Trump Reportedly Made $1.6 Billion While Being US President
Despite being one of the United States leaders who opted to forgo their presidential salary, Donald Trump is reported to have made $1.6 billion during his time in the White House.
The former POTUS famously donated his quarterly wage to various different government agencies, but the notion that he earned nothing during his time as president is entirely untrue.
During the four years he served as president, Trump earned as much as $1.6 billion, according to a report by Citizens for Responsibility and Ethics in Washington (CREW).
The organisation reviewed the 74-year-old’s financial disclosures and calculated that the Republican disclosed at least $1,613,583,013 in earnings from the Trump Organisation and other financial ventures.
At the higher end of the group’s calculations, Trump disclosed $1,790,614,202 in revenue, however the documents were vague when it came to particular assets, including one which allegedly had ‘over $5,000,000’ annual income.
When it comes to calculating Trump’s personal finances, it can be very confusing, as the revenues reported from the business doesn’t necessarily reflect the amount he has taken for himself, given that there are a number of other people involved in the businesses.
The majority of the revenue recorded came from some of Trump’s most high-profile assets, including The Trump International Hotel in Washington DC, his Palm Springs resort Mar-a-Lago, as well as his golf courses at Doral in Florida, Bedminster in New Jersey, and Trump National in Virginia.
Together, these assets brought in more than $620 million over the four years Trump was in office, however income did drop dramatically during the last year of his presidency, due to the impact the ongoing coronavirus pandemic had on tourism.
Following its investigation, CREW has argued that Trump directed much government business towards these assets and has hinted that it could impact his revenue streams now he is no longer in a position of power.
The report comes as the Supreme Court ruled that Trump would be forced to hand over his tax records to the Manhattan district attorney.
Trump’s team have been battling to keep the records private since October 2019, when Cyrus Vance Jr requested them as part of a criminal investigation.
The former POTUS has also been accused of paying no income tax for 10 of the last 15 years, paying just $750 in federal taxes for the year of 2017, according to a report in The New York Times. Trump denies the claims.
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CreditsCitizens for Responsibility Ethics in Washington
Citizens for Responsibility Ethics in Washington