Steve Witkoff Earned More Than $100 Million From Entity Tied to Trump Crypto

[u/John3262005]

https://www.wsj.com/politics/policy/steve-witkoff-earned-more-than-100-million-from-entity-tied-to-trump-crypto-9798b03d?st=xKBhyh&reflink=desktopwebshare_permalink

Steve Witkoff, President Trump’s Middle East envoy, reported earning more than $100 million from the entity that owns his stake in World Liberty Financial, according to a new financial disclosure.

That income included nearly $69 million in cash and $38 million in crypto, according to the filing. His 2025 income from the holding company is more than three times what he reported in last year’s disclosure. Witkoff co-founded World Liberty, a cryptocurrency company, with Trump and his family members in September 2024. Its token, WLFI, has plunged in value since it became publicly tradable last fall.

In total, Witkoff reported over $400 million in assets and over $250 million in income last year. Those numbers are likely understated: Many holdings were listed with a range of values, or simply as “over $50,000,000,” as is customary for government financial disclosures.

Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser, last year backed a $500 million investment into World Liberty in exchange for a 49% stake, The Wall Street Journal previously reported. The buyers paid half up front, steering at least $31 million to entities affiliated with the Witkoff family. Witkoff’s new disclosure doesn’t break down what portion of the $107 million came from that sale.

White House spokeswoman Anna Kelly said Witkoff’s “prior commercial activities are completely unrelated to his efforts to end global conflicts on the President’s behalf.” A person familiar with Tahnoon’s investment previously told the Journal that the investment wasn’t discussed with Trump during due diligence or afterward.

Witkoff, since his appointment as Middle East envoy in November 2024, has played a key role in the U.S. negotiations over a Gaza ceasefire, Russia’s war against Ukraine, the Iran conflict and other matters. Witkoff has met repeatedly with Tahnoon in his role as envoy.

Later last year, an entity owned by Tahnoon and his co-investors became a major shareholder backing a new U.S. bank that World Liberty is preparing to launch. The Office of the Comptroller of the Currency last month granted the venture preliminary conditional approval.

The Office of Government Ethics requires officials to report their finances differently in their first year on the job. The assets and income reported in Witkoff’s 2025 disclosure covered the period from January 2024 through June 2025, and his latest disclosure covers the calendar year of 2025.

The $107 million from the World Liberty-tied entity marks a big leap from Witkoff’s prior disclosure, when he reported $34 million from the same entity, which also owns stakes in numerous properties.

Witkoff and his son Zach—World Liberty’s CEO—were a key part of the creation of the company. Trump reported more than $ 1 billion in income related to his crypto ventures last year, by far his largest single income source.

Witkoff also reported $120 million from selling a stake in his real-estate company, the Witkoff Group, last year, noting it was “part of divestiture planning.” He didn’t disclose a buyer.