President Trump likes to say he’s losing money by being president.
Given the torrent of cash flowing into his hotels from his reelection campaign and allied Republican campaign groups, it’s a lucrative business.
The Trump Organization has raked in a total of $6.9 million from the political groups in what amounts to a self-dealing scheme to use political donor cash to enrich himself, Forbes reported Tuesday.
Meanwhile, the president’s sprawling hotel and real estate has imported eight tons of furnishings from China in recent months even as Trump harshly attacks China for its trade practices.
There is nothing illegal about either practice, although the money pipeline spotlights Trump’s self-dealing and his focus on benefitting financially from his position.
On the cash windfall, Trump properties earned $2.4 million from the Republican National Committee, $2.3 million from political groups supporting Trump and $2.2 from his own 2020 reelection campaign.
A big chunk went to Trump Tower in New York, where the reelection campaign splurges about 35,000 a month for office space. More than $1.4 million went to the Doral golf resort near Miami, where Trump once hoped to hold the G7 Summit.
The GOP cash has helped the Trump Organization properties, stay above water during the coronavirus pandemic, which has crippled the travel and hospitality industry.
Trump refused to divest himself of ownership despite serving as president, unlike other chief executives.
As for trade deals, the Trump Organization may not have gotten the message about the president’s sharp criticism of China.
CNN reported that tables weighing 12,000 pounds were delivered last fall to Trump International Hotel in New York. Wood-and-glass cabinets that tipped the scales at 4,000 pounds were imported from Shanghai by the Trump National Golf Club Los Angeles this spring.
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