Trump’s businesses bring in $1.9bn in revenue during first three years of presidency, report reveals
Donald Trump’s businesses have brought in $1.9bn in revenue over the first three years the president was in office, according to Forbes.
The president agreed when he took office that he would not take a salary for the position and would also not be actively involved in his business. But Mr Trump has still profited the last three years through his company’s many ventures, as he held onto ownership of his assets while moving into the White House.
Documents obtained by Forbes’ Dan Alexander, whose upcoming book White House, Inc. further details Mr Trump’s profitable businesses, came from sources like private lenders, local governments, federal officials and overseas regulators. Together, these documents gave insight into just how much the Trump business has profited from 2017 to 2019 and what areas excelled the most.
Mr Trump’s golf courses and clubs brought in the most revenue for the president over the last three year, raking in a total of $753M. The Trump National Doral golf resort in Miami, Florida, was the most lucrative out of all the golf courses, bringing in $228m in revenue from 2017 to 2019.
Mar-a-Lago, where the president often travels to when leaving the White House, brought in $69m between 2017 to 2019.
This comes as the president has visited his Trump-owned golf courses and clubs more than 295 times since entering the White House. Mr Trump has also used taxpayer dollars to pay for rooms for members of his staff and Secret Service at clubs like Mar-a-Lago when staying there, sparking criticism for how the presidency has boosted his profits.
Mr Trump’s golf courses and clubs actually were not the most profitable for the president despite them bring in most revenue, according to Forbes.
In 2017 and 2018, the Trump National Doral golf resort was the only one of four golf courses in the United States that turned a profit for the president. Although it boasted $75.4m in revenue in 2017, only $4.3m of that turned a profit. His other US-based golf courses recorded negative profit margins.
None of the president’s three European properties have recorded an annual profit.
Commercial real estate ventures brought in the second-most revenue for the president but the most profit, making them far more lucrative than the Trump golf courses and clubs. These ventures, most of which are located in New York City, reportedly brought in $576m in revenue and made $313m in profit for Mr Trump.
Forbes noted that while concern has risen about how much Mr Trump’s promotion of his golf club and courses increased his bottom line, people renting out spaces in his commercial properties actually have the largest influence.
Mr Trump also earned an $60m profit in licensing, management, and hotel businesses, and $12m from other owned properties – such as a skating rink in New York City’s Central Park and Trump Restaurants LLC.
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