Eric Trump publicly criticized Forbes on April 28, 2026, accusing the publication of acting as a politically motivated outlet while defending his bitcoin venture, American Bitcoin, against a newly published report examining the company’s performance and business model.
In a post shared on X, Eric Trump wrote, “Since being acquired by China, @Forbes has become a political weapon and an embarrassment to journalism.” His remarks were in direct response to a Forbes article published earlier the same day that scrutinized both his personal financial gains and the operations of his company, American Bitcoin. Trump framed the report as part of a broader pattern, stating, “This narrative … does not read as journalism… it reads as politically motivated propaganda.”
The Forbes article, authored by Dan Alexander, presented a critical analysis of American Bitcoin, describing it as “an arbitrage vehicle that preys on MAGA-minded investors.” It detailed the company’s rapid rise following its Nasdaq debut and questioned the sustainability of its business model. The report noted that while the company amassed significant bitcoin holdings and achieved a high valuation, its stock price had declined sharply, with investors collectively losing substantial sums. It also highlighted the company’s lean staffing structure and reliance on external partnerships, raising questions about how it operates at scale.
Eric Trump, however, emphasized the company’s growth metrics and operational scale in his response. He wrote that “just over a year ago, American Bitcoin did not exist,” adding that within months the company went public and now holds “over 7,000 Bitcoin” while ranking as the “16th largest publicly traded Bitcoin company in the world.” He pointed to infrastructure capacity, including “nearly 90,000 miners” and “28 exahash of capacity,” as well as financial performance, stating that the company reported “$78.3 million in Q4 revenue” and achieved “22% quarter-over-quarter growth.”
The Forbes report contrasted those claims with its own analysis of the company’s finances, arguing that the cost structure of mining bitcoin—when factoring in equipment, depreciation, and overhead—may exceed the value of the cryptocurrency being produced. It further alleged that a large portion of the company’s bitcoin holdings came not from mining but from selling shares and purchasing bitcoin on the open market, characterizing the strategy as “hype-fueled arbitrage.” The article also reported that while insiders, including Eric Trump, increased their personal wealth, everyday investors experienced significant losses.
In his post, Trump also referenced prior coverage by Forbes related to his charitable work, particularly his involvement with St. Jude Children’s Hospital. He wrote that the outlet had spent “years attacking me for simply being a young kid who poured his heart and soul… into saving dying children,” calling the criticism “insane.” The Forbes article revisited those earlier controversies, citing financial records and reporting that questioned how funds from his foundation were allocated.
Closing his remarks, Eric Trump urged readers to question the credibility of the publication, writing, “Friends – educate yourselves as to the source of your information — in this case, China!” The exchange underscores an ongoing dispute between Trump and Forbes, with both sides presenting sharply different interpretations of the company’s performance and the motivations behind the coverage.