Trump discloses income in financial form

Donald Trump

Donald Trump

US President Donald Trump has released a new personal finances report, disclosing income as well as his liabilities in hundreds of companies.

The last time Trump released any information about his finances was in May 2016, as a candidate, showing he was worth was at least $1 billion.

And revenue at Trump's Palm Beach club, Mar-a-Lago, climbed to $37.2 million during the 15½ month period covered by the report.

The Emoluments clause which aims to prevent foreign financial ties as projected onto the Trump International Hotel in Washington in May.

The forms show that Trump reported $7 million in book royalties, $19.7 million in income from his golf club in Bedminster, N.J., and $19.7 million from his recently opened hotel in Washington, D.C. The club doubled its initiation fee after Trump's electoral victory in November, increasing the cost to $200,000.

Trump is facing increasing pressure related to the alleged Russian meddling in the USA presidential elections and suspected ties to the Republican campaign.

The president's golf courses have been very lucrative, especially Trump National Doral, in Miami, which brought in $115,865,590.

The 2016 report listed royalties as being between 50,000 and 100,000 dollars, and the 2015 report put them at 15,000 to 50,000 dollars.

The document shows Trump held officer positions in 565 corporations or other entities before becoming US president.

Another one of Trump's more controversial business ventures, the Old Post Office Building, earned him $19 million during the reporting period.

According to the documents, Trump owes about $315 million to lenders and made almost $300 million in income over the past year.

The numbers were reported in a 98-page disclosure form signed by Trump this week and made public by the Office of Government Ethics late Friday.

The president has a pile of assets worth about $1.5 billion with liabilities of $315 million, according to the report.

In the past year, Trump has made $37 million from the Mar-A-Lago club, which has served as his second White House.

When he took office in January, Mr Trump turned over the reins of his global estate, property management and marketing empire to his two adult sons and a senior executive. Tax experts say there's no law that would prevent releasing his returns, even while audits are pending.

The latest report shows Trump resigned from more than 500 positions, stepping down from many on the day before his inauguration.

Trump has ignored calls to release his tax returns, falsely claiming that he can not do so while under audit by the Internal Revenue Service (IRS).

Senate GOP health bill would reshape Obama law
Berger wins at St. Jude Classic for second straight year