Trump’s Businesses See Major Spikes in Revenue

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In the months that Donald Trump has been in office, his Washington hotel saw almost $20 million in revenue. In addition to that, Trump’s Mar-a-Lago resort in Florida — which he has already visited seven times in his time as the 45th president of the United States — saw a large rise in revenue. The resort’s revenue was listed to be about $37 million, an increase from the $30 million from 2016.

Details of the finance of Trump’s businesses have been included in a disclosure Trump submitted on June 16 to the Office of Government Ethics. It marks the first financial report of the Trump Organization since Trump took over as president.

When he was inaugurated in January, Trump gave the responsibilities of running his business empire to his two sons, along with a senior executive. However, the businessman-turned-president did not divest. While he has put his financial assets into a trust currently controlled by the senior executive and Donald Trump Jr, Trump can regain control of the trust at any time, and can withdraw money from it whenever he wishes.

Based on current reports, it seems as if Trump’s finances have not been affected at all by his campaign and transition to presidency. His reported $1.4 billion in assets and $594 million in income from January 2016 to spring of 2017 is largely the same as previous filing from early 2015 to early 2016. In his latest report, Trump listed around $315 million in liabilities, same as the previous report. It also shows that Trump has stepped down from more than 500 positions., many of which was done the day before his inauguration. In addition, the report shows that Trump owes more than $100 million to Deutsche Bank (ETR:$DBK) as well as Ladder Capital Finance (NYSE:$LADR).

Trump’s financial disclosures have been of particular interest to the nation, as he has not made his tax returns public, as many presidential candidates and government officials have done previously. Tax returns tend to provide more detailed and accurate financial information than disclosure forms — which Trump submitted instead — when it comes to income, assets, and debts. It is unclear from the disclosure whether or not Trump has added on to his debts in order to pay for his presidential campaign. This is because disclosure reports are a lot more generalized — thanks to federal ethic laws, ranges for disclosures are quite wide. As a result, it is impossible to tell whether or not Trump’s debts have increased. It should be noted that Trump has put at least five different liabilities as “over $50,000,000” — a clear example of just how vague a disclosure report can be.

Other Business also Saw A Rise

Besides his Washington hotel and resort in Florida, some of Trump’s other business have garnered more venue than it had previously as well. His book, “The Art of the Deal”, have seemingly made a comeback. The autobiography, which was written in 1987, saw royalties between $100,000 and $1 million according to the latest report. In 2016, royalties was reported to be between $50,000 and $100,000 while in 2015 the royalties was reported to be between $15,000 to $50,000.

Management fees for two of Trump’s planned resorts have doubled from $167,000 in 2016 to about $380,000 in the latest report. The resorts are currently in development under a partnership with billionaire Indonesian Hary Tanoesoedibjo.

Trump’s Bedminster, New Jersey-based golf club on the other hand reported about a $20 million in revenue — around the same as the previous report. In addition, the Trump International Hotel has risen in popularity since it officially opened last fall. The hotel has become a common location for hosting foreign diplomatic or other business-related events — it even hosted Trump\s inauguration festivities. Since then, three separate lawsuits have been filed, claiming that Trump has violated the Constitution’s “emoluments” clause. The clause puts a ban on foreign gifts and payments. Both Trump and the Justice Department has said the claims are baseless, however.

Despite reports, Trump’s finances are still something to look into — especially those regarding his debts. It is also important to note that all the revenues/profits listed in the article above does not count for other expenses — meaning the numbers do not count as pure profit.

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About the author: Grace is currently studying at UBC to achieve her BA in Computer Science. She is due to graduate in 2020. As a content creator, Grace has written financial analysis, stock market news, and informational investing articles. She also worked as an editor with her university publication 'UBC Undergraduate Journal of Art History'.