President-elect Donald Trump's Net Worth Balloons Nearly 700% Thanks to His Solana-Based Meme Coin

President-elect Donald Trump caused a significant buzz over the weekend with the unexpected launch of a meme coin, Official Trump (TRUMP), on the Solana network just days before his inauguration.

President-elect Donald Trump made waves over the weekend with the surprise launch of a meme coin, Official Trump (TRUMP), on the Solana network ahead of his inauguration. This coin, unsurprisingly, has seen rapid success, potentially boosting Trump into crypto billionaire status.

According to Forbes, Trump’s net worth stood at around $7 billion a week ago. However, with TRUMP trading at $58.15 at the time of writing, this would value his net worth at about $53.5 billion. This places him among the top 30 richest persons in the world.

At TRUMP’s highs of around $80, Trump’s net worth would have been valued at around $71 billion, a over 10 times increase from the Forbes estimate.

This potential boost comes as CIC Digital LLC, a Trump-controlled entity, holds 80% of the TRUMP token supply. For context, TRUMP has a 1 billion token supply, putting Trump’s potential stake at 800 million coins.

These coins have a three-year unlock schedule, which theoretically allows Trump to access and sell an average of 24 million TRUMP a month, which is worth nearly $1.4 billion at current prices, per an Axios estimate.

The official TRUMP project website asserts that the meme coin is not an investment product but rather a means to express support for the project’s ideals.

However, this has not stopped ethical debates around the project, especially as crypto looks set to benefit from the president-elect’s promised policies.

A Family Affair

As the debates and hype around TRUMP continue, the incoming first lady, Melania Trump, has also launched her own eponymous meme coin, Official Melania Meme (MELANIA). Unsurprisingly, MELANIA has also seen rapid success, hitting a market cap of over $2 billion overnight and trading around the $11 price point.

Unlike TRUMP, however, only 35% of MELANIA is reserved for the project’s team.