A 98-page report has been released detailing the state of Trump’s personal finances over the last year. While the report shows that not all of Trump’s businesses have prospered in the last 12 months, many have, including his Mar-a-Lago resort, also known as the “Winter White House.”
Trump and his businesses reported revenue of nearly $598 million for the last year. His overall income has decreased by 3 percent since the year before, when he reported $615 million in revenue.
Mar-a-Lago, however, saw an increase in revenue of nearly $8 million — 25 percent more than last year. Meanwhile, Trump’s other Florida club — the Trump National Doral — saw its revenues decrease from $132 million to $115 million.
Although some of the revenue increase that Mar-a-Lago saw could be attributed to an increase in the amount a person must pay to be a member, it also doesn’t seem to be too much of a stretch to say that the increase might also have to do with the amount of time the president has spent there.
Since he was sworn in in January, only 148 days ago, Trump has spent 25 days at Mar-a-Lago, according to The New York Times. Now that Mar-a-Lago is closed for the summer, Trump has been spending more time at his Bedminster, New Jersey golf club. That particular club’s revenue has stayed about the same as previous years (nearly $20 million), but it might see a spike now that Trump is using it as a summer getaway.
Mar-a-Lago was not the only Trump business to see a boost in profits last year, either. His aircraft company, which was used to fly him all over the country during his campaign, saw its revenues double to $7.7 million. Meanwhile, his Washington D.C. hotel received almost $20 million in revenue during its first few months of operation, which just happened to coincide with Trump’s election and inauguration.
White House Press Secretary Sean Spicer said in a statement Friday night that President Trump “welcomed the opportunity” to file his financial disclosure form ahead of schedule.
‘President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form; while this filing is voluntary (as no report was due until May 2018), it has been certified by the Office of Government Ethics pursuant to its normal procedures.’
The release of the disclosure comes at a time when Trump is involved in multiple lawsuits accusing him of violating the Emoluments Clause of the Constitution by accepting payments to his businesses from foreign governments.
Although the financial disclosure is helpful, lawyers involved in the suits against Trump have said that it still leaves many questions unanswered. Maryland state Attorney General Brian E. Frosh, who sued Trump just this week, told The Times about the disclosure:
‘It just elevates questions. Just how much money is he getting from foreign sources, who is he getting it from and what impact does it have on his foreign policy and his actions as president?’
The Times also pointed out the fact that the financial disclosure doesn’t give the American people a complete view of the president’s financial situation since it is not as detailed as a tax return, which Trump has still vehemently refused to release.
Trump has claimed that nobody cares about his tax returns except the press, and he may have thought that the financial disclosure would provide sufficient information. That clearly is not the case, though.
Featured image via Joe Raedle/Getty Images.