Trump’s business income plunged during pandemic, final disclosure reveals

Former President Donald Trump’s business empire lost significant revenues during the pandemic as the virus and the failure to respond cost its own interests money, according to a financial disclosure document released after its Wednesday departure.

Most of its major golf and hotel properties have seen steep declines as the virus and lockdown restrictions have held consumers home and suspended discretionary travel.

Compared to its disclosure the previous year, Trump National Doral Miami Golf Course in Florida has increased revenue from $ 77 million to $ 44 million. Trump’s Turnberry Golf Club in Scotland has seen revenue drop from $ 25 million to just under $ 10 million.

Revenue also fell from $ 40.5 million to $ 15 million at the Trump Hotel in the former rented post office in Washington, DC.

Total revenue fell at the Trump International Hotel & Tower Chicago condo hotel last year, with hotel management fees falling from nearly $ 2 million to around half a million dollars and the cost of slightly higher condo management.

Business has grown in parts of the Red State, such as its golf club in Charlotte, North Carolina, where revenues have jumped from $ 12 million to $ 13 million. Revenues for Mar-a-Lago, his private club in Florida and his new residence, increased by $ 3 million.

But overall, the net impact was negative, with Trump’s reported income falling from $ 445 million to $ 278 million.

The Trump organization did not immediately respond to an NBC News request for comment.

The documents detail the buying and selling of various bonds and exchange-traded funds in 2020, as the S&P 500 index fell 2,800 points at the start of the year, fell nearly 20% when lockdowns of virus and layoffs hit, then recovered to around 3,700 on January 15, the day Trump signed the document.

The disclosure shows active loans at several banks, some of which, including Deutsche and Professional, have vowed to do future business with Trump.

Documents show that a financial institution, Investors Savings Bank, is extending the term of a loan that will expire in 2020 by one year – at a slightly higher interest rate. The mortgage was between $ 5 million and $ 25 million for Trump Park Avenue. The bank did not immediately respond to a request for comment.

The document is a final 79-page look at Trump’s announced finances as he returns to life as a private citizen and wonders how to capitalize on his altered brand after the presidency.

He also provides details of several gifts Trump and his family accepted over the past year. They include a $ 25,000 “bronze statue of a flag raising the flag over Iwo Jima” from a Denver-based veterans association, a Mac Pro of Apple CEO Tim Cook and a custom $ 500 golf club. of Dennis Muilenburg, the disgraced former CEO of Boeing.