Democrats are sharpening their subpoenas, and Donald Trump’s own paperwork may hand them the roadmap, according to a new report.
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The president’s 2025 financial disclosure, a 927-page filing released by the Office of Government Ethics, shows Trump pulled in more than $2.2 billion last year, the richest stretch of his life. Crypto ventures that barely existed when he took office became his single largest source of income, topping $1 billion. His biggest single payday was $635 million in royalties tied to the $TRUMP meme coin, run through his firm CIC Digital. He also reported more than $80 million from legal settlements with ABC, CBS, Meta, YouTube and X.
Trump waved off the numbers, telling reporters his money sits in what he called a “blind account” managed by outside firms, and that he is profiting only because “the stock market’s going up, everybody’s profiting.”
Ty Cobb, who served on Trump’s first-term White House legal team, previously said the setup likely violates the Constitution’s Emoluments Clause and amounts to “the greatest onslaught of corruption in the history of mankind.” Democrats say that if they retake the House in November, they will bury Trump’s family, Cabinet and donors in investigations.
“Democrats are preparing a hostile audit of President Trump and his inner circle, intent on exposing — and ultimately ending — the most lucrative presidency in American history,” Axios reported Friday.
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House Speaker Mike Johnson has heard the threat and warned donors at the Faith and Freedom Coalition’s annual summit what a Democratic majority would mean.
“Half of you in this room will be targeted. I run the protection program. I’ll take care of you,” he said.
Rep. Alexandria Ocasio-Cortez pounced, accusing Johnson of pitching a “protection racket” for the powerful. White House spokesperson Anna Kelly countered that there are “no conflicts of interest” and that Trump “only acts in the best interests of the American public.”
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