Trump: Donald Trump details $1 billion profit from NFTs, hotel sales in new disclosure

[ad_1]

WASHINGTON: Former President Donald Trump has provided more details on his vast financial empire, including his crypto wallet, speaking fees and the proceeds he received from the sale of his Washington, DC, hotel to a revised form of financial disclosure. In the disclosure, filed with the Office of Government Ethics, Trump was required to provide exact totals for the more than $1 billion in income he earned from various endeavors that he previously disclosed only in broad amounts. . In an earlier disclosure, filed with the Federal Election Commission in April, Trump as a candidate was allowed to provide amounts in a wide range for several types of income, including dividends, capital gains, interest, rent and royalties. Other types of income, including salaries and speaking fees, must be disclosed in exact amounts. Trump listed income from his Dubai golf course as between $1 million and $5 million in his original filing. But the OGE filing specifies that he made $1,166,357 for managing that property. Similarly, he reported $284.5 million in income earned from Trump Old Post Office LLC, which owns his hotel in Washington. That includes income from the operations of the properties until he sells his interest and the proceeds of that sale, which also includes furniture and building materials. That’s a big increase from the previous filing, which said he took in more than $5 million in hotel revenue. Trump’s wealth and celebrity from his international real estate empire to his star turn on The Apprentice have raised questions about the intersection of his presidency and business interests. The new filings show that Trump, two years out of office, has largely used his political career for financial gain, benefiting from millions in speaking fees and business ventures that made possible by his large following of supporters. The report provides the most detail to date of Trumps finances after his time in the White House and as he enters what is likely to be a bruising presidential primary. Democrats have attacked Trump for failing to recuse himself from his business dealings while president, but his main Republican opponents are not inclined to question the sources of his income. In the new disclosure, Trump provided more details on CIC Digital LLC, the company that receives licensing fees for the use of Trumps likeness in nonfungible tokens. It owns a US bank account with a balance of less than $1,000 and an Ethereum wallet that holds between $250,000 and $500,000. Another entity showed $5.8 million in royalties and $12.6 million in payments for speaking engagements, including $1.4 million for a live tour in Florida and Texas with former Fox News host Bill OReilly in December 2021. Trump values ​​his 90% stake in his social media company, Trump Media and Technology Group, at $5 million to $25 million. The new filing pulls back the curtain on some of the company’s revenue streams: A little more than $1 million in advertising revenue from Rumble, a conservative live-streaming site that also hosts the company’s Truth Social platform, and $233,786 from ad platform RevContent. Trump also assigned $2.1 million of his speaking fees as income to the media company. The filing reveals the speaking income earned by Melania Trump: a $250,000 speech to Log Cabin Republicans, and another $250,000 from Fix California, an election integrity group led by Ric Grenell, Trumps former acting director of national intelligence. The former first lady made $155,000 for a December 2021 speech in Palm Beach for a Trump-allied political action committee called Make America Great Again, Again. FEC records do not show payments of that amount from the super PAC to entities tied to Melania Trump, though the payment may have been made through another vendor. The amended filing shows that Trump paid off additional debt from Deutsche Bank AG that was not included in his original filing. He retired with a mortgage of between $25 million and $50 million on his Trump National Doral resort.

[ad_2]