Trump Owes at Least $315M to Lenders

President's federal financial disclosure form released Friday
By Michael Harthorne,  Newser Staff
Posted Jun 17, 2017 11:06 AM CDT

(Newser) – President Trump owes at least $315.6 million to various lenders—including at least $130 million to a division of Germany's Deutsche Bank and at least $110 million to a commercial real estate lender—according to a federal financial disclosure form released Friday by the US Office of Government Ethics. Reuters reports the form covers 2016 and the first few months of 2017. Trump reported income of at least $594 million—including about $20 million from his new hotel in DC—and assets worth at least $1.4 billion (and it's likely much more). The biggest chunk of his income came from his Trump National Doral golf resort in Miami. Here's what else you need to know about Trump's financial disclosure:

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  • The Los Angeles Times highlights how complex Trump's disclosure is: 98 pages listing 565 separate roles the president holds or held in LLCs, corporations, and more, along with hundreds of different income sources and assets. For comparison, President Obama's 2016 financial disclosure form was just eight pages.
  • The disclosure form is evidence Trump is "profiting off the presidency," according to ThinkProgress. Royalties for his books and profits at properties he frequently visits as president have skyrocketed. The Art of the Deal royalties increased from $100,000 to $1 million, and Mar-a-Lago alone has seen profits jump by millions.
  • But the New York Times reports not all of Trump's income sources have gotten a boost from the presidency. Revenue was down 12% at Trump National Doral—his biggest income source—and about 3% overall.
  • Deadline picks out how Trump is doing in show business, with the disclosure form showing more than $84,000 from his Screen Actors Guild pension, more than $1.1 million from Trump Productions, and nearly $11 million from Miss Universe.
  • And Forward explains one of the odder nuggets in the disclosure: kosher potato vodka sold in Israel for Passover.
  • Finally, Chris Cillizzza at CNN argues this doesn't mean we don't need to see Trump's tax returns. The financial disclosure form only gives a range for assets and liabilities—meaning it's hard to get an accurate idea of them—and doesn't include what Trump paid in taxes, his holdings in foreign companies, or what he donated to charity.
(Read more Donald Trump stories.)

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