Trump reports over $594m as revenue

Financial form shows revenue up at Mar-a-Lago resort

Washington, June 17: 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-aLago resort in Florida made $37.2 million from January 2016 through this spring, an increase from the previous year's $29.8 million.

The new details were included in a financial disclosure that Mr Trump voluntarily submitted on Saturday to the Office of Government Ethics, the first snapshot of the Trump Organisation’s finances since its longtime leader became President. The report covers January 2016 through April 15, 2017.

When he took office in January, Mr 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 Mr 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.

He has at least $1.4 billion in assets and reported at least $594 million in income from January 2016 through this spring. The report also showed that Mr Trump earned more on royalties for his book Art of the Deal since becoming President. Last year, he reported earning $50,000$1,00,000. He’s earned between $1,00,000-$1 million in the latest filing.

He listed at least $315 million in liabilities. Mr Trump still owes more than $100 million to Deutsche Bank and a similar amount to a New York-based real estate investment trust.

— Agencies