This Week in Conflicts: Trump’s Latest Financial Disclosure Statement Released, NYC Mayor Threatens to Fine Trump Org. and Occupancy Rates at Trump Tower
This week, President Donald Trump’s latest financial disclosure statement was released, New York City’s mayor is threatening to fine the Trump Organization if the company does not reduce emissions from its buildings and occupancy rates are down at Trump Tower in New York.
Trump’s Latest Financial Disclosure Statement Released
President Trump still has not released his tax returns but his latest financial disclosure statement provides a look into his businesses.
As USA TODAY reports, “Trump reported income in the hundreds of millions of dollars in 2018 from businesses and other assets, with wide ranges of revenues from each one …The form also listed liabilities that included mortgages and loans, again within wide ranges. For example, Trump listed a 30-year loan of between $5 million and $25 million from a bank in Florida, at an annual interest rate of 4.5%, for a property near his Mar-a-Lago resort in Palm Beach, Fla.”
Based on the report, the Center for Responsive Politics estimates President Trump earned about $461 million in income last year, down from $486 million in 2017.
The disclosure report is required to be filed annually. The report details net revenue for President Trump’s businesses and properties but does not specify how much the president made personally.
According to USA TODAY, “the filing shows that the Trump golf course near Washington, D.C., had income of about $13.3 million last year, while the Trump hotel in downtown Washington, D.C., had income of $40.8 million.”
You can read the disclosure report here.
NY Mayor Threatens to Fine Trump Org.
New York City Mayor Bill de Blasio is threatening to fine the Trump Organization $2.1 million a year beginning in 2030 unless the company reduces emissions from its building, Reuters is reporting.
“It doesn’t matter who you are, even the president of the United States, you have to obey the laws of New York City,” de Blasio said.
A new law in the city that took effect this week sets emissions standards for large buildings, like Trump Tower.
According to Reuters, “eight of Trump’s buildings in the city fail to meet the 2030 emissions standards, releasing about 27,000 metric tons of greenhouse gases each year, or the amount produced by 5,800 cars.”
Trump Tower Occupancy
“With most recent condominium sales going for a loss, and with an office vacancy rate twice the Manhattan average, the last few years have not been kind to business at Trump Tower,” the Real Deal, a New York real estate news organization, is reporting.
According to the news organization, the current occupancy rate at Trump Tower is 83 percent, down from 99 percent seven years ago. The article cites enhanced security present at the building and a lack of upgrades as possible reasons for the lower occupancy rate.
The Real Deal reports President Trump’s 2020 campaign committee has paid more than $890,000 in rent over the last two years. On the residential side, at least 13 condos in Trump Tower, have sold since 2016, a majority of which went for a loss after adjusting for inflation.
More conflicts of interest in the news
- Treasury Secretary Steven Mnuchin defies House Democrats’ subpoena for Trump’s tax returns
- Flynn told Mueller that people tied to Trump and Congress tried to obstruct probe
- Judge Hints at Skepticism of Trump Effort to Block Financial Records Subpoena
- The battle over Trump’s tax returns, explained
- What We’ve Learned From Trump’s Tax Transcripts
- Complaints grow that Trump staffers are campaigning for their boss
- Donald Trump Jr. agrees to testify before the Senate Intelligence Committee again
- White House rejects House panel’s demands, says investigation amounts to ‘unauthorized do-over’ of Mueller probe
- Key House Democrat plans to take ‘enforcement action’ against Justice Department
- ‘Not A Peep From Ivanka’: Trump’s Daughter Called Out After Her Landlord’s Mining Lease Renewal Threatens Environment
- EPA Watchdog Finds Ex-Chief Scott Pruitt Spent $124,000 On ‘Excessive’ Airfare
About this Project
Sunlight’s “Tracking Trump’s Conflicts of Interest” project provides a free, searchable database detailing President Donald J. Trump’s known business dealings and personal interests that may conflict with his public duties as President of the United States. The project also documents news coverage of these potential conflicts. Read our reporting to stay current on related news, explore our database, and learn more about the project. As we continue to learn about the First Family’s business holdings, the database will be updated. To help with those updates, get involved by contacting us here. You can also contact us if you’re familiar with any of the conflicts we’re tracking.
Lynn Walsh is an Emmy award-winning freelance journalist who has worked in investigative, data and TV journalism at the national level as well as locally in California, Ohio, Texas and Florida. She produces content focused on government accountability, public access to information and freedom of expression issues. She’s also helping to rebuild trust between newsrooms and the public through the Trusting News project.