US President Donald Trump is indebted to U.S. and German lenders -- along with several others -- to the tune of $315.6 million as of mid-2017, according to information released on Friday by the Office of Government Ethics.
As reported by Reuters, the President made almost $20 million in Revenue from his new hotel. The Washington hotel was opened last September just a few miles from the White House. His Resort in Florida (Mar-a-Lago) also saw an increase in revenue during that same time period.
Trump's worth
Trump’s net worth was estimated at $1.4 billion, and his income for last year and first quarter of 2017 was approximately $594 million, the report stated.
The disclosure document published on the website of the ethics office indicates that the President’s liability stood at $130 million to Deutsche Bank Trust Company Americas. Trump had disclosed a liability to Deutsche of more than $50 million, which was in the Old Post Office, a property in Washington where he has established a hotel.
Trump's liability
President Trump disclosed a liability of about $110 million to Ladder Capital Corp, a real estate company with branches in Boca Raton, Florida, Los Angeles and New York
The highest part of Donald Trump’s revenue was $115.9 million recorded as golf-resort associated income from the Trump National Doral located in Miami. He reported $132 million revenue last year for the same listing.
His real estate management company of $18 million all most tripled. Income from Mar-a-Lago increased by almost 25 percent to the tune of $37.25 million. Revenue from several hotels and estates of the President are always steady.
He received an estimated $11 million from the Miss Universe beauty pageant by selling the beauty contest in 2015.
His income from television shows dropped from $6 million to about $1.1 million after one year.
Constant inflow of income
Trump’s net assets might exceed $1.4 billion due to the ranges of values in the disclosure form.The document released indicates that Trump held executive positions in 565 corporations or firms before becoming president of the United States.
In most of the corporations, his tenure ended the day before his inauguration, according to the report.
The majority of the companies were based in the U.S. with some located in Canada, Ireland, Scotland, Brazil, Bermuda and several other countries.
President Trump submitted federal forms listing his and his family’s assets, liabilities and income, but failed to submit his tax returns, which would have given a clearer picture of the President’s business connections and wealth, according to Reuters.
