Donald Trump’s businesses took in more than $700 million between January of last year and this month, according to his latest public financial disclosure report, filed with the Federal Election Commission this week and released yesterday. The new document shows increased revenue from many of his businesses compared to last year’s filing, though the forms may cover slightly different periods—his Miami-area golf club earned $160 million, Mar-a-Lago made $56 million, his Bedminster golf club made $37 million and the form shows nearly $6 million in revenue from Trump’s Truth Social holdings. 

Trump reported at least $346 million–and possibly more than $455 million–in liabilities on this year’s disclosure, including over $101 million owed to E. Jean Carroll and the New York Attorney General due to the legal judgments against him. He “terminated” a previously reported over $50 million loan related to his Chicago tower, which came under scrutiny for its legitimacy, as of December 2023.

The disclosure shows that Trump’s businesses earned at least $732,087,841 and possibly more than $782,488,057 since January 1, 2023. Last year’s financial disclosure claimed income of at least $983 million and possibly in excess of $1 billion. Income from many holdings is reported only in broad ranges, and Trump is not required to specify amounts received from some assets when they exceed $5 million. It is unclear whether the reports cover equal periods of time.

Trump’s DC, Miami and Bedminster, New Jersey golf clubs have each hosted Saudi-backed LIV Golf tournaments during the period covered by the form. These clubs earned $28 million, $160 million and $37 million, respectively.

Trump took in over $15 million in licensing fees in the period covered, including $7 million in licensing income from NFTs. Trump reported earning $2.5 million from a Trump-branded project in development in Oman, and $4.3 million from developments in Dubai. The form appears not to include any revenue from two tower developments in Saudi Arabia and the UAE announced last month. 

Trump’s refusal to divest from his businesses during his presidency was not only a notable departure from precedent, but a continual source of conflicts of interest. CREW tracked over 3,700 instances of conflicts of interest during his time in office, including hundreds of visits to his properties by US and foreign officials. His business interests also gave foreign players a unique opportunity for corrupting influence. Should Trump serve in government again, he has given no indication that he will adhere to the basic ethical standard of divestment.

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