New Disclosure States Trump Retains $1.4 Billion in Worldwide Assets

The number includes nearly $US20 million from Trump's Washington DC hotel, according to a 98-page financial-disclosure document released by the federal Office of Government Ethics Friday evening.

The 98-page document posted on the ethics office's website late on Friday showed liabilities for Mr Trump of at least US$130 million to Deutsche Bank Trust Company Americas, a unit of German-based Deutsche Bank.

Mar-a-Lago, where Trump has spent weekends during his presidency, generated $37 million during the reporting period, an increase from $30 million during a similar period, as reported past year.

One marquis property showing income gain is the Palm Beach resort called the Mar-A-Lago Club, which Trump calls his southern White House and it doubled its initiation fees to $200,000 in January, weeks before Trump took office.

The report shows Trump resigned from more than 500 positions, many of them a day before his inauguration as president.

On paper, at least, the billionaire president's finances don't appear to have been upended by the time-consuming campaign and transition to power.

The new filing shows that Trump had at least $310 million in liabilities spread across 16 loans as of May 31, majority mortgages, an amount similar to what he reported in his prior financial disclosure.

Trump also disclosed three checking and savings accounts holding a total of at least $US57 million.

Trump voluntarily filed the disclosure with the assistance of the Office of Government Ethics, following a practice of President Barack Obama. Trump listed the resort's income as about $37 million, up from about $30 million it had taken in before his 2016 financial report. After much back and forth with Trump's lawyers, the General Services Administration decided that Trump's financial rearrangement was sufficient and allowed him to keep his lease on the building, which has been converted into a hotel. Last year, he reported earning $50,000-$1,00,000.

Federal law did not require Trump to file a new financial disclosure until next year, said Ken Gross, a Washington lawyer who has advised business executives and political appointees on finances and ethics. A previous report listed royalties as being between $50,000 and $100,000. For many of Trump's properties, specifically his golf courses and resorts, Trump lists revenue, rather than income, masking their profitability.

Donald Trump also reported a debt of $ 110 million to Ladder Capital Corp, a real estate lending company with offices in New York, Los Angeles and Boca Raton.

Mr. Trump declared $19,666,129 in "hotel-related revenue" from the Washington, D.C. Trump International Hotel, which was opened in mid-September 2016. This doesn't count other profit powerhouses like the the Trump International Hotel in Washington, which brought in another $20 million.

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