New Disclosure States Trump Retains $1.4 Billion in Worldwide Assets

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His assets range from Pfizer stocks to a drinks company in Israel, but the disclosure also showed hundreds of millions of dollars in debt.

He had roughly US$20 million in income from his Washington hotel, which opened just down the street from the White House previous year. Revenues also increased at Mar-a-Lago, the Florida resort known as the "Winter White House".

USA president Donald Trump filed government financial disclosure forms late on Friday afternoon that show how widespread and complicated his financial holdings are, but do little to shed more light on his potential conflicts of interest. The report suggests that Trump's main source of income since the beginning of 2016 up until now arrived from his real estate empire. It is worth between $5 million and $25 million and produced more than $100,001 in income, the report shows.

"President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form", the White House press secretary's office said in an emailed statement.

Earlier this year, Trump had said that he sold all his stock holdings in June 2016 to avoid conflicts of interest and the form released on Friday appeared to confirm it.

In the release, Mr. Trump outlines the financial health of the business assets he placed into a trust when he took office. By law, Trump could have postponed releasing the 51-page disclosure document, the first he has filed as president, until 2018.

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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, nearly the same amount mentioned in the 2016 report.

The President is reportedly owing $310 million to various financial institutions.

It was a mixed year for President Donald Trump and his family - at least as far as their business goes.

Trump has made his wealth a key element of his political brand, and his refusal to relinquish ownership of his company has spurred ethics complaints and legal challenges.

Trump's refusal to divest his holdings before taking office have triggered a cascade of complaints related to the use of government resources to promote properties such as Mar-a-Lago, allegations that he is violating the Constitution's foreign emoluments clause and questions about how he is being used to promote the Trump Organization's projects overseas. It also doesn't address what he paid in taxes according to The Atlantic, as he still refuses to make his tax returns public.

The hotel is cited in three separate lawsuits arguing that Mr Trump is violating the US Constitution's "emoluments" clause, a ban on foreign gifts and payments. In the days leading up to and following the election, Trump dissolved 28 of his business entities and transferred his stake in his remaining companies to his children and a revocable trust from which he continues to draw income.

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