President Donald Trump’s net worth has skyrocketed since retaking the White House, largely thanks to one industry: cryptocurrency. On Friday’s “Morning Joe,” economic analyst Steve Rattner broke down the president’s profits and explained how he has effectively become the “crypto king.”
The former Treasury official used data from Forbes to track Trump’s wealth over time. While it has fluctuated over the decades, Rattner noted that during the president’s first administration, his net worth “went down pretty substantially.”
“A bit of that was Covid, but a lot was the fact that he put guardrails around the kinds of things [his company] would do. They wouldn’t do international deals, and so on and so forth,” Rattner explained. “And he actually was acting like a normal president.”
In the four years between Trump’s two terms, his net worth remained relatively steady. However, now back in the White House, it has nearly tripled — growing from $2.3 billion to $6.5 billion.
When broken down by category, the data shows the president, who built his entire business persona around his real estate deals, now owes much of his wealth to the crypto business. In one form or another, crypto accounted for $3.02 billion of the president’s profits from August 2025 to January 2026.
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“So crypto, crypto, crypto, crypto all the way,” Rattner noted, adding that the industry now “dominates” Trump’s net worth.
While the president has raked in billions from crypto, the same can’t be said for others. Days before his inauguration, Trump released his own meme coin, $TRUMP.
Many of his supporters rushed to purchase the coin, the value of which peaked at around $45 just after it launched. However, as Rattner explained, that value has since crashed, down 95% from its peak, wiping out billions in wealth for millions of Americans who were duped into buying the token.
“It is a coin that means nothing,” the “Morning Joe” economic analyst said. “It is like buying a pet rock, except you don’t even get a rock. It has no value. It has no trading value. It’s not used in commerce — nothing.”
You can watch Rattner’s full analysis in the clip at the top of the page.
Allison Detzel is an editor/producer for MS NOW. She was previously a segment producer for “AYMAN” and “The Mehdi Hasan Show.”