Trump reveals income, debt in personal finances report
US President Donald Trump has released a new personal finances report, disclosing income as well as his liabilities in hundreds of companies.
The financial disclosure, which Trump voluntarily submitted to the Office of Government Ethics on Friday, showed that the businessman-turned-president had earned millions of dollars from the personal businesses he retired from upon taking office in January.
Since January 2016 through April this year, Trump claimed more than $37 million in income from Mar-a-Lago, the Palm Beach County resort in Florida he has described as his “Winter White House,” according to the 98-page document.
He had also banked $20 million in income from a nearby golf club he owns in Jupiter, Florida.
Trump has frequently used Mar-a-Lago to mingle with friends and foreign guests after his presidency. The property shows a major boost in income since the last financial disclosures with the US Federal Election Commission (FEC): $15 million in 2015 and $29 million in 2016.
Interestingly, the places that Trump had not spent much time in as president reported almost no changes in income.
For example, the president’s golf club in Bedminster, New Jersey, which he only visited for the first time in May, raked in $19.7 million, almost the same amount mentioned in the 2016 report.
Trump also earned $14 million and $12 million from his overseas golf courses in Turnberry, Scotland, and Doonbeg, Ireland respectively.
Meanwhile, the single largest source of income for the Manhattan billionaire was Trump National Doral Miami, a golf resort he purchased in 2012, which earned him $115 million. This was a decline from the $131 million highlighted in the last filing.
Trump’s royalties from his business-advice book The Art of the Deal have also increased dramatically, rising from between $50,000 and $100,000 in 2016 to the $100,000 to $1,000,000 range in the new report.
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The Republican president’s personal debts and liabilities remained at $315 million, about the same amount filed last year.
Trump has ignored calls to release his tax returns, falsely claiming that he cannot do so while under audit by the Internal Revenue Service (IRS).
US presidents are not required to release their tax returns but have done so voluntarily since the 1970s.
Critics across the US have raised questions about what Trump's tax returns say about his net worth and various business ties.
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