Giovedi, 26 Aprile, 2018

Document says Trump hotel brought in nearly $20M

How to prepare for a day in Havana Document says Trump hotel brought in nearly $20M
Parmenio Sano | 18 Giugno, 2017, 04:06

That includes $19.8 million from his club in Bedminster, New Jersey, where he has spent some weekends as president. Documents released in April show that Trump is the beneficiary of the trust and is allowed to draw money from it at any time.

President Donald Trump's Washington hotel saw nearly $20 million in revenue during its first few months of operation.

The hotel opened its doors in September and since Election Day it has become a magnet for foreigners and lobbyists, with executives explicitly pitching the hotel as a smart place for foreign diplomats to hold events.

Another one of Trump's more controversial business ventures, the Old Post Office Building, earned him $19 million during the reporting period.

Almost $11 million came from the Miss Universe pageant and an $84,000 pension from the Screen Actors Guild.

Numerous figures are approximate totals, making it hard to calculate an exact financial picture of Trump's income. The documents make it impossible to calculate precise totals.

Donald Trump holds up his book 'The Art of the Deal, ' Nov. 21, 2015 in Birmingham, Ala.


The document also indicates that Trump terminated his positions at hundreds of Trump Organization entities as of January 19, 2017, the day before his inauguration, which he said he would do.

Trump reported liabilities of at least $110 million to Ladder Capital Corp, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida.

The liabilities probably are much larger because five of the debts were worth more than $50 million. Another three loans combined were worth less than $1 million. But he has submitted federal forms disclosing his and his family's income, assets and liabilities.

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. Tax experts say there's no law that would prevent releasing his returns, even while audits are pending.

It should be noted that this disclosure is voluntary in nature as pointed by Sean Spicer, the White House Press Secretary, in a statement.

Trump's business interests, which already have been the source of constitutional challenges and ethics complaints, are more complicated than any previous president and even with the disclosure offered Friday, the picture of his finances is far from complete. Instead, he transferred day-to-day management of most of the companies to his sons Eric and Donald Jr., who pledged they'd keep work and the White House separate.

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