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>> With President Trump refusing to release his tax returns, the American public forced to settle for just a glimpse into his finances by way of his first financial disclosure since entering the White House. The President is $315 million in debt, according to the 98 page document released late Friday by the US Office of Government Ethics.
A bulk of that money owed to a unit of Germany's Deutsche Bank which loaned him cash to finance his real estate deals, including more than $50 million for a hotel on the site of the historic old post office in Washington, DC. That hotel, by the way, is the subject of lawsuits by those who say the president is violating the emoluments clause in the Constitution which prohibits federal officials from accepting foreign payments or gifts without congressional approval.
The filing also providing a peak into the president's income. Business is booming at the Trump Corporation, his real estate management company. Revenues have tripled, and at his Mar-a-lago estate in Florida, where he's hosted several foreign leaders since taking office, revenues are up 25%. The initiation fee to the private club doubled to $200,000 after his White House victory.
Trump turned over the day to day management of his companies to his sons, but he still can financially benefit from any gains while in office.