Chart Shows How Trump 2.0 Is 'Most Brazenly Self-Enriching' Administration in US History
Buying Trump's meme coin is like investing in "a pet rock, except you don't even get a rock" out of the deal, said economist Steve Rattner.
Since returning to office a little more than a year ago, President Donald Trump has nearly tripled his net worth, driven in large part by investments in his family's cryptocurrency ventures.
Appearing on MS NOW on Friday morning, economist Steve Rattner broke down how Trump's net worth has exploded from $2.34 billion in 2024 to an estimated $6.5 billion in 2026.
"So where did the money come from? He had $4 billion, he and his family, of profits," Rattner said. "$3 billion of it came from crypto, and I will tell you, there are so many transactions here, so many structures, that made my head hurt trying to understand it."
In addition to the crypto ventures, Rattner pointed to Trump son-in-law Jared Kushner raising money from investors in the Middle East through his investment firm Affinity Partners; increased revenue that came from raising admission fees to his Mar-a-Lago resort; and money he'd obtained from lawsuits against assorted media companies.
Rattner then explained the finances of the Trump meme coin, which he described as investing in "a pet rock, except you don't even get a rock" out of the deal.
"He sold them initially at $7, it went up to $45, not surprisingly it crashed," Rattner said.
However, Rattner said that early investors in the cryptocurrency, whom he described as "whale wallets," managed to profit handsomely from the venture by buying up large numbers of Trump coins and then selling them to retail investors, who were left holding the bag when the coin's value fell precipitously shortly after its launch.
"Let me just emphasize, it's not like [the retail investors] got anything," he added. "All they got, in effect, was like a little note, a little email or something, saying, 'Congratulations, you own 10 Trump meme coins.' But there's nothing they can do with it. They were buying nothing, they were buying air."
The economist did note that Trump made $600 million in trading fees that investors paid to carry out transactions of the coin.
After his appearance on MS NOW, Rattner posted a photo on social media of a graph he made to document the rise in Trump's wealth over the last two years.
Trump’s net worth has nearly tripled in his second term, reaching $6.5 billion.
His administration is the most brazenly self-enriching in American history.
My @Morning_Joe Chart. pic.twitter.com/pLQcU0ySVF
— Steven Rattner (@SteveRattner) May 1, 2026
"[Trump's] administration," Rattner commented, "is the most brazenly self-enriching in American history."
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Since returning to office a little more than a year ago, President Donald Trump has nearly tripled his net worth, driven in large part by investments in his family's cryptocurrency ventures.
Appearing on MS NOW on Friday morning, economist Steve Rattner broke down how Trump's net worth has exploded from $2.34 billion in 2024 to an estimated $6.5 billion in 2026.
"So where did the money come from? He had $4 billion, he and his family, of profits," Rattner said. "$3 billion of it came from crypto, and I will tell you, there are so many transactions here, so many structures, that made my head hurt trying to understand it."
In addition to the crypto ventures, Rattner pointed to Trump son-in-law Jared Kushner raising money from investors in the Middle East through his investment firm Affinity Partners; increased revenue that came from raising admission fees to his Mar-a-Lago resort; and money he'd obtained from lawsuits against assorted media companies.
Rattner then explained the finances of the Trump meme coin, which he described as investing in "a pet rock, except you don't even get a rock" out of the deal.
"He sold them initially at $7, it went up to $45, not surprisingly it crashed," Rattner said.
However, Rattner said that early investors in the cryptocurrency, whom he described as "whale wallets," managed to profit handsomely from the venture by buying up large numbers of Trump coins and then selling them to retail investors, who were left holding the bag when the coin's value fell precipitously shortly after its launch.
"Let me just emphasize, it's not like [the retail investors] got anything," he added. "All they got, in effect, was like a little note, a little email or something, saying, 'Congratulations, you own 10 Trump meme coins.' But there's nothing they can do with it. They were buying nothing, they were buying air."
The economist did note that Trump made $600 million in trading fees that investors paid to carry out transactions of the coin.
After his appearance on MS NOW, Rattner posted a photo on social media of a graph he made to document the rise in Trump's wealth over the last two years.
Trump’s net worth has nearly tripled in his second term, reaching $6.5 billion.
His administration is the most brazenly self-enriching in American history.
My @Morning_Joe Chart. pic.twitter.com/pLQcU0ySVF
— Steven Rattner (@SteveRattner) May 1, 2026
"[Trump's] administration," Rattner commented, "is the most brazenly self-enriching in American history."
Since returning to office a little more than a year ago, President Donald Trump has nearly tripled his net worth, driven in large part by investments in his family's cryptocurrency ventures.
Appearing on MS NOW on Friday morning, economist Steve Rattner broke down how Trump's net worth has exploded from $2.34 billion in 2024 to an estimated $6.5 billion in 2026.
"So where did the money come from? He had $4 billion, he and his family, of profits," Rattner said. "$3 billion of it came from crypto, and I will tell you, there are so many transactions here, so many structures, that made my head hurt trying to understand it."
In addition to the crypto ventures, Rattner pointed to Trump son-in-law Jared Kushner raising money from investors in the Middle East through his investment firm Affinity Partners; increased revenue that came from raising admission fees to his Mar-a-Lago resort; and money he'd obtained from lawsuits against assorted media companies.
Rattner then explained the finances of the Trump meme coin, which he described as investing in "a pet rock, except you don't even get a rock" out of the deal.
"He sold them initially at $7, it went up to $45, not surprisingly it crashed," Rattner said.
However, Rattner said that early investors in the cryptocurrency, whom he described as "whale wallets," managed to profit handsomely from the venture by buying up large numbers of Trump coins and then selling them to retail investors, who were left holding the bag when the coin's value fell precipitously shortly after its launch.
"Let me just emphasize, it's not like [the retail investors] got anything," he added. "All they got, in effect, was like a little note, a little email or something, saying, 'Congratulations, you own 10 Trump meme coins.' But there's nothing they can do with it. They were buying nothing, they were buying air."
The economist did note that Trump made $600 million in trading fees that investors paid to carry out transactions of the coin.
After his appearance on MS NOW, Rattner posted a photo on social media of a graph he made to document the rise in Trump's wealth over the last two years.
Trump’s net worth has nearly tripled in his second term, reaching $6.5 billion.
His administration is the most brazenly self-enriching in American history.
My @Morning_Joe Chart. pic.twitter.com/pLQcU0ySVF
— Steven Rattner (@SteveRattner) May 1, 2026
"[Trump's] administration," Rattner commented, "is the most brazenly self-enriching in American history."