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Friday, June 16, 2017

disclosure shows $594m income in 2016-17

afr NEWS Donald Trump's 98 page financial disclosure shows $594m income in 2016-17 facebook email twitter June 17 2017 - 12:19PM President Donald Trump had personal liabilities of at least $US315.6 million ($415.5 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 $US20 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." Donald Trump has released his financial disclosure statement which shows personal liabilities of at least $US315.6 million. Donald Trump has released his financial disclosure statement which shows personal liabilities of at least $US315.6 million. Photo: AP Trump reported income of at least $US594 million for 2016 and early 2017 and assets worth at least $US1.4 billion. The 98-page disclosure document posted on the ethics office's website showed liabilities for Trump of at least $US130 million to Deutsche Bank Trust Company Americas, a unit of German-based Deutsche Bank. Donald Trump earned roughly $US20 million in income from his new marquee Washington hotel which opened during the ... Donald Trump earned roughly $US20 million in income from his new marquee Washington hotel which opened during the election campaign in September 2016. Photo: Beth J. Harpaz For example, Trump disclosed a liability to Deutsche exceeding $US50 million for the Old Post Office, a historic Washington property where he has opened a hotel. Trump reported liabilities of at least $US110 million to Ladder Capital, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida. The largest component of Trump's income was $US115.9 million listed as golf-resort related revenues from Trump National Doral in Miami, down from $US132 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 $US18 million, and revenue from Mar-a-Lago grew by 25 per cent, to $US37.25 million. The private club doubled its initiation fee to US$200,000 after Trump's election. Revenue from Mar-a-Lago grew by 25 per cent, to $US37.25 million. The private club doubled its initiation fee to ... Revenue from Mar-a-Lago grew by 25 per cent, to $US37.25 million. The private club doubled its initiation fee to US$200,000 after Trump's election. Photo: Alex Brandon He earned $US11 million from the Miss Universe pageant, after selling the beauty contest back in 2015. Revenue from television shows like "The Apprentice" fell to $US1.1 million, down from $US6 million a year earlier. His assets probably exceeded $US1.4 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. His tenure in most of those posts ended on January 19, the day before his inauguration, and in others in 2015 and 2016. Most of the entities involved were based in the United States, with a handful in Scotland, Ireland, Canada, Brazil, Bermuda and elsewhere. Trump has refused to release his tax returns, which would give a much clearer indication of his wealth and business interests. But he has submitted federal forms disclosing his and his family's income, assets and liabilities. "President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form," the White House said in a statement, adding that the form was "certified by the Office of Government Ethics pursuant to its normal procedures." An Office of Government Ethics spokesman declined to comment on the contents of the report, other than to say it was certified by the office, which is an ethics watchdog for federal government employees. Trump released a disclosure form in May 2016 that his campaign at the time said showed his net worth was $US10 billion. Some critics disputed that figure as overblown.

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