Over 80% of Donald Trump's net worth is now invested in memecoin as he becomes one of the richest people on Earth
The incoming president launched $TRUMP of the eve of his inauguration
Over 80% of Donald Trump’s net worth is now invested in a meme coin.
The president-elect is due to be inaugurated back into the White House later today (January 20).
And not only is Trump embarking on his second term as president but he has also become one of the richest people on Earth.
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This is largely due to his own meme coin $TRUMP being launched on the eve of his inauguration.
In the last 24 hours, the Republican businessman has gained more wealth than in his entire career and his net worth now stands at around $60 billion.
This places Trump in the top 25 richest people in the entire world.
He took to social media platform Truth Social to announce his new crypto, where he wrote: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”
It’s certainly unusual for an incoming president to launch a cryptocurrency hours before being sworn into office but this isn’t the first association with a meme coin for the Trump administration.
Shortly after his election victory in November 2024, Trump announced that Elon Musk would be taking on the role as head of the Department of Government Efficiency (DOGE).
While not technically a government department, DOGE is expected to act as an outside advisor where Musk has promised to slash the federal budget by trillions of dollars.
On social media, DOGE has been associated with a meme coin by the same name, something that Musk has referenced himself on X, formerly Twitter.
Dogecoin, which was initially created as a joke, went viral in 2010 and features a design of a famous Shiba Inu dog.
Musk shared a meme of the dog on X, formerly Twitter, after pledging to make $2 trillion in cuts.
The billionaire also posted on X that ‘the merch will be [fire emojis]’.
Musk appears to strongly believe in the viability of Dogecoin as part of the US economy, arguing: “I think the flat inflation of Dogecoin, which means decreasing percentage inflation, is a feature, not a bug.”
That might mean that the 15-year-old meme isn’t going anywhere anytime soon.
And with Trump’s new meme coin, the presence of cryptocurrency being used by the government could see growth in 2025.
And he isn’t the only member of the incoming First Family to have a meme coin.
The First Lady has since followed suit, announcing her own coin - $MELANIA.
Writing on X, she said: “The Official Melania Meme is live! You can buy $MELANIA now.”
The tweet was then reposted by Trump.