It seems strange when billionaires don't pay their lenders when they have the money to do so, and low-income people are struggling to pay their lenders when they don't have the money to do so. The personal assets and liabilities of President Donald Trump were released on Saturday, June 17, showing that he owes his lenders $315.6 million.
Disclosure form
A 98-page document from the United States Office of Government Ethics shows Trump's assets and liabilities. As a comparison, former President Obama's disclosure document was only eight pages.
Trump's disclosure shows that his net worth is $1.4 billion.
It would be more if he had not declined the $400,000 presidential yearly salary. He earned $594 million in 2016, which included $20 million from his latest project -- the old Post Office that was turned into the Trump hotel, located in Washington, D.C. near the White House. Trump's largest amount of revenue was the $115.9 million that came from Trump National Doral in Miami.
The disclosure form also shows the president's lenders, including those in Germany, the United States, and other places. He owes at least $130 million to Deutsche Bank Trust Company Americas. It also shows that he owes at least $110 million to Ladder Capital, a commercial real estate lender.
Refuses to release tax returns
Trump's tax returns will show more detailed information, but he still refuses to release them.
However, he has submitted federal forms disclosing his and his family's income, assets, and liabilities. Trump's financial disclosure form only gives a range of his assets and liabilities. The form does not show what his tax returns would, such as the amount of taxes he paid, holdings in foreign companies, and his charitable contributions.
Profits from being president
Trump has profited from being president. His disclosure form shows that royalties from his books and profits from his properties have skyrocketed. Royalties from all of his books are up to $7 million, and "The Art of the Deal" increased from $100,000 to $1 million. His Mar-a-Lago profits have increased by millions.
The disclosure form shows what Trump has made from his entertainment business ventures as well. He made more than $84,000 from his Screen Actors Guild pension, more than $1.1 million from Trump Productions, and nearly $11 million from the Miss Universe pageant.
The report also shows that not all of Trump's businesses have benefited from his presidency. Revenue is down 3 percent overall and 12 percent from Trump's biggest source of income, Trump National Doral.
