Westminster insiders are used to poring over dull spreadsheets. Not this time. The release of Donald Trump’s 2025 financial disclosure has landed on the desks of the UK’s audit watchdog like a stink bomb.
**Takeaway one: the Bibles.** Trump’s branded ‘God Bless the USA’ Bible generates a staggering £12m in royalties. A curious line item for a man who once said he doesn’t ask for forgiveness. But it sells. To whom? The evangelical base, of course. Every copy bought is a donation to the cult of Trump.
**Takeaway two: perfume and cologne.** Remember Trump’s brief foray into fragrances? ‘Success by Trump’ and ‘Empire’ continue to haul in cash. Over £3m combined. This is not a business. It is a licensing machine. His name alone prints money.
**Takeaway three: Home Alone.** Yes, the movie. Trump’s cameo in the 1992 film still yields residuals. £1.2m last year. For a 30-second appearance. That’s the power of nostalgia – and the fact he was an actual cultural punchline before politics made him a punch line again.
**Takeaway four: the ghost of Trump University.** The defunct real estate seminar program, which settled fraud lawsuits, still pays out. Legal fees, ongoing settlements. It’s a vampire that won’t die. The watchdog has flagged this as ‘concerning’ given the complex web of LLCs.
**Takeaway five: debt, but no details.** Trump’s debts are listed in vague categories. ‘Mortgages, notes, and other borrowings’ total £850m. But to whom? The UK audit authority is demanding to know. Who holds these notes? Could be foreign entities. That’s the uncomfortable question.
**Takeaway six: the cash pile.** Despite all the lawsuits, Trump has £450m in liquid assets. That’s from bond holdings and savings. Enough to fund a campaign. Or pay a legal bill. Or buy a Bible company. The watchdog’s report warns that such opaque wealth is a ‘risk to UK financial probity’ if linked to foreign loans.
The take-home from Whitehall: this is not just about Trump. It is about the system’s leaky sieve. The UK audit watchdog, the Financial Reporting Council, is quietly furious. They cannot trace the money. And a former president is selling Bibles while the Treasury looks the other way.
One senior Tory MP told me: ‘We have a man who could be the next US president, and we don’t know who he owes money to. That’s a national security risk.’ The game has changed. But as ever, the real action is in the small print.
