Tags: trump | real estate | sold

Forbes: Trump Sold $35 Million in Real Estate in 2018

Forbes: Trump Sold $35 Million in Real Estate in 2018
Trump Tower Las Vegas, where 36 units were sold for a total of $11 million. (Getty Images)

By | Saturday, 12 January 2019 04:08 PM

Though President Donald Trump has given this two oldest sons, Don Jr. and Eric, control of the management of his assets while he is president, he still owns his business, and they sold $35 million worth of real estate in 2018, Forbes reports.

Forbes looked at local property tax records and federal filings.

The largest sale was from a housing complex in Brooklyn that went for $900 million, according to Forbes. Trump owned 4 percent of the property and walked away with about $20 million before taxes.

The Department of Housing & Urban Development had to approve the sale, Forbes noted, which falls under the leadership of President Donald Trump.

Other sales found by Forbes:
  • 36 units in Trump Tower in Las Vegas for $11 million. (Trump owns 50 percent of the tower with casino owner Phil Ruffin, according to Forbes.)
  • Three empty lots near his LA-area golf course for a total of $5.6 million.
  • Three parking spaces at Trump International Hotel and Tower in Chicago for $170,000
  • A warehouse in South Carolina for $4.1 million.

Among ethical concerns cited by Forbes is the fact that about a third of the Vegas units were purchased through limited liability companies, allowing buyers to shield their identities.

"In other words, people were pumping cash into the president’s coffers without disclosing who they were," Forbes reported.

Further, the report noted, that one of Trump lawyers promised before he took office that “No new foreign deals will be made whatsoever during the duration of President Trump’s presidency.” Yet, on Oct. 2, a man named Yu Zhang who listed his address as Taiyuan City, China, bought a Vegas unit for $255,000, according to Forbes.

It said neither the White House nor the the Trump Organization had responded to requests for comment.




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Though President Donald Trump has given this two oldest sons, Don Jr. and Eric, control of the management of his assets while he is president, he still owns his business, and they sold $35 million worth of real estate in 2018, Forbes reports. Forbes looked at local property...
trump, real estate, sold
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2019-08-12
Saturday, 12 January 2019 04:08 PM
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