Eric Trump‘s fortune Soars to $400 Million

eric Trump, who has been running his father’s buisness for nine years owns no interest in any of the real estate for which the Trump Association is known. However, he inherited something even more valuable. Over the past year, Donald Trump has given a master class on how convert political fame into personal fortune. Eric has proven to be the best student and is now worth an estimated $400 million, more than any of his siblings.

Most of his fortune is a stake in American Bitcoin, a company that mines and stores cryptocurrencies.At the end of September,there were 3,418 bitcoins available, worth approximately $320 million at current prices. American Bitcoin’s market cap is over $2 billion, valuing Eric’s 7.3% stake at around $160 million. “We greatly aspire to be the best cryptocurrency company in the world,” Eric boasted on television at the beginning of September. “I think you no how much we charge-we’re pretty well known for that-and we’re having a great time.”

It’s hard not to have fun when making millions of dollars, and American Bitcoin isn’t the only valuable investment Eric holds. His stake in World Liberty Financial, which his father launched with his sons Eric, Donald Trump Jr. and Barron shortly before last year’s elections, has brought him about $135 million. Along with other new assets,the two cryptocurrency companies have increased Eric’s net worth tenfold since the eve of his father’s return to the White house.

When asked for comment, Eric disputed the assessment but declined to explain why.

Eric’s fortune with American Bitcoin began with American Data Centers, a non-transparent company that he launched with his older brother in February. Just over a month later, ADC merged with Hut 8, a Bitcoin mining company, to create American Bitcoin. in May, American Bitcoin announced a merger, completed in early September, with Gryphon, a publicly traded cryptocurrency mining company. The main goal is to install enough computers to solve puzzles that unlock Bitcoins at the lowest possible price, and then watch the company’s reserves grow higher and higher.

The combined operation hit the public markets on September 3 under a new ticker symbol, ABTC. It hit a high of $14.52 per share, raising the estimated value of Eric’s 68 million shares to about $1 billion on paper. But the enthusiasm quickly died down: ABTC closed at $8.04 that day. It then continued to decline, including a 42% drop this week, to $2.39 per share. Eric attributed the most recent drop to the release of private placement shares for some early investors.