Soaring revenue at Mar-a-Lago shows how Trump’s business interests and politics intersect

(CNN) — As President Donald Trump’s wealth has soared since retaking office, a new financial disclosure shows his two premier Florida resorts have also delivered record-breaking surges in revenue – a potent illustration of how Trump’s personal business and presidential politics overlap.

Trump has visited the properties, Mar-a-Lago and Trump National Doral, more than two dozen times since the beginning of last year, hosting million-dollar-per-plate fundraising dinners, feting foreign dignitaries and welcoming GOP galas as industry leaders and political groups have scrambled to book their own events there as well.

Trump has also supercharged the money coming from Mar-a-Lago by raising the membership initiation fee to $1 million shortly before his reelection. The lavish resort is conducive to impromptu conversations with the president, who often dines on the patio at night, according to people familiar with the club.

Some ethics experts described the confluence of politics and profit as a blatant opportunity for special interests to get a direct line to Trump.

“People are going to Mar-a-Lago because they want proximity to the president,” said Robert Weissman, the co-president of Public Citizen, a consumer rights advocacy group. “A whisper in the president’s ear is worth an awful lot – more than what they’re paying to get in the door.”

Anna Kelly, a White House spokeswoman, said in a statement that “neither the President nor his family has ever engaged — or will ever engage — in conflicts of interest,” and added that “all actions by President Trump and his administration are taken in the best interest of the American people.” Trump pledged before retaking office not to involve himself in managing his namesake company, and placed his assets in a trust managed by his children, as they were during his first term.

Trump’s personal wealth has ballooned in office unlike any other president, the annual disclosure released Tuesday by the Office of Government Ethics showed. He significantly grew the income he received from his Florida properties, taking in nearly $77.5 million from Mar-a-Lago – more than 50% over what it earned him the previous year, and triple what he earned from the resort in 2020.

The disclosure also shows that the resorts are being eclipsed in the president’s portfolio by more than $1.4 billion in income from his lucrative new cryptocurrency ventures, including the $TRUMP memecoin and World Liberty Financial, a company co-founded by Trump’s sons.

In total, Trump reported almost three times as much in crypto income last year as he made from his empire of golf clubs, hotels and resorts.

Trump also reported nearly $60 million in income from licensing deals with foreign real estate firms to use the Trump name for hotels, golf courses, towers and other real estate developments in places such as Vietnam and India.

In comments to reporters on Wednesday, Trump attributed his windfall last year in part to a rising stock market that he suggested was good for many others as well.

“You know why I’m profiting? Because the stock market’s going up. Everybody’s profiting,” Trump said. He added that “I never speak to any of the people that run the money.”

While they’re not as crucial to his overall income as they once were, Mar-a-Lago and Trump National Doral both saw jumps in income compared to previous years.

During Trump’s first term, he reported taking in a consistent income of about $20 million to $25 million per year from Mar-a-Lago revenue. That jumped to about $50 million in 2024, and then $77.5 million in 2025.

At Doral, Trump took in around $75 million a year between 2017 and 2019, with that number falling to $44 million in 2020 amid the coronavirus pandemic. The club rebounded, with Trump reporting that he made $110 million in income from Doral in 2024 and about $122 million in 2025.

Part of the growth in revenue from Mar-a-Lago came from hikes in the fees to join the club. The cost was a mere $100,000 before Trump’s first election in 2016 – but after several increases over the years, it was hiked to $1 million in 2024, according to a person familiar with the matter.

Costs to visit other Trump properties have also increased, including at the Trump golf clubs in New Jersey and West Palm Beach that he frequently visits. Fees can stretch into the six-figures.

At Mar-a-Lago – which Trump has declared his own primary residence – the membership profile has changed in recent years, according to people familiar with the make-up of the club. There are more members who are seeking business ties to Trump or his administration, they said.

Since his return to the presidency, many of Trump’s properties have also become destinations for Republican fundraising events — often with the allure of a potential appearance by the commander-in-chief.

Dozens of federal political candidates and committees have reported making payments to Mar-a-Lago or Doral to host events there since Trump returned to office, according to Federal Election Commission data.

In 2025, Mar-a-Lago hosted multiple $1 million-per-person “candlelight dinners” for MAGA Inc., a super PAC supporting the president, drawing in major figures including Elon Musk. The club has also been the venue for multiple Republican National Committee fundraisers in the lead-up to this year’s midterm elections, including a gala in May 2025. In total, the RNC spent more than $1 million at Mar-a-Lago and Doral in 2025 and 2026.

Some companies with business before the federal government have hosted events there. XTI Aerospace, a company that is developing technology for vertical flight and won a few small federal contracts during the Biden administration, hosted a dinner at Mar-a-Lago in November 2025. The Financial Times reported that Pfizer’s top executive leadership team held an off-site meeting at the club in January 2025, just before Trump was sworn in for the second time. XTI and Pfizer did not respond to requests for comment Wednesday afternoon.

Trump has also used his clubs to promote his more lucrative new crypto ventures. The president hosted a gala at Mar-a-Lago for the top buyers of his $TRUMP memecoin in April 2026, where he gave a keynote address and attended a “champagne toast.”

Other groups that have held events at the club since his return to the White House include Catholics for Catholics, which has supported Republican politics.

Trump has hosted international leaders and other prominent politicians for dinners at Mar-a-Lago, including meetings with Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelensky in December. Trump’s cabinet members, including Secretary of Commerce Howard Lutnick and Treasury Secretary Scott Bessent, have also accompanied him to the resort, according to his public schedule.

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