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

According to Fortune, President Donald Trump's Washington hotel saw nearly $20 million in revenue during its first few months of operation-a period that coincided with his election and inauguration as the 45th president.

And his Florida resort, which he's visited seven times as president, pulled in millions of dollars more than it had previously.

"President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form", the White House said in a statement, adding that the form was "certified by the Office of Government Ethics pursuant to its normal procedures".

When he took office in January, Trump turned over the reins of his global real estate, property management and marketing empire to his two adult sons and a senior executive. However, the president did not place the assets into a blind trust or divest from his business interests, a move that many ethics experts had deemed necessary for the president to avoid conflicts of interests.

Mr Trump reported income of at least US$594 million for 2016 and early 2017 and assets worth at least US$1.4 billion.

Trump has also seen a massive increase in income from book royalties since he began campaigning in mid-2015. Its television revenue like The Apprentice dropped to $ 1.1 million from $ 6 million a year earlier.

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Latest disclosure puts his wealth at $1.4 billion and personal liabilities of at least $315.6 million to German, U.S. and other lenders as of mid-2017.

Mr Trump reported liabilities of at least US$110 million to Ladder Capital Corp, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida. The club doubled its initiation fee after Trump's electoral victory in November, increasing the cost to $200,000. It also doesn't address what he paid in taxes according to The Atlantic, as he still refuses to make his tax returns public.

Mar-a-Lago, where Trump played host to several foreign dignitaries during his seven weekends there this winter, has improved its finances. Trump recently began decamping to that property some weekends.

As the AMPA notes, Trump has had $ 20 million in revenue from his new hotel in Washington, which opened very close to the White House in September.

The largest component of Mr Trump's income was US$115.9 million listed as golf-resort related revenues from Trump National Doral in Miami, down from US$132 million he reported a year ago.

(Copyright © 2015. All Rights Reserved.)
 
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