Published: Sat, June 24, 2017
Worldwide | By Gretchen Simon

Trump makes disclosures on business assets


Mr Trump reported income of at least US$594 million for last year and early this year, and assets worth at least US$1.4 billion. Also, the income ascertained at his luxury Washington hotel through mid-April is United States dollars 19.7 million. His Mar-a-Lago resort in Florida made $37.2 million from January 2016 through this spring, an increase from the previous year's $29.8 million.

He earned US$11 million from the Miss Universe pageant, after selling the beauty contest back in 2015.

Latest disclosure puts his wealth at $1.4 billion and personal liabilities of at least $315.6 million to German, U.S. and other lenders as of mid-2017. The private club doubled its initiation fee to US$200,000 after Mr Trump's election. This doesn't count other profit powerhouses like the the Trump International Hotel in Washington, which brought in another $20 million. His mandate in majority ended on January 19, the day before his swearing in, and in others in 2015 and 2016. Because the ranges required for disclosure under federal ethics laws are so wide - Trump's disclosure lists five separate liabilities each at "over $50,000,000" - it is impossible to tell whether his debt load has changed appreciably. For many of Trump's properties, specifically golf courses and resorts, Trump lists revenue, rather than income, masking their profitability. His earnings from Trump Corporation, his real estate management company, almost tripled to $ 18 million, while Mar-a-Lagos rose 25 percent to 37.25 million.

The financial disclosure report further showed that Trump earned more on royalties for his book Art of the Deal since becoming president.

Donald Trump refuses to let go of the clearance of his tax statement, which would give a much clearer picture of his property and business interests.

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The majority of the companies were based in the USA with some located in Canada, Ireland, Scotland, Brazil, Bermuda and several other countries.

An Office of Government Ethics spokesman declined to comment on the contents of the report, other than to say that it was certified by the office, which is an ethics watchdog for federal government employees.

Mr Trump released a disclosure form in May 2016 that his campaign at the time said showed his net worth was US$10 billion.

Trump turned over the reins of his global real estate, property management and marketing empire to his two adult sons and a senior executive.

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