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.
A Donald Trump coin is pictured alongside Bitcoin and various other cryptocurrencies in this photo illustration in Brussels, Belgium, on August 5, 2025.
Photo by Jonathan Raa/NurPhoto via Getty Images
Brad Reed
May 01, 2026
COMMON DREAMS
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] administration,” Rattner commented, “is the most brazenly self-enriching in American history.”
'Grotesque': Trump sons' dubious mining deal triggers accusations of 'vast corruption'
Robert Davis
April 30, 2026
Robert Davis
April 30, 2026
RAW STORY
FILE PHOTO: Eric Trump speaks with his father, U.S. President Donald Trump, on the day of the grand opening of Trump International Golf Links Aberdeen in Balmedie, Aberdeen, Scotland, Britain, July 29, 2025. REUTERS/Evelyn Hockstein/File Photo
Political analysts and observers were aghast on Thursday after a new report suggested President Donald Trump's family had engaged in a dubious deal.
The Financial Times reported that Trump's sons, Don Jr. and Eric, had taken a stake in a Kazakh mining company that had recently been awarded a $1.6 billion loan from the U.S. government. The brothers reportedly bought into the company last August for an undisclosed amount. The report added that there is "no indication" that the Trumps knew the company was in talks with their father's administration, or that they influenced the decision to grant the loan.
Even so, analysts and observers expressed their outrage on social media.
"Not surprising. This family is beyond anything in the history of the U.S. Outright shameful," Martin Pelletier, portfolio manager at TriVest Wealth, posted on X.
" Trump Cartel’s corruption is so vast and grotesque and shamelessly out in the open that it has an almost paralyzing effect on the senses, made worse by the fact that there’s no systemic pushback, no 'opposition party' or elite resistance or even the hint of accountability," Marm Ames, a radio host, posted on X.
"A serious country would put these scoundrels in prison for life," podcaster Kyle Kulinski posted on X.
"Just a coincidence," Martina Navratilova, a former professional tennis champion, posted on X.
FILE PHOTO: Eric Trump speaks with his father, U.S. President Donald Trump, on the day of the grand opening of Trump International Golf Links Aberdeen in Balmedie, Aberdeen, Scotland, Britain, July 29, 2025. REUTERS/Evelyn Hockstein/File Photo
Political analysts and observers were aghast on Thursday after a new report suggested President Donald Trump's family had engaged in a dubious deal.
The Financial Times reported that Trump's sons, Don Jr. and Eric, had taken a stake in a Kazakh mining company that had recently been awarded a $1.6 billion loan from the U.S. government. The brothers reportedly bought into the company last August for an undisclosed amount. The report added that there is "no indication" that the Trumps knew the company was in talks with their father's administration, or that they influenced the decision to grant the loan.
Even so, analysts and observers expressed their outrage on social media.
"Not surprising. This family is beyond anything in the history of the U.S. Outright shameful," Martin Pelletier, portfolio manager at TriVest Wealth, posted on X.
" Trump Cartel’s corruption is so vast and grotesque and shamelessly out in the open that it has an almost paralyzing effect on the senses, made worse by the fact that there’s no systemic pushback, no 'opposition party' or elite resistance or even the hint of accountability," Marm Ames, a radio host, posted on X.
"A serious country would put these scoundrels in prison for life," podcaster Kyle Kulinski posted on X.
"Just a coincidence," Martina Navratilova, a former professional tennis champion, posted on X.
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