The Trump family’s grip over World Liberty Financial (WLF) has finally been publicly revealed with latest reports noting that Donald Trump and his family own at least 60% stake in the firm via a separate holding company.
World Liberty Financial, the decentralized finance (DeFi) platform, has been initially announced and endorsed by the U.S. president Donald Trump’s older son Eric Trump. The firm has till date purchased a number of crypto assets and it has been continually seen in headlines since the past few months.
According to a latest Reuters report published on Monday, co-founders Zak Folkman and Chase Herro have been removed as the “controlling parties” of the platform while new leadership remains undisclosed.
The report further revealed that the firm DT Marks DEFI LLC – an entity affiliated with Donald J. Trump and his family members – own approximately 60% of the equity interests in WLF Holdco LLC, which holds the only membership interest in World Liberty Financial Inc. The registered firm World Liberty Fi Inc is a Delaware non-stock corporation which is developing the WLF protocol and operates the WLF governance platform. Although ownership of the remaining 40% stake also remains undisclosed.
“Overall, the Trump family now has a claim on 75% of net revenues from token sales and 60% from World Liberty operations once the core business gets going,” says the Reuter report, adding “the arrangement means the Trump family is currently entitled to about $400 million in fees. After World Liberty’s co-founders take their cut, the crypto venture will be left with 5% of the $550 million raised to date to build the platform, according to Reuters calculations.”
Since its announcement in October, Donald Trump has been named World Liberty’s “chief crypto advocate,” while Eric and Donald Jr. have been designated as “Web3 ambassadors.” Eric Trump also serves as a board manager of WLF Holdco LLC meanwhile Donald Trump’s youngest Son Barron Trump was listed as the platform’s “chief DeFi visionary.”
Other key figures associated with World Liberty Fi include Zach Witkoff, son of former Trump Middle East envoy Steven Witkoff, and Rich Teo, co-founder of blockchain infrastructure firm Paxos.
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