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Forbes Daily Briefing

How Donald Trump Earned $550 Million In The White House

Forbes Daily Briefing

Forbes

Business, Tech News, News

4.418 Ratings

🗓️ 7 August 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

The 45th president refused to give up his business when he took power in 2017, ensuring that he made more in office than any other president in history.

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Transcript

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0:00.0

Here's a Forbes Daily Briefing Bonus Story of the Week.

0:04.0

Today on Forbes, How Donald Trump earned 550 million dollars in the White House.

0:11.0

As Donald Trump looks to reclaim the White House,

0:15.0

key questions about his first term remain unanswered,

0:18.0

such as how much he profited from holding on to his private businesses

0:21.0

when he became president.

0:23.5

Some details have emerged, like how much revenue he generated, how much taxable income he declared,

0:28.9

even rough profit estimates for certain years.

0:32.0

But an in-depth four-year accounting of his operating income

0:34.9

has remained elusive, until now. Trump's businesses threw off about 550

0:41.1

million dollars from 2017 to 2020.

0:44.4

This according to an analysis of documents,

0:46.4

tax returns, financial disclosures, bond filings,

0:50.0

credit reports, and internal records,

0:52.4

many of which emerged after the former president left the White

0:54.9

House. For Trump, who earned even more before becoming president, the money was critical,

1:00.4

allowing him to service his debts, improve his properties, pay his kids, and live like a king, all while governing the nation.

1:07.0

In our analysis, Forbes broke down assets and estimated income from operations year by year for the four years that Trump was in the White House,

1:15.6

2017, 2018, 2019, and 2020.

1:20.3

Trump made a big show of donating his presidential salary of $400,000 a year,

1:25.0

but that was less than 0.4% of the operating income his business threw off each year.

1:30.0

His real money came from the business he refused to divest, not from his government salary.

...

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