USA Today investigated Trump empire and found some revealing details

USA Today just concluded a 4 month investigation of the Trump organization to determine the true wealth and properties of the President’s empire. The investigation revealed that Trump’s companies are currently sitting on luxury condos and penthouses worth over $250 million. The properties, scattered across New York City to Las Vegas cost between $200,000 to $35 million each. The properties are located in prime areas in cities across America. There are some overlooking his golf course on the Pacific.

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According to USA Today, the investigation revealed the following:

Trump owns 30% of one of the most desirable office complexes downtown drawing million a year on his share of rent from dozens of tenants.

Trumps owns a dozen building worth a million dollars or more each, along his golf course in Ranchos Palos Verdes. He sold one at Thanksgiving to a limited liability company for about $1.5 million

Trump and his partner Phil Ruffin still own 388 condos in their tower near the strip. They’ve sold 11 since Election Day for more than $3 million. In addition to condo sales, hotel and management fees make the tower Trump’s second-biggest source of income after his Doral golf resort in Miami.

While condos in Trump’s riverside skyscraper downtown sold out years ago, he still owns premium commercial space at its ground level that is for lease to well-heeled office or retail customers.

Trump companies own 32 residential condos and 82 smaller pieces of real estate, including office and retail space for lease. He’s sold two condos in the city for $18 million since Election Day.

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Critics have been concerned about President Trump’s possible conflict of interest since he became the President early this year. To protect himself, the President setup a trust to manage his empire which is now run by his sons. However, he is still the sole signatory to the trust and can make withdrawals at his prerogative.

In the investigation by USA today, the luxurious properties further raises concerns about the conflict of interest as individuals or companies seeking a favour from Trump can acquire any of his luxurious properties, or even overpay for some in other to get the President’s attention favour. This was evident as Shari Sanderson, a real estate agent involved in selling units in the Las Vegas hotel-condo tower told USA Today reporters: “I get a lot more phone calls now that he’s the president,”.

 

 

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