New Disclosure States Trump Retains $1.4 Billion in Worldwide Assets – Vanity Fair
On Friday, the Office of Government Ethics posted a disclosure from Donald Trump stating that the President’s assets are worth around $1.4 billion from his various real estate ventures and foreign deals worldwide. It’s hard to tell, but this is not so different from the report he filed May of last year, which stated that he was worth $1.5 billion. He has still not released his tax returns.
According to The Washington Post’s run-down of the disclosure, Trump has sold stocks in a number of companies, including Amazon, Exxon Mobil, Goldman Sachs, Microsoft, and Toyota, which were earning him millions in capital gains and dividends. Among his new acquisitions since taking office are various luxury hotels recently opened in Kolkata, Vancouver, and Washington, D.C.
His sons Eric and Donald Jr. are in charge of the trust that holds all of Trump’s business assets, of which he is a beneficiary and can draw money from any time he wants. The report indicates he’s earned around $600 million between January 2016 and April 2017, with much of it coming in from foreign properties and hotels he’s spotlighted since taking office.
Trump has garnered criticism as President for his repeated refusals to divest his holdings, with many speculating that he‘s using his presidential cachet to promote his businesses worldwide and at home. Trump’s Winter White House Mar-a-Lago has proved to be a valuable investment, bringing in $37.2 million during the span of the report. On Wednesday the majority of the Democrats in the House of Representatives filed a lawsuit against Trump claiming that he has violated the Emoluments Clause of the Constitution, which forbids federal employees from accepting gifts from foreign governments. At the heart of their claim? The many luxury hotels, which numerous foreign governments have paid to spend a night in, that contribute to that $1.4 billion.