Trump made a profit of $35 million from the sale of real estate in 2018 - Forbes

  • Trump made a profit of 35 million from the sale of real estate in 2018 - Forbes

Kyiv: The current US President Donald Trump over the past year, when he officially served as head of the White House, received about $35 million in the real estate market.

This was announced on Friday by the American Forbes magazine referring to the records of the federal register of real estate trading.

"Donald Trump sold real estate worth about $35 million during his stay at the White House last year," the publication said.

It is emphasized that, although the president transferred his assets to his two sons, Erica and Don Jr., after gaining the powers of the president, he still continued to own his business.

More than half of the total amount of $35 million was obtained from a single transaction in which Trump and business partners sold out a residential complex in Brooklyn. The president’s company had a 4% stake in this property. According to Forbes, the company earned about $20 million before taxes.

In addition, in Las Vegas, the president sold 36 apartments for $11 million in his 64-story tower, which he owns in a 50-by-50 partnership with casino magnate Phil Ruffin, the newspaper writes. From these agreements, Trump received approximately $5,500,000.

The remaining income Trump received from the sale of real estate in California, South Carolina, as well as premises in the Trump Tower in Chicago.

At the same time, as the newspaper notes, the majority of buyers wished to remain anonymous, having completed the transaction through limited liability companies.

In general, according to Forbes, Donald Trump owns real estate totaling about $437 million.

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