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Trump's financial records outlined

19 May 2016, 10:01

Washington - The government on Wednesday released Donald Trump's personal financial documents filed with the Federal Election Commission, describing the billionaire's assets and revenues and his roles with hundreds of corporate shell companies.

Among the companies were ones that operate his golf courses, restaurants, wineries and Florida estate.

According to the presumptive Republican presidential candidate, revenue at his businesses grew by $190 million over the past 17 months, and he had $557 million in earned income. Revenues at many of his golf courses appear to be up.

The form provides little evidence that Trump's combative campaign has harmed his business prospects.

Though the disclosure overlaps with one he filed last year - making straight comparisons difficult - revenues at Trump's golf courses for the 17 months covered in the report generally rose. Most increases were modest, with the exception of Trump National Doral in Florida.

Since his last filing, Trump reported $82 million in additional revenue at that golf resort, which he values at more than $50 million. Last summer, Trump reported $49.4 million in golf resort revenues, but in his latest filing that number grew to $131.9 million.

The Mar-a-Lago club, a Trump vacation property and private club that has been a regular backdrop for campaign events, reported $29 million in revenues, far more than the $16 million reported in Trump's filing last year.

And the Miss Universe Pageant, which Trump sold after his comments on Mexican immigrants led to a dispute with television networks, went for $49 million. That was far more than the $5 million to $25 million the pageant was listed as worth on his financial disclosures from last year.

"Crippled America," his campaign book published last year, generated between $1 million and $5 million in income. The Trump Entrepreneur Initiative, which is the rebranded name of Trump University, a real estate seminar firm that has drawn multiple class action lawsuits and a suit by New York's attorney general, reported $13 000 in income.

The filing also discloses changes in Trump's role within his shell companies. Trump resigned from various entities doing business in potentially sensitive locations. Trump resigned from a company linked to a failed real estate project south of Tijuana, Mexico, as well as companies tied to deals in Dubai in the United Emirates, and Jeddah, Saudi Arabia.

- AP


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