Home World Americas Trump personal liabilities at $315m, income crosses $594m

Trump personal liabilities at $315m, income crosses $594m

WASHINGTON

President Donald Trump had personal liabilities of at least $315.6 million to German, US and other lenders as of mid-2017, according to a federal financial disclosure form released late on Friday by the US Office of Government Ethics.

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. Revenues also increased at Mar-a-Lago, the Florida resort known as the ‘Winter White House’.

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

The 98-page disclosure document posted on the ethics office’s website showed liabilities for Trump of at least $130 million to Deutsche Bank Trust Company Americas, a unit of German-based Deutsche Bank AG.

For example, Trump disclosed a liability to Deutsche exceeding $50 million for the Old Post Office, a historic Washington property where he has opened a hotel.

Trump reported liabilities of at least $110 million to Ladder Capital Corp, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida.

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

Income from many of his other hotels and resorts largely held steady. Revenue from Trump Corporation, his real-estate management company, nearly tripled, to $18 million, and revenue from Mar-a-Lago grew by 25 per cent, to $37.25 million. The private club doubled its initiation fee to $200,000 after Trump’s election. He earned $11 million from the Miss Universe pageant, after selling the beauty contest back in 2015.

Revenue from TV shows like ‘The Apprentice’ fell to $1.1 million, down from $6 million a year earlier.

His assets probably exceeded $1.4 billion because the disclosure form provided ranges of values.

The document showed Trump held officer positions in 565 corporations or other entities before becoming US president.

Agencies