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Tuesday, May 18, 2021

Donald Trump 'made $1,600,000,000 while president'

Donald Trump 'made $1,600,000,000 while president'

Donald Trump made up to $1.6 billion during his four years as US president according to a government watchdog.

The Citizens for Responsibility and Ethics (CREW) say they have reviewed the former president’s financial disclosures and claim he disclosed at least $1,613,583,013 in revenue from the Trump Organization and other outside sources between 2016 and 2020.

The group say that while Mr Trump did donate his official salary, funded by US taxpayers, the revenue he earned during his presidency still proved to be lucrative.

CREW calculated that even after seeing a major drop-off in hospitality-related revenue in 2020 due to the coronavirus pandemic, Trump’s businesses still managed to rake in a ten-figure income.

At the high end, he disclosed $1,790,614,202, but CREW said the disclosure forms are vague with some assets listed as ‘Over $5,000,000’ in yearly income.

The structure of the Trump Organization businesses means that reported revenue does not necessarily reflect his personal income from them.

Outgoing US President Donald Trump waves as he boards Marine One and leaves the White House in Washington for the final time

Earlier this month a CREW investigation also found that Trump’s son-in-law, Jared Kushner, and his daughter, Ivanka Trump, reported between $172 million and $640 million in income between 2016 and the end of 2020.

A high percentage of the reported revenue came from Mr Trump’s most famous properties, Mar-a-Lago, The Trump International Hotel in Washington, DC, and his golf course at Doral in Florida, Bedminster in New Jersey, and Trump National in Virginia.

Combined, they reportedly brought in more than $620 million over the four years, despite a significant drop-off in revenue due to the Covid pandemic and its restrictions on travel and tourism.

The report comes a day after the US supreme court ordered Trump’s tax returns must be handed over to prosecutors in New York amid a criminal investigation into his financial dealings.

The landmark ruling means that a grand jury investigation into alleged hush money payments and other transactions will not be hampered by the former President’s attempts to keep his tax returns secret.


Quote of the Day

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.

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