The UK Treasury has completed a risk audit of financial exposure to the Trump Organisation’s 2025 revenue streams, revealing six distinct categories that underscore the intersection of celebrity branding, retail monetisation and geopolitical uncertainty. The audit, conducted under the terms of the US-UK Bilateral Economic Security Accord, classifies each income source by its exposure to regulatory, reputational and market volatility.
First, the sale of Bibles. The Trump-endorsed “God Bless the USA” edition, priced at $59.99, generates royalties through a licensing agreement with a Nashville-based publisher. The Treasury notes that while religious publishing is historically recession-resistant, the product’s overt political branding introduces reputational risk in jurisdictions where the separation of faith and state is constitutionally protected. The UK’s exposure is minimal, but the audit flags potential import tariff disputes under World Trade Organisation rules.
Second, the Home Alone franchise. Trump’s cameo in the 1992 film “Home Alone 2: Lost in New York” continues to yield residual payments. The Treasury’s analysis shows that this income is classified as “legacy intellectual property” with no direct operational risk, but the recent polarisation of the film’s star, Macaulay Culkin, over political endorsements has prompted a reputational review. The UK’s position is neutral, but the audit warns that any future boycotts could affect distribution royalties.
Third, perfume. The Trump fragrance line, including “Empire” and “Success”, is distributed through a joint venture with a Swiss luxury conglomerate. The Treasury identifies this as a high-risk category due to the volatile nature of the luxury goods market and the brand’s contraction in European department stores. UK consumer protection laws on advertising claims of “presidential” quality have already triggered a separate review by the Advertising Standards Authority.
Fourth, digital assets. The Trump Organisation’s non-fungible token collection, featuring digital trading cards of the former president, generated $8.9 million in 2025. The Treasury classifies this as a speculative asset class with high volatility and limited liquidity, aligning with its broader stance on cryptocurrency regulation. The UK Financial Conduct Authority has not yet approved these tokens for retail investors.
Fifth, hospitality and licensing. Revenue from the Trump International Hotel in Washington D.C. and the Mar-a-Lago club in Florida are classified as operational real estate income. The Treasury audit focuses on the potential for renewed ethics investigations into foreign government patronage, a concern that has led to the UK’s financial intelligence unit monitoring these transactions under anti-money laundering protocols.
Finally, media appearances. Fees for speaking engagements and television interviews are categorised as “personal services income”. The audit notes that this stream is the most susceptible to political events, with the 2024 presidential election cycle likely to inflate demand. The Treasury recommends that UK-based entities structure any contracts to include clauses on political neutrality to mitigate reputational contagion.
The audit concludes that the UK’s direct financial exposure to Trump-related assets is less than 0.02 per cent of the national balance sheet, but the indirect risks through shared banking and insurance partners are more significant. The Treasury has advised British financial institutions to conduct their own due diligence on any Trump-linked counterparties, particularly those involved in the perfume and digital asset categories. The full report has been circulated to the Financial Conduct Authority and the Bank of England for review.
