Billionaire outspends Musk (as % of net worth) in Trump token splash
Billionaire outspends Musk (as % of net worth) in Trump token splash originally appeared on TheStreet.
On July 10, billionaire Justin Sun purchased $100 million worth of President Trump's memecoin, Official Trump (TRUMP).
On X, the TRUMP team posted, "We are so excited that justinsuntron / trondao is buying $100 Million of $TRUMP!"
This has sparked renewed discussion about the limits of political finance in the crypto era. Unlike traditional campaign contributions — which are limited, tracked, and cannot be returned — Sun's token purchases occupy a gray area: they financially support the President, yet remain liquid assets that could be sold later.
As a Presidential candidate back in 2024, Donald Trump raised approximately $7.5 million in crypto donations, according to CNBC.
It's a brash contrast to Elon Musk. With Musk having contributed up to $291 million directly to President Trump's campaign and PACs, Sun's crypto sponges, which have grown to over $180 million, function more as a hybrid vehicle of speculation and support.
Although Sun's net worth is estimated to be $8.5 billion, his spending accounts for more than 2% of his total wealth, far outweighing Musk's contribution, which is less than 1% of his much larger fortune. Now, especially with Musk opposing the President's Big Beautiful Bill, Sun has to make Sun the top holder of TRUMP.
Interestingly, Sun had given $75 million to Trump's first DeFi project weeks earlier through WLFI token purchases. Sun and his advisory firm, HTX, also bought $TRUMP coins, increasing his holdings to over $38 million.
Today, President Donald Trump earns tens of millions of dollars personally from token sales by licensing his name and revenue sharing with cryptocurrency companies, such as World Liberty Financial (WLFI) and TRUMP.
Billionaire outspends Musk (as % of net worth) in Trump token splash first appeared on TheStreet on Jul 10, 2025
This story was originally reported by TheStreet on Jul 10, 2025, where it first appeared.
