Fidelity bank banner Bayelsa State banner
Trump owes banks $315m

By News Express on 17/06/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 846

•U.S. President Donald Trump.
•U.S. President Donald Trump.

U.S. President Donald Trump’s net worth initially put at $10 billion during his campaign for White House was overblown.

Fresh disclosure put his wealth at $1.4 billion and personal liabilities of at least $315.6 million to German, U.S. and other lenders as of mid-2017.

Insight into his financial position was contained in a federal financial disclosure form released late on Friday by the U.S. Office of Government Ethics.

According to Reuters, Trump 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 percent, 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 television 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 U.S. president. His tenure in most of those posts ended on Jan. 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 that 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 $10 billion. Some critics disputed that figure as overblown.

Before taking office in January, Trump was a New York real estate developer and television celebrity. (NAN)

Source News Express

Posted 17/06/2017 12:14:47 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
75 illegal immigrants arrested in Abia

Court rules today on fresh suit seeking Obiano’s...

British boxer dies after winning heavyweight fight

Panama Papers: Protesters demand resignation of British Prime...

FG, ASUU to renegotiate 2009 Agreement

Dogara tasks Nigerian parents on godly upbringing of...

Anambra Central Senatorial Re-run: I will beat Umeh...

Patience Oniha succeeds Abraham Nwankwo as DMO Director-General...

PDP mocks Buhari, APC for wooing its members...

FG reassures on the rescue of Chibok girls...

Nollywood legend Pete Edochie threatens to curse those...

FG deceives Nigerians, approves importation of Genetically Modified...

 

Latest News Next President: The right man for the job, By Chima Nwafo Hate Speech Bill: Issues and worries, By Jerome-Mario Utomi 18-year-old boy rapes 7 Ekiti Varsity students Communications Minister, Adebayo Shittu, in certificate scandal Lawyer ambushes Python Dance 3 in court •Sues Buhari, Buratai, Malami, others Buhari, governors may clash with Tinubu over Ambode Oshiomhole, APC bow to governors, make U-turn on indirect primaries Delta establishes 6 IDP camps •To forward 2019 budget proposals to DTHA soon Southern, Northern leaders express fears over 2019 polls Plateau women protest half naked over military action Businessman sentenced 140 years for forging foreign cheques Stella Oduah dumps APGA, announces return to PDP

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (395,131 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,079 views) Shameless Genevieve Nnaji exposes breasts in public (307,683 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,148 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (231,661 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,340 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (199,563 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,195 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,272 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,143 views) Lagos plane crash: Journalist releases victims’ names (157,833 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,652 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (62) Business & Economy (3,613) Business Verdict (52) Columnists (932) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,415) Interview (164) Live Commentary (28) Love Matters (143) News (39,022) Opinion (1,109) Pidgin (11) Politics (6,664) Religion (869) Sports (1,697) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement