Trump retains assets worth at least $1.4 billion
WashingtonPost, June 16, 2017
President Trump reported on a new financial disclosure that his far-flung real estate and hotel assets are worth at least $1.4 billion, a stark illustration of the complex financial interests he has maintained in the White House.
The report shows that he collected an influx of new revenue from recent foreign deals and a surge of business at his signature Mar-a-Lago property in Florida.
Trump has made his wealth a key element of his political brand, and his refusal to relinquish ownership of his company has spurred ethics complaints and legal challenges.
As a candidate, he claimed he was worth more than $10 billion, although his net worth is impossible to determine from his financial disclosures, and he has not provided independent evidence to back that up.
The report does not require officials to report their exact income, tax rate or charitable giving — unlike a tax return, which the president has refused to release, breaking with past tradition.
He did sell dozens of stocks he held in brokerage accounts, including shares in Amazon, Exxon Mobil, Goldman Sachs, Microsoft, Toyota and other companies. The stocks earned him millions of dollars in capital gains and dividends.
All of Trump’s business assets have been in a trust managed and controlled by his sons Donald Jr. and Eric, as well as longtime Trump Organization executive Allen Weisselberg. Trump is the beneficiary of the trust and is allowed to draw money from it at any time.
The new report shows that his holdings generated nearly $600 million in gross revenue between January 2016 and mid-April of this year, with substantial sums coming from properties outside the United States and hotels that he has spotlighted as president.
Trump reported income from the Tower in Kolkata, India, where he holds a licensing agreement with local developers. He said he received more than $100,001 from the deal.
Likewise, his new hotel-and-condominium tower in Vancouver, British Columbia, which opened in February, was a new source of cash: Trump reported that he earned more than $5 million from the project, which was developed by the son of one Malaysia’s richest men.
Trump’s luxury hotel near the White House, which held its grand opening in October, reported $19.6 million in hotel-related income.
And revenue at Trump’s Palm Beach club, Mar-a-Lago, climbed to $37.2 million during the 15½ month period covered by the report.
The new filing shows that Trump had at least $310 million in liabilities spread across 16 loans as of May 31, most of them mortgages.
The liabilities probably are much larger because five of the debts were worth more than $50 million. Documents for those individual loans suggest Trump actually has a minimum of $500 million in debt.
Trump’s refusal to divest his holdings before taking office have triggered a cascade of complaints related to the use of government resources to promote properties such as Mar-a-Lago, allegations that he is violating the Constitution’s foreign emoluments clause and questions about how he is being used to promote the Trump Organization’s projects abroad.
Earlier this week, the Democratic attorneys general in Maryland and the District as well as nearly 200 Democratic members of Congress filed separate lawsuits alleging that payments to Trump businesses violated the Constitution’s anti-corruption clauses.
Здешние политиканы, «эксперты», подконтрольные ЦРУ СМ»И» продолжают нахваливать псевдодемократическую Америку.
Те, кто любит «наших американских партнеров», «забывают» о грязных, злых уродах США. О таких монстрах, как коварный и крайне опасный мошенник, расист, лжец, и убийца Дональд Трамп. И о таких, как порочный Конгресс, фашистские ФБР и ЦРУ, лживые американские СМ”И”…
Кричите вместе: «АМЕРИКА ВЫШЕ ВСЕХ! AMERICA FIRST! НАШ ТРАМП!, НАШ ТРАМП!…”
Арнольд Локшин, политэмигрант из США