Yesterday's announcement about Trump Mimecoin's $100 million purchase led Tron (TRX) founder Justin Sun to become US President Donald Trump's biggest private donor in contest with Elon Musk.
As Trump's crypto token donations and purchases continue, it's safe to assume that the president will personally make more than $60 million from Justin San.
A few weeks ago, Sun was already a $75 million donor to Trump's first Defi project with his World Liberty Financial (WLFI) token purchase. Additionally, Sun and HTX, whom he claims to advise, have purchased $Trump Coins to exceed $38 million.
This week, Sun and his Trondao announced Another record-breaking purchase of $100 million Bill Zanker adapted to Memo Coin. Sun retweeted the announcement in affirmation.
Trump's own personal filming, enjoying a massive revenue split on these crypto projects, exceeded $55 million by June. Trump's personal profits have only increased with this week's $100 million Trondao announcement.
In addition to these direct purchases, the value of the president's holdings is also increasing due to the market capitalization of $Trump itself. Memecoin I raised $35 million yesterday Within 10 minutes of the Trondao headline.
Furthermore, the persistence of well-known and influential bidders in any open market can stimulate confidence in other investors' decisions, potentially holding them for longer or buying more.
Prominent bullishness from influential actors can have a significant impact on the feelings and behavior of a wider range of investors.
Justin Sun's musk as a percentage of net worth
Now, the donations of masks to Trump's campaign are bigger than the Sun, in absolute terms. However, the sun dwarfs musks by a percentage of personal net worth.
Musk has donated up to $281 million to help Trump win his reelection, but he personally is worth $347 billion. In contrast, Sun and his Tron ecosystem have announced purchases of more than $180 million, while Sun's estimated net worth is less than $8.6 billion.
In other words, Musk has donated less than 0.1% of his net worth and more than 2% of Sun.
It is important to note that Musk made a direct donation to Trump's Campaign and Political Action Committee (PAC) in a way that would not allow him to retain most of his contributions as an investment.
In contrast, the Sun purchased a token that retains its value. The sun doesn't resell most of them, but he probably Resell some of his tokens to reclaim his previous, de facto donations..
Read more: Memocoin profit targeted by Donald Trump's meme act
Trump has a series of brand licenses, loyalty and fee sharing agreements with WLFI and Trump, through which he personally makes money.
Both men quickly benefited from personal and business interests after their contributions. In fact, earlier this year, Musk benefited from his advisory position at the White House and weeks of influence in the administrative sector that influenced his business SpaceX, Xai and X.
He then suddenly cut off his relationship with the president. He left Washington, DC and started his own political party..
Sun's Securities and Exchange Commission lawsuits and criminal investigations remained this year. The president's son, Eric Trump, calls Sun “a great friend and an icon of the crypto space.”
