Financial disclosure shows presidential nominee owes $500m in civil penalties but sheds little light on solvency
Donald Trump made hundred of thousands from his branded Bible and millions from his properties – but also owes millions for defamation and fraud cases, according to his latest financial disclosures that shed little light on the perennial question of whether the Republican presidential nominee is, in fact, solvent.
Voluminous disclosure documents to the US Office of Government Ethics to comply with election campaign laws show that, in addition to Trump’s US real estate holdings, he has global financial interests, including registered trademarks in China, Saudi Arabia, Iran, Ukraine and Israel.
He also owns millions in cryptocurrency and has a six-figure investment in gold bars.
But the disclosures also hint at Trump’s substantial personal outgoings, including more than $500m owed to both the writer E Jean Carroll and the New York attorney general resulting from civil judgments involving defamation and accounting fraud.
Both judgments – $83m to Carroll and $454m to New York state – are subject to bonds while Trump appeals the decisions, a process that could take years.
Trump’s Mar-a-Lago home and private club in Florida, which formed part of a case against the Trump Organization involving inflated asset valuations, produced about $57m in income from the club, down about $8m from a previous disclosure.
The disclosures are not a profit-and-loss balance sheet – they only give broad ranges of income and assets – so alone they cannot determine whether Trump is in the red or the black. He has consistently resisted efforts to force the release of his tax returns, although two years ago a Democrat-controlled Congress released six years of Trump’s tax returns, dating to 2015, the year he announced his presidential bid.
Earlier this year, Trump joined Bloomberg Billionaires Index of 500 richest people, with a fortune of $6.5bn – a $4bn increase, resulting from a Spac merger of his social media company, Trump Media & Technology Group, which operates the Truth Social site where the former president posts most of his public messages. But the value of the media group has declined significantly in recent months by as much as $1.3bn.
Read More: Trump reveals he made $300,000 selling Bibles and has big cryptocurrency stash