Venerdì, 18 Agosto, 2017

Donald Trump owes $ 315 million to banks

Parmenio Sano | 19 Giugno, 2017, 05:03

According to a Bloomberg report, President Donald Trump's first financial disclosure since taking office reveals that his hotel in Washington, D.C.

He also reported United States dollars 37.2 million in income in the past year from Mar-a-Lago, the private Florida resort where he hosted the president of China and ordered missile strikes against Syria.

Today, the U.S. Office of Government Ethics has followed suit and released a 98-page document detailing the president's financial holdings, income and liabilities from the preceding 16 months.

The document shows Trump held officer positions in 565 corporations or other entities before becoming USA president.

Trump turned over the reins of his global real estate, property management and marketing empire to his two adult sons and a senior executive. He can take back control of the trust at any time.

The Trump International Hotel in Washington, which opened in September, listed hotel-related revenue of $US19.7 million, according to the form. It generated $US37 million during the reporting period, an increase from the $US30 million that Trump reported past year.

Trump reported $37.2 million in income in the past year from Mar-a-Lago, the private Florida resort where the President hosted his Chinese counterpart Xi Jinping.


The president reported up to $7 million in book royalties, including $1 million to $5 million from his book "Great Again: How to Fix Our Crippled America". In total, Trump reported about $315 million in liabilities, around the same as a year ago.

The 98-page disclosure document, posted on the ethics office's website, is nowhere almost as detailed as the tax records that Trump has thus far refused to publish despite a long-standing tradition among American heads of state.

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". However, a spokesman said in December that Trump had liquidated his entire stock portfolio in June 2016, around the time he began pouring millions into his presidential campaign. For many of Trump's properties, specifically his golf courses and resorts, Trump lists revenue, rather than income, masking their profitability. Trump is partnering with a billionaire Indonesian, Hary Tanoesoedibjo, on the two ventures. Revenues also increased at Mar-a-Lago, the Florida resort known as the "Winter White House". That includes $19.8 million from his club in Bedminster, New Jersey, where he has spent some weekends as president.

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

The hotel, featuring 263 rooms, BLT Prime by David Burke, Benjamin Bar & Lounge and The Spa by Ivanka Trump™, is cited in three separate lawsuits alleging that Trump is violating the Constitution's "emoluments" clause-a ban on foreign gifts and payments.

Mr Trump and the Justice Department have called those claims baseless.

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