Eric Trump Becomes Billionaire as American Bitcoin Doubles Nasdaq Debut

Eric Trump has rapidly become a paper multi-billionaire following the Nasdaq debut of American Bitcoin, a cryptocurrency mining company he co-founded with his brother Donald Trump Jr. Their combined stake in the company, which began trading under the ticker 'ABTC' in September 2025, is valued between $548 million and $3.2 billion depending on the valuation method, with shares doubling in early trading before settling up 16.5%. American Bitcoin, formed through a merger with Canadian miner Hut 8, operates mining facilities in Texas, Alberta, and New York, holding thousands of Bitcoin, though much of its stockpile is pledged as collateral. The company has launched a $2.1 billion stock offering to fund further Bitcoin acquisitions and mining technology upgrades. Eric Trump has positioned the venture as a major growth opportunity, predicting Bitcoin could reach $1 million, and highlights that crypto now comprises a substantial part of the Trump family’s expanding wealth portfolio, which also includes other crypto initiatives like World Liberty Financial. While critics note the Trump family's crypto successes coincide with regulatory easing under President Donald Trump's administration, Eric Trump has stated the president is not involved in these business ventures.