Donald Trump’s most recent financial declaration, discloses an income of €467 million ($513 million) deriving chiefly from US residential properties and resorts such as his Doral, Mar-a-Lago and Bedminster establishments, alongside colossal debts and liabilities linked to his legal predicaments.
These figures are sourced from a considerable 265-page document submitted by the GOP nominee, which outlines a widespread portfolio encompassing everything from his primary dwelling, crypto-based earnings, to returns from his media corporation that outrightly owns his Truth Social network.
One of his primary sources of revenue was a Miami-based firm involved in golf courses and a resort. This firm accrued $161 million from January 2023 spanning 16 months. His Mar-a-Lago Palm Beach, Florida, establishment churned out $57 million within the identical timespan. The Trump Ruffin Tower situated near Las Vegas generated $28 million via sales of condominiums and linked hotel income. His Bedminster club, located in New Jersey, produced $37 million.
On his financial declaration, Mr Trump evaluated each of his four assets to be worth upwards of $50 million, reflecting the uppermost limit that can be ascribed to assets by candidates. Certain income types including dividends, royalties, and capital gains are disclosed within broad parameters. However, specifics such as salaries and speaking fees are mirrored in their precise figures.
For the former president, his stakes in the Trump Media & Technology Group, estimated to be around $2.7 billion, account for more than half his net worth of $5.3 billion according to the Bloomberg Billionaires Index. These were also labelled as upwards of $50 million in his financial declaration. This included 114.8 million shares owned by Trump, covering approximately 64.9 per cent of those that were released. These shares were subject to a “lock-up period”, prohibiting Trump from selling them, due to expire in September. The firm reported $5.3 million in enterprise revenue and approximately $563,000 from advertising.
The past President’s company, CIC Digital LLC, made a handsome £5.2 million through nonfungible token image licencing, retaining an Ethereum crypto wallet worth a minimum of £720,000. The high-ups in the industry, such as venture capitalists Marc Andreessen and Ben Horowitz, have shown him support due to their animosity towards the Biden administration.
Trump garnered another £3.8 million from book sales, with £216,000 coming from a Greenwood Bible endorsement with LMA Productions.
The first two financial disclosures Trump filed as a presidential prospect for the 2024 election with the Office of Government Ethics had to be adjusted, including specific figures for his income from his other ventures besides hotels. The revised disclosure will also undergo an ethical review. Trump asked for and was granted a pair of 45-day extensions to the original deadline of 15th May.
Trump listed twelve ongoing liabilities. Among them were two £36 million debts incurred in 2024 in connection with a civil fraud case brought against him by the New York attorney general. Trump obtained a bond worth £126.5 million from Los Angeles’ Knight Specialty Insurance Co in April to temporarily suspend the £327.7 million judgement against him in this case, while he lodges an appeal.
He also disclosed an over £36 million obligation to author E Jean Carroll, who had been granted £60 million in a defamation lawsuit against him, which is currently secured with a bond whilst Trump attempts to challenge it in court.
Despite accumulating legal costs being covered by his PAC funds, the disclosure didn’t mention any personal legal debts. Seven ongoing loans summing up to at least £119 million were listed, with two being cleared within the reporting period.
While Trump’s various enterprises are a substantial source of income that could be invested in his campaign, he seems to rely on his ability to fundraise. He has collected around £458 million for his third attempt to win the Presidency, lower than the £720 million raised by Vice President Kamala Harris and President Joe Biden. Since January 2023, Trump’s PAC has dispensed more than £48.37 million for legal expenses and similar costs. – Bloomberg