Trump files FEC disclosure, providing a public look at his personal finances

Former President Donald Trump is seen leaving Trump Tower on Thursday in New York City.  File Photo by John Nacion/UPI
Former President Donald Trump is seen leaving Trump Tower on Thursday in New York City. File Photo by John Nacion/UPI | License Photo

April 15 (UPI) — Former President Donald Trump filed a financial disclosure report with the Federal Election Commission on Friday, providing the public with a rare look at his personal finances.

In the document, an FEC employee who reviewed the filing noted that Trump had been given two extensions totaling 90 days to submit the report.

Such filings are required by federal law as a means of combatting corruption during a federal election and his filing will allow the former president to avoid a $200 penalty after missing an earlier deadline to file the report.

The 101-page report includes a list of Trump’s assets and liabilities and their estimated values, indicated in the report with wide ranges.

For example, Trump reported that the value of his property 1125 S. Ocean Boulevard in Palm Beach, Fla. — a home previously owned by his aunt and located next to his Mar-a-Lago estate that he purchased in 2018 for $18.25 million — was worth “over $50 million” without being required to provide a more precise figure.

Other high-ticket assets listed in the report include his midtown Manhattan office tower, 1290 Avenue of the Americas, a property highlighted on The Trump Organization’s website. That building was also estimated as having a value of “over $50 million.”

While Trump appeared to over-evaluate how much some of his properties were worth, he also appeared to devalue other assets.

The valuation of the parent company of Trump’s social media company Truth Social sat at between $5 million and $25 million despite having a massive $9 billion valuation in 2021 when it announced a merger with the special purpose acquisition company.

He has reported little to no income from that company, Trump Media & Technology Group Corp., of which he owns 90%.

The disclosure report also revealed that Trump earned less than $1 million from the sale of NFTs, a series of virtual “trading cards” advertised on the website CollectTrumpCards.com depicting the former president in various costumes including a superhero outfit.

The sale of the trading cards could potentially have been a blow to Trump who privately said that the digital assets could reach as high as $100 million in sales, The New York Times reported.

Dozens of Trump assets were listed as having no value, or less than $1,000 in value, mostly relating to various limited-liability corporations the former president has established.

Another takeaway from the report is that Trump has paid off at least six loans since leaving office, including those for his Trump Tower in New York City and for his Trump Doral golf club near Miami.

Trump revealed that he took out new loans from Axos Bank worth more than $50 million each for both loans of those same properties.

The former president also appears to have paid off another major loan for his Trump Old Post Office, the controversial hotel he leased near the White House in Washington DC that was sold last year.

Trump had purchased the lease for his 263-room hotel from the government in 2013 and spent roughly $200 million renovating the building, largely financed through a $170 million loan from Deutsche Bank.