, 12 tweets, 8 min read Read on Twitter
@realDonaldTrump’s latest financial disclosure report has a bunch of interesting figures (almost all conflating gross revenue with net profit) but one “inactive” hotel deal through T Express LLC clearly started after he entered office, in 2017:
Noteworthy: 5x increase in @Trump’s online retail business, through TrumpStore.com which @propublica wrote about last year: propublica.org/article/a-guid…
It also looks like @Trump took a dormant company they created in 2009, Trump Development Services LLC, and are now using it for management fees, as of last year. They reported a decent amount of $$: $848K.
@realDonaldTrump is starting to diversify his accounts for the Donald J. Trump Revocable Trust. He’s put between $15M and $75M in 3 new accounts, at Professional Bank, Signature Bank and Bank United. Pretty bad returns, based on what’s reported:
For the first time, President Trump had to separately report out real estate transactions from the previous year. He reported 9 such deals, including a land deal in the Dominican Republic and sales of inherited residential and commercial real estate holdings in Brooklyn:
Trump first funded a Capital One checking and savings account, through his trust, in April 2017, a few months after his inauguration. It had more than $50M last year. Now it’s between $25M and $50M.
Two final takeaways: 1. Since April 2017, President Trump has put between $40M and $125M into bank accounts with profits from the Donald J. Trump Revocable Trust. That’s money he’s made from his businesses while serving as president. Lot of caveats w/ that but still a lot of $$.
2. Trump reported $22.7M in resort-related revenue from Mar-a-Lago. But we don’t know how much of this money has come from the fed gov’t (aka taxpayers), foreign governments or those seeking to influence the @WhiteHouse. We may never know: propublica.org/article/trump-…
Post script: Trump reported $8.5M in revenue from @nycgov’s Wollman Rink, down from $9.2M the year before. A few years back, we did analysis of his expenses and leases there and found @Trump spends roughly $6.5M annually on overhead: propublica.org/article/trump-…
That means that @Trump brought home, at most, roughly $2M from running Wollman Rink, not the $8.5M he’s reporting. As @Fahrenthold & @OConnellPostbiz note here, it’s impossible to say if Trump Organization made money or lost it: washingtonpost.com/politics/reven…
The same is true for his Bronx golf course, Ferry Point, where he has another @nycgov contract. @Trump’s own projections for expenses were $4M a year. It’s been pulling in roughly $6.5M a year for the past 2 years, leaving a profit of perhaps $2.5M.
Point being: President Trump likely isn’t seeing anywhere close to $453M in income each year. That big revenue figure + his margins means he’s making far far less.
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