Trump 2017 finance report: Palm Beach County businesses earned $52M; Cohen payment disclosed


The Winter White House is pretty green for  President Donald Trump.

Mar-a-Lago, along with Trump’s two golf clubs in Palm Beach County earned income of $52.2 million in 2017, according to the president’s financial disclosure report released on Wednesday.

Mar-a-Lago, the president’s private club in Palm Beach, was the biggest earner, bringing in $25.1 million. Trump National Golf Club in Jupiter reported income of $14.2 million. Trump International Golf Club in suburban West Palm Beach, the president’s preferred course when visiting Mar-a-Lago, reported income of $12.8 million.

READ THE FULL REPORT

 

Two  other local Trump businesses, TW Venture I LLC and TNGC Jupiter Management LLC, brought in another $436,267. TW Venture I provides “transportation services,” according to the disclosure. TNGC - Trump National Golf Course - Jupiter Management, provides management services. 

Another Trump business, Trump National Doral - a golf resort in Miami-Dade County - far exceeded the Palm Beach County properties combined with an income of $74.7 million.

The figures are part of the 92-page report that covers the president’s finances during 2017. How his 2017 income compares to prior years isn’t known. Prior years’ reports, when Trump was a candidate, cover 16-month periods.

 

For the 16-month period between January 2016 and April 2017, for example, Trump National Golf Club in Jupiter reported $20.1 million in income and Trump International Golf Club in suburban West Palm Beach listed income of $18.4 million.

Mar-a-Lago reported $37.2 million in income for the same period. Over a similar 16-month period for the prior year, (January 2015 to April 2016) the club dubbed the Winter White House at the start of Trump’s presidency only brought in $29.7 million.

Although the reports cover different lengths of time, the pace of the 2017 earnings at Mar-a-Lago are more than $2.5 million less than those of 2016. 

Part of that decline is likely the result of event cancellations. Twenty-five charities canceled fundraisers at Mar-a-Lago following the president’s controversial remarks in the aftermath of the deadly violence at a neo-Nazi and white supremacist rally in Charlottesville, Va., in August 2017. 

Income from food and beverage sales have traditionally been the single biggest source  of  income at Mar-a-Lago, according to court records. 

The financial disclosure also revealed for the first time that Trump paid more than $100,000 to his personal attorney, Michael D. Cohen, as reimbursement for payment to a third-party.

 

The disclosure gave no details on why the payment was made. Cohen has said he paid $130,000 to an adult film actress, Stephanie Clifford, who has claimed she had an affair with Mr. Trump.

Cohen said he made the payment to keep the actress, also known as Stormy Daniels, from going public before the 2016 election with her story about her sexual encounter with Trump.

Because the financial disclosure reports are only meant to reveal possible conflicts of interests, filers are just  required to disclose ranges for their assets, up to $50 million. However, for some assets exact income figures are included. 

Among other interesting details in the report:

  • Capital gains from the president’s investments in Apple and Microsoft were each over $100,000. 
  • Mortgages from Deutsche Bank exceed $130 million, including $55 million in mortgages for the Doral resort that come due in 2023.
  • First Lady Melania Trump earned more than $100,000 in royalties from Getty Images, Inc., a stock photo agency. 


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