Trump financial disclosures show Mar-a-Lago business boom » Manila Bulletin News

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By Associated Press

President Donald Trump’s Washington hotel saw almost $20 million in revenue during its first few months of operation — a period that coincided with his election and inauguration as the 45th president. His Mar-a-Lago resort in Florida, which he’s visited seven times as president, pulled in millions of dollars more than it had previously.

President Donald Trump (AP Photo/Andrew Harnik | Manila Bulletin)

The new details were included in a financial disclosure that Trump voluntarily submitted Friday to the Office of Government Ethics, the first snapshot of the Trump Organization’s finances since its longtime leader became president.

When he took office in January, Trump turned over the reins of his global real estate, property management and marketing empire to his two adult sons and a senior executive. But Trump did not divest, instead placing his enormous portfolio of financial assets in a trust controlled by the executive and Donald Trump Jr. He can take back control of the trust at any time, and he’s free to withdraw cash from it as he pleases.

On paper, at least, the billionaire president’s finances don’t appear to have been upended by the time-consuming campaign and transition to power.

He has at least $1.4 billion in assets and reported at least $594 million in income from January 2016 through this spring. Those top-line numbers were largely the same as he had reported in his previous filing, which included all of 2015 and part of 2016.

Mar-a-Lago, where Trump played host to several foreign dignitaries during his seven weekends there this winter, has improved its finances. Trump listed the resort’s income as about $37 million, up from about $30 million it had taken in prior to his 2016 financial report.

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