Donald Trump declares his assets for $1.4 billion

For the first time since arriving at the White House, President Donald Trump publicly, but incompletely, revealed the state of his finances in 2016.

Donald Trump declares assets

The mogul declared assets of $1.4 billion and debts to several financial institutions for about $310 million, issued by the Government Ethics (PGE) office made public on Friday at the last hour, and that also details an income of 596.3 million dollars for the president during the last year.

The document is not a tax return, something that the president has refused to publish, despite being a tradition of several decades among those who aspire to the presidency.

The information available reveals that Trump owns a conglomerate of 565 companies. The president resigned most of his leadership positions on January 19, the day before his inauguration. According to documents provided by Trump, the president has made a profit of almost $20 million with the operation of the Trump Hotel in Washington, inaugurated last October.

The Mar-a-Lago resort in Florida also reported benefits, although the data does not require the amount. The turnover of the resort almost doubled, to $37 million, in the 15-month review period over the previous 18 months.

The figures show that Trump has been able to increase the performance of his businesses, especially his hotels and golf clubs, thanks to his increased fame during the presidential campaign and the subsequent exercise of power. The paper avoids pointing out key data such as how much tax Trump paid or the total value of his assets, which Fortune magazine ever estimated to be no more than $4 billion.

Trump handed over his business to his sons Donald Jr. and Eric. However, the Government Ethics Office believes that this step has not been enough.

The documents voluntarily submitted by Trump are far from being as accurate as a tax return, which the president continues to refuse to make public. In the United States, it was customary for presidents and presidential candidates to submit details of their tax documents.

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