No, Trump didn’t make $50 billion from his memecoin

Citation Needed argues that media reports of Donald Trump's memecoin making him worth $50 billion rely on flawed math, since "fully diluted valuation" multiplies the current token price by the maximum supply that may ever exist. The author notes that estimates for the $TRUMP token ranged from about $20 billion to $70 billion across newspapers, and that Axios and the New York Times were cited, with the Times putting the figure at $30 billion. Using the article's example, $TRUMP traded around $53 with 200 million tokens in circulation, a market cap of about $10.7 billion, while 1 billion tokens are set to be released over three years.