President Donald Trump's finances were revealed on Friday, including the millions he's earned from his various holdings. The 98-page document also listed his business assets that were placed in a trust when he was sworn into office. The information was made public by the Office of Government Ethics (OGE) and details Trump's finances from January 2016 through spring 2017.
Trump's financial disclosure isn't the same as releasing his tax returns, something he has yet to make public. All last year he refused to release his returns because he said the forms were under audit and it was his legal right to withhold the information until the process was complete.
Although the documents on Friday were made pubic, Donald Trump's tax returns would provide more information on the trust. The financial disclosure only provides a general overview of Trump's income and expenditures.
Income
Revenue from the president's golf courses, such as Trump National Doral in Miami, raked in nearly $16 million. When it comes to Mar-a-Lago, over $37 million in "resort related revenue" was generated, along with almost $20 million in "golf related revenue" from Trump National Golf Club in Bedminster, New Jersey. Additionally, the golf club in Potomac Falls, Virginia brought in $17.5 million in avenue. There was a $7.4 million increase in income from Mar-a-Lago compared to the year before; the golf course in Bedminster decreased by $600,000.
$19.6 million was declared in "hotel-related revenue" from the Washington, D.C. Trump International Hotel, a venue that's been debated for violating the emoluments clause. There's concern that the new hotel is a source that foreign governments can use to curry favor with U.S. officials by gifting or providing payments.
In the royalties section of Donald Trump's financial information, he revealed that between $1 million and $5 million had been generated from his book, "Crippled America" -- it was published in 2015 after he announced he was running for president.
His pension from the Screen Actors Guild showed an entry of $84,000 that's presumed to be from his hosting duties for "The Apprentice."
Debts
Regardless of the impressive numbers seen in Trump's financial documents, some liabilities are listed. The vast report shows that Trump resigned from more than 500 positions and listed $315 million in liabilities, including $80,000,000 and $175,000,000 in mortgage and loan debt from Deutsche Bank.
Trump voluntarily filed disclosure form
White House Press Secretary Sean Spicer said in a statement that Trump voluntarily filed his personal financial disclosure form, which isn't due until May 2018, and that it was certified by the OGE, "pursuant to its normal procedures."
