Trump made $1.6bn while president, report says

Donald Trump made as much as $1.6bn during his four years as president according to a report by Citizens for Responsibility and Ethics in Washington

0
296

Large portion of income came from Trump-branded properties at which president spends time

Donald Trump made as much as $1.6bn during his four years as president according to a report by Citizens for Responsibility and Ethics in Washington (CREW).

Having reviewed the former president’s financial disclosures, the group claims that while Mr Trump took credit for donating his official salary, funded by US taxpayers, that was a tiny fraction of the revenue earned through Trump businesses during his presidency.

CREW calculates that even after seeing a major drop-off in hospitality-related revenue in 2020 due to the coronavirus pandemic, in total Mr Trump disclosed at least $1,613,583,013 in revenue from the Trump Organization and other outside income.

At the high end, he disclosed $1,790,614,202, but the disclosure forms are vague with some assets listed as “Over $5,000,000” in yearly income.

The structure of Trump Organization businesses means that reported revenue does not necessarily reflect his personal income from them.

A large portion of the revenue came from the more famous properties owned by the group at which Mr Trump was often seen during his presidency — Mar-a-Lago, The Trump International Hotel in Washington, DC, and his golf course at Doral in Florida, Bedminster in New Jersey, and Trump National in Virginia.

Combined, they reportedly brought in more than $620m in four years, with revenue dropping off significantly once Covid-19 restrictions depressed travel and tourism.

Please enter your email addressPlease enter a valid email addressPlease enter a valid email addressSIGN UPI would like to be emailed about offers, events and updates from The Independent.Read our privacy noticePromoted storiesYour gas burner clean in 1 minute? This is how you do it!HOUSE TRICKSby TaboolaSponsored Links

CREW argues that much of this income came from those wishing to curry favour with the president paying a premium to stay at properties branded in his name They also say that government business was directed their way and question what the future holds now that revenue stream has disappeared.

The report by CREW comes as the Supreme Court handed down a decision that will force Mr Trump to hand over his tax returns to prosecutors in New York.

LEAVE A REPLY

Please enter your comment!
Please enter your name here