MSNBC star Joy-Ann Reid has said that Donald Trump could become a trillionaire before Elon Musk, thanks to the success of his meme coin attempt.
The far-left political commentator made the astonishing prediction about the incoming president just hours before Monday's inauguration ceremony.
“Trump could reach trillionaire status before Elon at this rate,” Reid, 56, wrote on Instagram alongside a video of two commentators talking about Trump on CNN.
The president-elect launched his cryptocurrency, called $TRUMP, on Friday, and it rose to $10.7 billion in market value ahead of Monday's ceremony.
In the video reposted by Reid, Washington Post columnist Catherine Rampell said that in addition to lining Trump's pockets, the new currency will also serve as a “convenient way” for foreign powers to make bribes.
“There will be a trusted source of individuals, companies and foreign governments who see this, and see buying these coins, these tokens, as a very convenient way to pay the president for favors,” Rampell told CNN in the clip .
“If you are the Saudi government, you no longer have to pretend that you are staying in a Trump hotel to give money to Donald Trump, to bribe Donald Trump, you can just show your digital wallet, and that will be enough .'
According to Forbes, Trump's net worth is currently approximately $6.1 billion.
MSNBC star Joy-Ann Reid (pictured) has said Donald Trump could become a trillionaire before Elon Musk, thanks to the success of his meme coin company
The progressive political commentator made the astonishing prediction about the incoming president just hours before his inauguration on Monday. (Image: Trump at a service at St John's Church on Monday ahead of his inauguration ceremony at noon)
His net worth skyrocketed from $2.5 billion to this eye-popping figure in just one year, thanks to his majority stake in Truth Social's parent company.
This means an increase in prosperity of 144 percent in just one year. One trillion is equal to a thousand billion.
An Oxfam report published on Inauguration Day predicted that there would be at least five trillionaires within the next decade.
The fortunes of 'billionaires' are growing at an unimaginable pace, Monday's report said.
'In 2024, billionaire wealth grew three times as fast as in 2023, and new data from Oxfam shows we can expect at least five trillionaires within a decade.
'Meanwhile, the number of people living in poverty remains virtually unchanged from 1990.'
Trump ally Musk is widely predicted to be the world's first trillionaire, possibly followed by Amazon founder Jeff Bezos and Meta boss Mark Zuckerberg.
The president's newly formed cabinet is the richest in the world, with a staggering net worth of nearly $500 billion.
Trump's cryptocurrency meme coin rose in value after its launch on Friday, but fell sharply after his wife Melania Trump launched her own coin.
The first lady announced her crypto token on Truth Social and
Despite this, Trump reposted both of Melania's announcements on his social media pages.
$MELANIA, like $TRUMP, is hosted on the Solana blockchain and can be purchased for around $0.09. Her token is much smaller than her husband's, with a market cap of almost $4.5 million versus Trump's $8.5 billion.
Pictured: Melania Trump and newly elected US President Donald Trump arrive for services at St. John's Church as part of the inauguration ceremonies on January 20, 2025 in Washington DC
Pictured: Trump speaks with Vice President-elect JD Vance and Usha Vance during a church service at St. John's Episcopal Church, Lafayette Square in Washington DC, January 20, 2025, as his wife Melania and son Barron sit in the front row to his left bank
Trump ally Musk is widely predicted to be the world's first trillionaire, possibly followed by Amazon founder Jeff Bezos and Meta boss Mark Zuckerberg
Trump inherited a significant amount of wealth from his father, who was a real estate developer and businessman.
His main sources of wealth are his real estate ventures, which include Trump hotels, casinos and golf courses, along with Trump-branded products.
Trump will take the presidential oath of office at noon on Monday, with the inauguration moved indoors from Washington DC due to an expected polar vortex in the capital.
The 78-year-old has already pledged to sign dozens of executive orders on his first day, after telling supporters he would work at “historic speed” to address “every crisis” in America.
His return to the Oval Office caps the most astonishing political comeback in modern history following his landslide victory over Kamala Harris in last November's presidential election.
The official farewell and ceremonial departure of President Joe Biden and Vice President Kamala Harris will take place after the inaugural address, before a presidential parade begins at 3 p.m.
Trump will also attend three inaugural balls: the Commander in Chief Ball, the Liberty Inaugural Ball and the Starlight Ball. He is expected to speak at all three events.
