July 2, 2018

Trump's unprecedented profits from his presidency

John Harwood, CNBC - In their recent financial disclosure forms, Donald Trump, Ivanka Trump and Jared Kushner reported more than $500 million in income.

That income came from their hotels, golf courses, clubs and merchandise sales. It came from long-established businesses and newly formed ones.

No modern president has profited this way during his time in office.

Predecessors like Ronald Reagan, Bill Clinton and George W. Bush put their assets in blind trusts to avoid conflicts between their financial interests and the public interest. Trump did not.

He announced in January 2017 that he would step away from his businesses by putting his sons Donald Jr. and Eric in charge of them. But he stepped away only from their management, not their profits.

As president, Trump has promoted those businesses with his presence relentlessly. During his first 514 days in office, he visited Trump properties on 159 of them.

At least two American embassies abroad have promoted Mar-a-Lago, the president’s private club, on their websites. A national park in Virginia has offered Trump wine for sale.

...Mar-a-Lago, which Trump calls the “Winter White House,” doubled its membership fee to $200,000. Trump International Hotel, whose managers market it as a destination for diplomats, raised room rates almost 60 percent.

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