SCOTT SIMON, HOST:
President Trump is a billionaire. He made his career before politics with sizable business interests like real estate, golf courses and hotels. By licensing his name, he has put the Trump brand on things like steaks, sneakers and now Trump Mobile, a phone company. The new venture comes as ethics filings reveal that the president reported more than $630 million in income last year. NPR's Stephen Fowler joins us. Stephen, thanks so much for being with us.
STEPHEN FOWLER, BYLINE: Hey, Scott.
SIMON: What can you tell us about where President Trump's income originates?
FOWLER: So about three-quarters of that $630 million income is revenue from Trump's hotels and golf-related businesses, like his Mar-a-Lago Club and other real estate holdings. He's also got a sizable amount in investment accounts that earn interest and dividends. Then there's things like Trump's merchandise and retail sales and a string of licensing deals. That's several million dollars from the 45 guitar, Trump watches, Trump sneakers and the Greenwood Bible, inspired by the singer Lee Greenwood of "God Bless The USA" fame.
SIMON: What stood out to you in this disclosure?
FOWLER: Well, the things I just mentioned were pretty standard for him, but there's also more than $57 million earned from token sales of cryptocurrency. That's a new venture for Trump in the family business. But we really don't know the full extent of the income from sales this year because that's not mentioned on this form. Trump also gets a pension of about $92,000 a year, and he reported about a thousand dollars in residuals from appearances in movies and TV shows like "The Little Rascals" and "Fresh Prince Of Bel Air."
It's important to note, Scott, this financial disclosure shows a range of businesses and has a range of both value and income, and it does appear to run through the end of 2024. So it's just a snapshot in time of his wealth, which, all told, is more than $1.6 billion in assets as of this filing. It doesn't include recent business transactions or the expansion of his licensing deals. We have seen several new Trump-branded products since his inauguration.
SIMON: Yes, and I mean, 'cause I remember Trump steaks, Trump University, Trump perfume or fragrance. Some of those ventures did better than others. This week, there's a new phone company. How does this work?
FOWLER: Well, Trump Mobile launched on the 10-year anniversary of the president's first campaign announcement. It's another example of Trump's brand on full display. The phone plan offers service through the three major cell providers. It's the 47 plan that will be available for $47.45 - a nod to Trump being the 47th and 45th president. You can keep your existing phone or preorder a golden T1 phone that will allegedly be made in the USA, though industry experts say that's unlikely for now.
I mean, it's not reinventing cellphones or cellphone plans, but this is firmly signaling the preference for the president and supporting him. If you read the fine print, you'll see that Trump Mobile, its products and services are not designed, developed, manufactured, distributed or sold by the Trump Organization. It's a licensing agreement pursuing (ph) to a limited deal, so it's similar language to his other licensing things. There's even a Trump company dedicated to just handling these types of trademarks.
SIMON: How has his brand changed since becoming president?
FOWLER: I spoke with Robert Passikoff. He's the founder and president of Brand Keys. He's tracked the value and impact of Trump's brand since the '80s. He said Trump started out as one of the few people you could call a human brand, and that's still true now, but it's for a different audience.
ROBERT PASSIKOFF: He still resonates with certain values for people. You know, he's become the Martha Stewart of the conservative right.
FOWLER: There is a fair amount of criticism from ethics watchdogs and other groups who say Trump's profiting from the presidency. The White House says Trump has repeatedly been following ethics rules, and all of his assets are in a trust.
SIMON: NPR's Stephen Fowler. Thanks so much for being with us.
FOWLER: Thank you. Transcript provided by NPR, Copyright NPR.
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