Published: Mon, June 19, 2017
Worldwide | By Gretchen Simon

Trump's financial disclosure highlights significant income boost

Trump's disclosure reflected the apparent demise of his wife Melania's high-end skincare line, which included anti-aging products made with caviar.

He has at least 1.4 billion dollars (£1.1bn) in assets and reported at least 594 million (£468m) in income from January 2016 through this spring.

The range was between $50,000 and $100,000 in 2016, and between $15,000 and $50,000 in 2015.

Trump is facing increasing pressure related to the alleged Russian meddling in the U.S. presidential elections and suspected ties to the Republican campaign.

That's according to his latest financial disclosure released by the federal Office of Government Ethics Friday evening. In most of the corporations, his tenure ended the day before his inauguration, according to the report.

Before taking office in January, Mr Trump was a NY real estate developer and television celebrity.

The White House said in a statement that Trump "welcomed the opportunity" to file the form "voluntarily". He later said he did so because it was improper to own stocks "when I'm making deals for this country that maybe will affect one company positively and one company negatively".

Gunfire heard at Mali resort area popular with foreigners
Mali's security minister later issued a statement confirming at least two deaths, one of which was a dual French-Gabonese citizen. In March the same year, a grenade and gun attack on La Terrasse nightclub in Bamako killed five people, including foreigners.

"The Art of the Deal" brought in as much as $1 million for Trump, while his book "Crippled America" earned him another $5 million. The club generated $37 million during the reporting period, an increase from the $30 million that Trump reported previous year.

Revenue from Trump Corporation, his real-estate management company, almost tripled, to $18m, and revenue from Mar-a-Lago grew by 25 percent, to $37.25m. Trump is partnering with a billionaire Indonesian, Hary Tanoesoedibjo, on the two ventures. One is planned for the tourist island of Bali, the other near Jakarta.

Trump has frequently used Mar-a-Lago to mingle with friends and foreign guests after his presidency.

His golf club in Bedminster, New Jersey, on the other hand, produced nearly 20 million dollars in revenue, about what it had during the previous reporting period. For many of his properties, specifically golf courses and resorts, Trump lists revenue, rather than income, masking their profitability.

The documentation of revenue from each of those properties does not account for expenses, meaning those figures are not pure profit.

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 overseas. It's been a location for inaugural, foreign, diplomatic, and business interest events.

The disclosure form's Mar-A-Lago and Trump International Hotel segments will provide fuel for two states, Maryland and the District of Columbia, who have filed lawsuits claiming Mr Trump has violated the Emoluments Clause of the Constitution, which holds that a president should not receive compensation for services from a foreign actor, or foreign state.

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