teknolojiarsivi.com June 19, 2018

Trump's Washington hotel saw almost $20 million in revenue

22 June 2017, 08:19 | Stacy Allen

US #President Donald Trump is indebted to USA and German lenders - along with several others - to the tune of $315.6 million as of mid-2017, according to information released on Friday by the Office of Government Ethics. Revenues also increased at Mar-a-Lago, the Florida resort known as the "Winter White House". The report revealed that the president's net worth is at least $1.1 billion and that he owes $320 million to the banks.

The new details were included in a financial disclosure that Trump voluntarily submitted Friday to the Office of Government Ethics, the first snapshot of the Trump Organization's finances since its longtime leader became president.

Mr Trump opened the Trump International Hotel in Washington DC in September.

He reported liabilities of at least US$110 million to commercial real estate lender Ladder Capital Corp. Highest revenue from the Trump came from golf courses, such as the Trump National Doral in Miami, which however was reduced to $ 115.9 million from $ 132 million a year ago.

Income of at least $ 594 million in 2016 and early 2017 has been declared by US President Donald Trump, with assets totaling at least $ 1.4 billion.

His incomes from many other hotels remained unchanged.

He also earned $11m from the Miss Universe pageant, after selling the beauty contest in 2015.

While the president faces controversy over the broad pattern of his investments in the middle east (where he has done a lot of business with Saudi Arabia and the UAE, and none with Qatar, whom he has sided against), revenue from his worldwide operations - including residential buildings, golf courses and hotels in Latin America, Asia and the Middle East - did not change significantly in the a year ago. His earnings from Trump Corporation, his real estate management company, almost tripled to $ 18 million, while Mar-a-Lagos rose 25 percent to 37.25 million. The document covers January 2016 to April of this year.

Mr Trump has refused to release his tax returns, which would give a much clearer indication of his wealth and business interests.

Trump's management fees from Indonesian companies tied to two planned resorts there more than doubled.

His assets probably exceeded US$1.4 billion because the disclosure form provided ranges of values.

His tenure in most of those posts ended on January 19, the day before his inauguration and in others in 2015 and 2016.

Most of the entities involved are based in the United States, with a handful in Scotland, Ireland, Canada, Brazil, Bermuda and elsewhere.

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