Justin Sun to attend Trump's exclusive dinner as top holder of $TRUMP memecoin
Justin Sun, the Chinese-born cryptocurrency entrepreneur, confirmed on Tuesday that he will attend United States President Donald Trump's exclusive gala dinner as the top holder of the $TRUMP memecoin.
In a post on X, Sun expressed gratitude for the invitation, stating he would join the event as Trump's "Top fan." The gathering is scheduled for May 22 at Trump National Golf Club in Potomac Falls, Virginia.
Justin Sun's social media post
The $TRUMP memecoin, launched by Trump in January, announced in April that the top 220 holders would be invited to the dinner, with the top 25 granted additional privileges: a private meeting with Trump before the event and a White House tour.
Since the list was released, there has been market speculation that the top holder listed as "Sun" is likely to be Justin Sun, a crypto magnate who is no stranger to high-profile events.
The official winners' list
In 2019, Sun made headlines when he won a charity lunch with Warren Buffett for US$4.57 million. In 2024, he paid US$6.2 million for Italian artist Maurizio Cattelan's provocative artwork "Comedian" – a fresh banana duct-taped to a wall. After that, he held a press conference and ate the banana in public, sparking heated discussions.
According to the list, Sun currently holds over 1.43 million $TRUMP, valued at approximately US$19.67 million based on the latest price.
To qualify for the top 25, holders needed an average of 170,000 tokens during the event period, while the 220th-ranked participant held just 4,196 tokens daily.
The $TRUMP token surged in value after the dinner was announced, but reports indicate many winners have since sold their holdings after the offer closed on May 12.
Justin Sun ate the banana artwork by Italian visual artist Maurizio Cattelan, which he had purchased for US$6.2 million at an auction.
This isn't Sun's first interaction with Trump. In 2023, he invested US$75 million in World Liberty Financial, a crypto project linked to the Trump family, also becoming an adviser. Reports suggest 75 percent of the project's token sales revenue goes to the Trump family, meaning they could indirectly earn up to US$56 million from Sun's investment.
According to Forbes, Sun's net worth stands at US$8.5 billion, ranking him 368th on the global rich list.
Since Trump returned to the presidential office this year, US enforcement agencies have suspended several lawsuits and investigations into crypto firms and figures, including Sun. In early 2023, the Securities and Exchange Commission under the previous Joe Biden administration sued Sun and his Tron Foundation for market manipulation and issuing unregistered securities.
