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Trump's financial disclosures give glimpse into business

Credit: Reuters - Business (Amazon FireT
Published on May 16, 2019 - Duration: 01:20s

Trump's financial disclosures give glimpse into business

U.S. President Donald Trump's financial disclosures revealed a dropoff in revenue at his Mar-a-Lago resort and modest gains at his Trump International Hotel in Washington.

Vanessa Johnston reports.

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Trump's financial disclosures give glimpse into business

It's a rare look inside the closely-guarded finances of President Donald Trump's real estate empire… ...and they are not the blockbuster numbers Trump might prefer... In a disclosure released Thursday… the U.S. Office of Government Ethics reported Trump suffered a dropoff in revenues last year at his Florida resort Mar-a-Lago - where business fell by $2 million compared to 2017 - Trump's biggest moneymaker..

His Doral golf course and club in Miami… pulled in $76 million up about a million from the year before.

And blocks from the White House...his Trump International Hotel...saw only modest gains…bringing in $40.8 million - up less than half a million from the previous year… Thursday's financial disclosures - mandated by law - also showed Trump was carrying debt of at least $315 million… Trump has taken heat during his presidency - including lawsuits- for retaining ownership of those properties - critics saying it mixes personal and public business…allowing him to profit from the presidency.

Trump has also refused to release his tax returns - unlike other modern presidents - leaving it unclear just how much he rakes in personally each year… The New York Times last week reported Trump had lost over a billion dollars in a ten year span in the 1980s and 90s….more than any other individual taxpayer… The White House declined to comment on the latest filings.

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