President Donald Trump’s personal liability has been disclosed by the U.S. Office of Government Ethics through a 98-page federal financial disclosure form showing a debt of $315.6 million.
According to the disclosure, Trump’s highest level of indebtedness is $130 million owed to the Deutsche Bank Trust Company Americas, a unit of German-based Deutsche Bank AG, next is a real estate lender Ladder Capital, which he owes about $110 million.
The President’s Income Component
The report shows that revenue from Trump’s Mar-a-Lago Florida resort, that some call the “Winter White House,” increased to $37.25 million. His other businesses also recorded increases:
- Real-estate management company revenues increased to $18 million;
- New marquee Washington hotel, which is located on the same street as the White House, recorded income of $20 million.
- He also earned $11 million from the Miss Universe pageant from selling it, and
- He earned $1.1 million from the television show “The Apprentice.”
And it doesn’t end there. Trump’s book The Art of the Deal is making between $100,000 and $1 million more then what it was initially said to be worth. His largest income was $115.9 million traced to golf resort from Trump National Doral in Miami, Florida.
Trump Public Disclosure
Trump willingly filed his financial disclosure form but did not release his tax returns, which are very important in determining his net worth. According to a report from Office of the Government Ethics spokesman, the report was certified by the Office, but the content of the report was bot revealed.
He reported a liability of $50 million loans to Deutsche Bank Trust Company Americas and $110 million to Ladder Capital in that year.
A disclosure form was released in May 2016 showing his net worth to be $10 billion, which was believed to be doctored. It was also shown in the document that Trump, who was a New York real estate developer and television celebrity, held an officer position in 565 entities in United States, Scotland, Ireland, Canada, Brazil, Bermuda and others before he was elected President of the United States.
Trump claimed to have divested himself and turned over control of his companies to his children, but this hasn’t happened yet.
Not to mention his children are active members of Trump’s White House team, making Trump and his children in violation of a number of ethics laws, not to mention in violation of the Emoluments Clause of Constitution.
Unfortunately, Congress only seems to care about laws allegedly broken by Democrats. They consistence allow Trump to do whatever he pleases, and this needs to stop now.
Check out this Colbert segment explaining how the Trump’s tend to profit from his presidency: