Donald Trump releases financial disclosure about his business assets
- Author: Larry Hoffman Jun 23, 2017,
Jun 23, 2017, 20:57
The financial disclosure, which Trump voluntarily submitted to the Office of Government Ethics on Friday, showed that the businessman-turned-president had earned millions of dollars from the personal businesses he retired from upon taking office in January.
The form only requires assets held at the end of the reporting period to be disclosed and doesn't require documentation of any transactions, so we have no way of telling how much income Trump generated by divesting.
It was a mixed year for President Donald Trump and his family - at least as far as their business goes. The financial disclosure form shows how Trump left 555 corporate posts in the lead up to his inauguration.
To that point, a required foreign lobbying form filed by Saudi Arabia on May 31 shows the kingdom spent $270,000 on lodging and food at the Trump International Hotel between October 2016 and March 2017. It is the first snapshot of the Trump Organization's finances since he became president. The information released on Friday is as of April 15.
Mr. Trump also earned about $11 million from the Miss Universe pageant.
The disclosure document published on the website of the ethics office indicates that the President's liability stood at $130 million to Deutsche Bank Trust Company Americas.
According to Fortune, President Donald Trump's Washington hotel saw nearly $20 million in revenue during its first few months of operation-a period that coincided with his election and inauguration as the 45th president. The liabilities include debts on Trump properties such as Trump National Doral and 40 Wall Street. They are less detailed than full tax returns, which Trump has refused to release, breaking with decades of tradition.
President Donald Trump retains control of assets that as of April 15 were worth at least $1.4 billion and had generated almost $600 million in gross revenues in the previous 151/2 months, according to a new financial disclosure released Friday. The document shows Trump refinanced one $7 million loan previously held by UBS Group AG with Ladder Capital Finance LLC, a commercial mortgage lender that has been one of his preferred partners over the last five years.
Among the companies dissolved were a number of entities which appear to have been managing Trump's global business ventures in Saudi Arabia, Qatar, Puerto Rico and Argentina.
The financial disclosures released aren't as detailed as tax returns would be.
At his golf courses alone, Trump reported $288 million in income in the past year.
The document showed Trump held officer positions in 565 corporations or other entities before becoming United States president.