Eric Trump billionaire news is now official. The second son of U.S. President Donald Trump entered the billionaire ranks after the debut of American Bitcoin, his cryptocurrency mining company. Shares surged in early trading, briefly pushing his stake above $950 million before settling at an estimated $590 million by market close.
Eric, serving as co-founder and chief strategy officer, controls about 73 million shares according to filings with the Securities and Exchange Commission. With a final trading price of $8.04, his personal wealth from the stake surpassed the value of any single Trump family real estate holding. On X, Eric celebrated with a fiery post, writing: “What a morning!!”
The company’s operations focus on mining and stockpiling cryptocurrency, powered by energy-rich facilities in Texas, Alberta, and Niagara Falls, New York. In August, it purchased more than 16,000 Bitcoin-mining machines. As of September 1, American Bitcoin reported holding 2,443 Bitcoin valued at roughly $275 million. Yet most of that—2,234 Bitcoin—was pledged to lenders who financed its hardware purchases. Despite only having two full-time employees, American Bitcoin’s market value skyrocketed to $7.3 billion.
Donald Trump Jr., Eric’s older brother, is also linked to the company. He signed documents in its prospectus as an investor, though his exact stake remains unclear. Beyond mining, the brothers have fueled the family’s broader crypto ventures. Together, they pushed their father toward World Liberty Financial, a project that launched the USD1 stablecoin in 2024. The venture has since sold an estimated $1.4 billion in tokens, with most of the proceeds benefiting the Trump family. The coin gained traction when a UAE-linked firm used it for a $2 billion exchange investment, further boosted by President Trump’s July law establishing a stablecoin regulatory framework.
Outside crypto, the Trump sons have struck new international licensing deals in Saudi Arabia, the UAE, and Romania, expanding revenues from $7 million in 2023 to $45 million in 2024. They also joined the advisory board of Dominari Holdings, which helped them launch New America Acquisition I Corp, a special purpose acquisition company (SPAC) aiming to raise $300 million to target mergers in tech, healthcare, and logistics.
Donald Trump Jr. has broadened his reach with board seats in U.S. businesses. He recently joined online firearms retailer GrabAGun, which trades under the ticker “PEW,” and advises drone manufacturer Unusual Machines. Forbes estimates his stakes in these companies are worth over $4 million.
The Trump brothers’ aggressive moves into cryptocurrency, licensing, and venture deals underscore their growing financial independence. For Eric Trump, the success of American Bitcoin marks the moment he became a billionaire in his own right, establishing a legacy far beyond the family’s real estate empire.
