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📉 American Bitcoin Boosted Eric Trump's Wealth Amid Retail Losses
American Bitcoin went public on Nasdaq in September 2025 at $13.2 billion. Shares have since dropped 92%. Yet, Eric Trump's net worth rose from $190 million to $280 million without his own investment.
Forbes reports 70% of the company's bitcoins were bought via stock issuance, not mining. The firm acquired equipment backed by 3,090 BTC. Of $525 million spent on coins, losses hit $135 million.
Afterward, Eric Trump called Forbes a "political weapon" and "a disgrace to journalism."