone were able to pull in $14 million. It is important to note that the financial disclosure report revealed the revenue of the businesses and ventures tied to President Trump. It did not reveal whether all of them were able to turn a profit the year prior. The report also did not offer much clarity about his net worth at the moment, which is tied to his estimated property values and changing crypto values.

Before heading to North Dakota to visit the newly built Theodore Roosevelt Presidential Library on Tuesday, Trump was asked about profiting while he was President. "I'm profiting because the stock market is going up. Everybody is profiting," he said, adding, "We are all profiting. I am profiting because I have a lot of money, and I give it to institutions. I don't know if they know what they're doing or not, but they buy a vast array of things."