Hundreds of millions of dollars from hotels, golf courses and resorts, a vast property empire – and the Art of The Deal is making a fortune again: Trump officially declares his billions but NOT his taxes. (Dailymail Reported)
Two years to the day since he announced he was running for president, Trump voluntarily declares vast income – a total of $635,387,903 in just ONE YEAR!!!
He declared assets worth AT LEAST $2.27 BILLION – $2,279,040,000 and the figure could be higher as many are listed as more than $50 million.
Official declaration to the Office of Government Ethics did not have to be published until May 2018
98-page form shows how his hotels, resorts and golf clubs – including ones he has used since joining the White House – are making huge amounts of cash.
He quit 565 separate company appointments when he assumed office, many of them relating to business abroad.
Melania’s income was zero for the year declared but she has up to $5 million in New York real estate.
Trump declared borrowing in mortgages of at least $500 million on a series of properties – including two on Trump National Doral and two on Trump Park Avenue. He said his triplex penthouse at the top of Trump Tower was worth at least $50 million.
President Trump outlined his vast wealth in a 98-page official declaration published late Friday afternoon – presenting an eye-popping list of assets and income which makes him by far the wealthiest man in politics.
His income alone in the year to April 2017 was up to $635,387,903. And he declared assets which totalled at least $2,279,040,000 in value. Many were declared as above $50 million and the form has no requirement to be more precise.
But it said nothing about how much tax he paid, despite months of calls for him to come clean on how much – or little – he handed over to the IRS.
The official declaration reflects his income, assets and appointments up until April this year and was signed on June 14, 2017.
Trump had no legal reason to publish it, meaning the declaration was entirely voluntary. it was published two years to the day since he descended the elevator in his own Trump Tower and declared he was running for president.
At the time he was dismissed as having no chance of winning – and there were even claims it would cost him his entire fortune. The declaration makes clear that neither is true.
‘President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form; while this filing is voluntary (as no report was due until May 2018), it has been certified by the Office of Government Ethics pursuant to its normal procedures,’ the White House said in a statement.
His biggest single earner was the Trump National Doral golf course. Its income was $115 million – precisely $115,865,590.
Among the other highlights are that he received $19,66,129 from his Washington D.C. hotel.
The Old Post Office in the capital is at the center of a lawsuit brought by Democratic attorneys general who claim the money he receives from its breaches the emolument clause because some of it is income from foreign governments.
As of April 2017, Trump was also receiving millions from golf courses and resorts, including two of his favorite destinations in office.
That included $19,752,000 from Bedminster, New Jersey, where he has spent weekends in recent months. Last weekend he crashed a wedding there, to the delight of the bride and groom.
Mar-a-Lago, which was dubbed the winter White House after it became his regular weekend retreat before it closed for the summer in May, realized an income of $37,251,635, Trump declared.
The Trump national golf club in Los Angeles provided an income of $14.9 million from golf and $12 million from land sales.
In Florida Trump International at West Palm Beach made $18.4 million.
His Washington D.C. area club, which is at Potomac Falls in Virginia, made $17.5 million in golf-related revenue.
In New York City, his course in the Bronx had income of $7.3 million. And his club in Westchester, north of New York City, made income of $9.77 million.
Other ventures continued to make money. Among them were a series of ‘Trump Marks’ companies, which make money out of his name.
Trump Marks Mattresses made up to $1 million, Trump Marks Menswear also made up to $1 million, while Trump Marks Istanbul made up to $5 million. This is likely to be related to the Trump Towers in Turkey’s largest city.
His much-maligned restaurant in New York and other restaurants on Trump properties there reported $4.8 million in food and beverage related sales. The assets were valued at between $1 million and $5 million.
Trump Model Management, which closed in April, made income of $1.87 million in commissions.
Turnberry, in Scotland, netted him $14,487,619. He flew there the day after Britain voted to leave the European Union and hailed Brexit. His other Scottish course, near Aberdeen, made $3.8 million.
