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Document says Trump hotel brought in nearly $20M

Document says Trump hotel brought in nearly $20M

According to the filings, the Trump International Hotel - the downtown D.C. property Trump leases from the federal government that's located just blocks from the White House - has also generated almost $20 million in profits for the president this year.

President Trump reported an income of United States dollars 288 million from his golf courses alone in the past year, including USD 19.8 million from his club in Bedminster, New Jersey.

Instead, his two adult sons - Don Jr. and Eric - took control of their father's global business empire shortly before he took office. The report revealed that the president's net worth is at least $1.1 billion and that he owes $320 million to the banks. It generated $37 million during the reporting period, an increase from the $30 million that Trump reported a year ago. The report includes lists of positions held outside the government, assets, and ranges of income and outstanding liabilities, among other details.

Trump reported liabilities of at least $110 million to Ladder Capital Corp, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida. His tenure in most of those posts ended on Jan 19, the day before his inauguration, and in others in 2015 and 2016.

Trump filed the new financial disclosure Friday with the Office of Government Ethics.

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Some of Trump's ventures appear to be making more money than they had a year earlier. However, a Trump spokesman said in December that he had liquidated his entire stock portfolio in June 2016, around the time he began pouring millions into his presidential campaign.

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The president reported up to $7 million in book royalties, including $1 million to $5 million from his book "Great Again: How to Fix Our Crippled America". The club doubled its initiation fee after Trump's electoral victory in November, increasing the cost to $200,000.

The hotel is housed in the government-owned Old Post Office building, and many have argued payments from foreign governments violate anti-corruption clauses in the Constitution. It's been a location for inaugural, foreign, diplomatic, and business interest events. Among his new acquisitions since taking office are various luxury hotels recently opened in Kolkata, Vancouver, and Washington, D.C. President Trump and the Justice Department have called those claims baseless.

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