The office of the US President, Donald Trump recently complained to his cabinet a few weeks ago, cost him a lot of money. He would lose between two and five billion dollars for his service to the fatherland. "I would have made a fortune from my business. I have a great company. I have the best properties."
As the "New York Times" now reports, his holding company, a conglomerate called "The Trump Organization", still generates substantial income from real estate. However, hotel sales have declined since Trump took office because the image of luxury resorts has suffered from that of the president.
For example, Trump's vacation home Mar-a-Lago showed a revenue decline of ten percent compared to 2017 in its 2018 financial report. But other businesses may make up for these losses. The New York Times writes that Trump's family owns shares in office buildings whose rental income has increased significantly in the past three years. This is also due to the fact that in these cases it is less known that Trump also earns money from it.
These include the addresses 1290 Avenue of the Americas in New York and 555 California Street in San Francisco, which are managed by a trust fund and are lucratively rented, according to the "New York Times". Income from the complex in San Francisco rose by almost 20 percent between 2016 and 2018.
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The US newspaper relies on annual reports of the trust fund and Trump's personal financial information. According to their evaluations, hotels make up around a quarter of the Trump Organization's revenue. A third come from golf courses and clubs like Mar-A-Lago in Florida. Another third came from office and commercial buildings such as that on the Avenue of the Americas in New York.
The Trump Organization's earnings - at least $ 572 million - remained stable in 2018, the newspaper reports. This was due to the fact that the income from office buildings increased by around $ 17 million, while hotels and the branding area posted a kink of a similar amount.
It's hard to check how much Trump and his holding company actually make. The Trump Organization does not publish any numbers, the president keeps his tax returns vehemently secret. The Democrats now want to enforce their disclosure in court.
