Uday and Qusay Trump are billionaires!

This values their stake in American Bitcoin at $1.5 billion at the close of trade, based on 908.6 million outstanding shares that American Bitcoin said it had in a September 2 stock exchange filing. The highest price struck by the stock on Wednesday valued their stake at $2.6 billion.

Crypto ventures have become an important driver of growth and potential windfall profits for the president’s family, where the family business - The Trump Organization - had in the past focused on building and running real estate projects and golf courses.

"Crypto is exploding," Eric Trump said in an interview on Wednesday. "I would be saying right now, the crypto space is at least 50% of what I'm doing."

The Trump family's forays into crypto have drawn criticisms from Democratic lawmakers and government ethics watchdogs about conflicts of interests. Critics say the Trump family is profiting from crypto at the same time when the president is easing regulations and enforcement on the industry.

Eric Trump, the second son of Trump, dismissed such criticisms on Wednesday as "insane."

"My father has absolutely nothing to do with this venture," Eric Trump said. "He's is running a nation. He's not involved in our businesses in any way, shape or form."

Eric Trump, who holds the titles of co-founder and chief strategy officer at American Bitcoin, described his role at the company as akin to a spokesperson.

"Crypto had a very bad voice for a long time. They really had a hard time communicating a message," Eric Trump said. "I think I've become one of the great spokespeople for crypto over the last, call it, you know, 12 to 18 months," he said.

"I think I've been able to put a great voice on that, not just here in the U.S., but worldwide."

President Donald Trump has promised to be the “crypto president,” saying he backs the asset class because it can improve the banking system and increase the dominance of the U.S. dollar.

In line with his family's growing crypto interests, Eric Trump has travelled internationally this year to cities including Dubai, Hong Kong and Tokyo to rally foreign support for the crypto industry.

The Trump family has launched a string of crypto ventures in the past year, from American Bitcoin to World Liberty Financial, and meme coins launched by Trump and his wife before the president’s inauguration in January.

World Liberty Financial, which debuted digital tokens known as $WLFI on Monday, has earned the first family around $500 million since its launch last year, according to Reuters’ calculations.

Trump Media & Technology Group and Crypto.com agreed last month to a deal with a blank-check acquisition company to launch a new venture that will pursue a treasury-style strategy to buy the digital token CRO.

Hut 8 Corp, an energy infrastructure company that is also involved in bitcoin mining, owns about 80% of American Bitcoin.

American Bitcoin said in a stock exchange filing on Wednesday it is also selling $2.1 billion worth of shares, and plans to use the proceeds to buy bitcoins or bitcoin mining machines.

Why do good things keep happening for these assholes??

Their lives just keep getting better and better, all while that fucking family keeps making the rest of our lives worse and worse.

WHY????!!!!!

Crypto is such a scam.

No wonder the tRumps have embraced it.

Meanwhile, Elmo Musk is poised to become the world's first TRILLIONAIRE.

Evil really seems to be winning these days.

[quote] Tesla proposes Elon Musk pay package that could make him the world’s first trillionaire

[italic]Elon Musk, already the world’s richest person, could become the first trillionaire after the Tesla board unveiled a massive new pay package for its CEO to keep his focus on the troubled EV maker.

The package would grant him additional shares of Tesla stock if the company is able to grow far beyond its current value, with a market capitalization far greater than any company has ever approached. Musk’s previous pay package, which added significantly to his massive wealth, also laid out ambitious growth plans that once appeared to be a reach – but which Tesla proved able to reach easily.

The new pay package could grant Musk 423.7 million additional shares of Tesla stock. Those shares would be be worth $143.5 billion at today’s stock value.

But Musk would get those shares only if the value of Tesla stock increases significantly in coming years. The company stock would need to reach an overall value of $8.5 trillion for Musk to get all the shares, significantly above the current market capitalization of $1.1 trillion

Those 423.7 million new shares that Musk would get under this package would be worth close to $1 trillion should the company hit the increased valuation targets spelled out in Friday’s proxy statement.

If Tesla shares are able to reach the $8.5 billion market capitalization value, it could become the most valuable company ever. It would be worth roughly double the current market value of Nvidia (NVDA), the current most-valuable company on the market. Tesla is already the most valuable automaker by a large margin, even though legacy automakers, like second-most valuable automaker Toyota, sell far more vehicles and now make more profits.[/italic]

It's all air. It will inevitably collapse.

And Tesla isn't worth a billion, much less a trillion.