Trump's Financial Disclosure Reveals $2.2 Billion Income, India Connection

US President Donald Trump’s latest annual financial disclosure, which shows more than $2.2 billion in income from cryptocurrency, real estate, licensing and investments, has a surprising India connection. The filing includes several India-linked entities, trademark registrations and licensing deals that continue to generate millions of dollars for the Trump Organization, showing that India remains one of its key overseas real estate markets. The disclosure filed with the US Office of Government Ethics shows India is among Trump’s strongest international real estate licensing markets. Unlike properties that the Trump Organization directly owns in the US, the Indian business largely operates through licensing agreements, where local developers pay to use the Trump name on premium residential and commercial projects. The filing shows that these arrangements generated roughly $8.5 million in licensing income during 2025, making India one of the more significant international contributors to Trump’s traditional real estate business. The biggest contribution came from Gurugram, where Trump-branded luxury residential projects developed by M3M Group in partnership with Tribeca Developers generated the highest licence fees. According to the disclosure, DT Marks Gurgaon 69 LLC reported licence fee income of $3.64 million, DT Marks Gurgaon LLC generated another $1.79 million. The two entities brought in more than $5.4 million, making Gurugram the largest India-based revenue source in Trump’s international licensing portfolio. The India footprint extends well beyond Haryana. The disclosure lists Trump-linked licensing entities connected to Mumbai, Hyderabad, Noida, Pune and Kolkata, indicating that the Trump Organization continues to maintain commercial relationships across several Indian cities through branded real estate projects. While some entities reported licence fees, others carried values described as “not readily ascertainable” or reflected only underlying licensing agreements and bank account values. The filing also records around $1.5 million in licence fee income from the Trump-branded project in Noida. The Trump-branded office project in Pune reported a licence fee of about $1.5 million. In Hyderabad, a Trump-linked entity generated another $1.5 million in licence fees. The filing also shows Trump continued to earn more than $180,000 in licence fees from the Trump Tower luxury residential project in Worli, Mumbai, developed by Lodha. Several other entities linked to Mumbai and Kolkata appear in the disclosure, although they reported minimal, non-reportable or “not readily ascertainable” values rather than significant licence income for the year. Much of the attention surrounding Trump’s latest financial disclosure has centred on the billions generated through cryptocurrency ventures. However, the filing also shows that traditional businesses remain a major pillar of his wealth.