Exposed: Trump's lucrative presidency
A recent Forbes financial analysis has revealed that former President Donald Trump earned more money during his time in the White House than any other U.S. president in history.
According to the report, Trump's earnings between 2016 and 2020 amounted to more than $250 million, a result of his decision to maintain control of his business empire while serving as commander-in-chief.
The analysis, based on Trump's tax returns, bond filings and credit reports, shows how Trump's business fortunes fluctuated during his presidency. In 2017, despite a $25 million settlement related to Trump University fraud allegations, Trump was able to use this loss to his advantage on his tax filings. The following year saw significant profits from properties not bearing the Trump name, including two buildings in New York City and San Francisco that brought in $55 million.
However, Trump's businesses faced challenges, with income dropping at Trump Tower and 40 Wall Street in New York City, and losses mounting at his Washington D.C. hotel.
The COVID-19 pandemic in 2020 further impacted Trump's profits, with his hotels losing about $23 million and his management business shrinking from $29 million in 2017 to just $4.5 million.
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Despite these setbacks, Trump's office buildings proved to be a "short-term savior," according to Alexander, thanks to long-term leases with marquee tenants. The analysis underscores how Trump's unprecedented decision to retain his business interests while in office allowed him to continue generating substantial personal wealth throughout his presidency.
