Trump's Washington hotel saw almost $20 million in revenue
- Author: Bernice Underwood Jun 22, 2017,
Jun 22, 2017, 8:19
A 98-page financial disclosure report released by the White House has provided the first glimpse at how Donald Trump's private financial empire - or at last parts of it - fared during his campaign and early months in office.
The hotel opened just down the street from the White House last September.
The disclosure report shows Mr Trump and his related business entities reported revenue of at least $US597 million, down about 3% from the $US615 million in the period a year before.
The 98-page financial disclosure Trump voluntarily filed shows total income of at least $596.3 million previous year and in the first quarter of 2017.
Donald Trump also reported a debt of $ 110 million to Ladder Capital Corp, a real estate lending company with offices in New York, Los Angeles and Boca Raton. Trump listed the resort's income as about $37 million, up from about $30 million it had taken in prior to his May 2016 financial report. That's an increase of almost $8 million from the 2016 filing and roughly $22 million from the 2015 edition.
Income from many of his other hotels and resorts largely held steady.
The document showed Trump held officer positions in 565 corporations or other entities before becoming USA president. Its television revenue like The Apprentice dropped to $ 1.1 million from $ 6 million a year earlier. Although it is the most comprehensive report concerning Trump's financial status since being elected, the report does not accurately depict the volume of Trump's assets and loans and therefore, it is hard to gather from the report Trump's complete financial status. The club doubled its initiation fee after Trump's electoral victory in November, increasing the cost to $200,000.
His assets probably exceeded $1.4 billion because the disclosure form provides ranges of values.
The report also showed that Mr Trump earned more on royalties for his book Art of the Deal since becoming President.
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 were based in the United States, with a handful in Scotland, Ireland, Canada, Brazil, Bermuda and elsewhere.
Trump released a disclosure form in May 2016 that his campaign at the time said showed his net worth was $10 billion.
Before taking office in January, Mr Trump was a NY real estate developer and television celebrity.