Doonbeg in Ireland, which he has not visited since launching his run for office two years ago to the day netted him $12,498, 178. He declared that its total value is over $50 million.
His home before moving to the White House, he said, is worth at least $50 million. Real estate experts have estimated that the gold and marble-lined triplex at the top of Trump Tower on New York’s 5th Avenue far exceeds that figure – but the ethics form has no requirement for a closer estimate.
Running for and being elected president has clearly been good for book sales.
Crippled America, his political ideas, recorded income of between $1m and $5 million.
But his greatest hits are also making money. His book The Art of The Deal, first published in 1987, is making between $100,000 and $1 million. At least one sale recently was its purchase by Dennis Rodman – who gave it to North Korea’s dictator Kim Jong Un.
So too is Time To Get Tough, published in 2011, and a more nakedly political work than Art of the Deal.
Other books appear not to have received a boost from his campaign, election or inauguration, with 2007’s Trump 101: The Way To Success, making less than $201, or as little as nothing.
Miss Universe made him $10,973,722 in ‘beauty pageant related revenue’.
No explanation is offered for where the money comes from. He had sold the Miss Universe Organization to the agency WME/IMG in September 2015, after it became a lightning rod of controversy. The declaration suggests he retains naming or worldwide rights to the pageant.
Other assets he lists include property in St. Martin and the West Indies with worth of up to $50 million. A detailed breakdown is not given but his beachfront estate on French St. Martin was put up for sale for a reputed $28 million in May.
Some of the items listed will prove galling to his opponents. The Screen Actors Guild, whose members are likely to be overwhelmingly liberal, paid him $84,292 in pension. This is likely to mostly come from his work on The Apprentice.
No income was declared from The Apprentice in the year, although the president retains an executive producer credit.
That is likely to reflect that it was aired from January 2017 until February 2017 so NBC may not yet have made payments on the back of the season, in which his place was taken by Arnold Schwarzenegger.
Trump’s list of banking assets shows that he has a Capital One checking and savings account as part of the Donald J Trump Revocable Trust, with a balance of more than $50 million. Like many bank customers he got nothing in interest from the account, or at most less than $201.
‘None (or less than $201)’ is the lowest income band he can declare.
Trump said, in December, that he had sold all his shares in June 2016. The form gives some idea of what he held.
He received up to $1 million for what appears to be selling shares in Apple and Microsoft. Apple’s CEO Tim Cook has advised Trump since he became president.
He had income of up to $50,000 from Caterpillar, Halliburton and Pepsico, suggesting those shares had been sold.
And a Deutsche brokerage account listed a vast range of holdings, including Google’s parents company Alphabet, Amazon, Comcast – the parent company of NBC, which he has called fake news – Costco, the discount retailer, manufacturing giants GE and General Motors, pharmaceutical company Pfizer, consumer goods giants Johnson & Johnson and Procter & Gamble, and even the Smucker jam company.
Health campaigners are unlikely to be impressed that he held Philip Morris tobacco shares, while the teetotal president holds Anheuser-Busch shares.
Trump declared borrowing in mortgages of at least $500 million on a series of properties – including two on Trump National Doral and two on the Trump Park Avenue company.
The mortgages he declared are only those for which he is personally liable. Any borrowing by any of his companies did not need to be declared if he is not the guarantor. The oldest mortgage was taken out in 1993 and appears to be either a property on his Mar-a-Lago club or neighboring it.
The document will be a gift to those calling for investigations into potential conflicts of interest.
It details every one of the directorships, chairmanships and company appointments which he resigned on the day before his inauguration.
Trump declared income from projects abroad in Canada, Scotland, India, China and the Middle East, but the word Russia appears nowhere on the form.
Trump declared that he had quit 565 separate positions in company appointments.
Many of them were abroad. One of them was in Jeddah, Saudi Arabia, the country where he was given a warm welcome in his first-ever foreign trip, the first leg of his trip to the Middle East and Europe in May.