US President Donald Trump has announced his new phone venture, “Trump Mobile”, on the 10th anniversary of his first White House run. The company claims its phones will be built and remanufactured in the US.
According to financial documents released last Friday, Trump’s cryptocurrency venture generated over $600 million in income from various sources including merchandise and token sales. His family members could also profit from a $2 billion deal involving stablecoins for an Abu Dhabi investment fund.
Merchandise has been a lucrative business for Trump, with licensing deals netting millions of dollars in royalties. In 2024, he asked supporters to buy a Bible for $59.99, selling over $1.3 million worth.
The new smartphone ‘T1’ is set to be released in September at a cost of $499. The company’s website states that the phones are made in the US and feature gold-plated designs with American flags on the back.
Trump’s phone venture has raised concerns from progressive Democrats, who worry about his financial stake in crypto and its impact on pending legislation. The Trump Organization is expanding its business ventures, including a recent dinner event for largest holders of his meme coin ‘Official Trump’.
Source: https://www.axios.com/2025/06/16/trump-mobile-crypto-merch-earnings-disclosure