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

Share

The 98-page financial disclosure Trump voluntarily filed shows total income of at least $596.3 million past year and in the first quarter of 2017. The U.S. Office of Government Ethics released filings on Friday that indicate frequenting his favorite hangouts has netted the President tens of millions of dollars, while the properties he owns but doesn't visit as often have had more modest incomes, or no boost at all over 2016 profits.

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.

President Donald Trump's real estate empire is making millions.

Before taking office in January, Trump was a NY real estate developer and television celebrity. He can take back control of the trust at any time, and he's free to withdraw cash from it as he pleases. He had roughly $20 million in income from his new marquee Washington hotel, which opened just down the street from the White House last September. That number is at least $300 million.

More news: Trump Administration Authorizes Short-Term Continuation of DACA Program

Mr Trump reported income of at least US$594 million for last year and early this year, and assets worth at least US$1.4 billion. They are less detailed than full tax returns, which Trump has refused to release, breaking with decades of tradition.

The latest report shows Trump resigned from more than 500 positions, stepping down from many on the day before his inauguration. The club doubled its initiation fee after Trump's electoral victory in November, increasing the cost to $200,000.

The hotel, featuring 263 rooms, BLT Prime by David Burke, Benjamin Bar & Lounge and The Spa by Ivanka Trump™, is cited in three separate lawsuits alleging that Trump is violating the Constitution's "emoluments" clause-a ban on foreign gifts and payments.

Share