A Better Year for Trump’s Family Business (Last Year, That Is)

Before the coronavirus ripped through the country, upending President Trump’s family business and the broader hospitality industry, the company last year showed modest gains, according to Mr. Trump’s annual financial disclosure report released late Friday.

The disclosure report, which offers the only official public detailing of the president’s personal finances, had been delayed for months after Mr. Trump received two extensions.

The delay came in part based on questions the Office of Government Ethics had raised about, among other issues, the value of pro bono legal work provided to the president by Rudolph W. Giuliani, the former New York mayor, according to people with knowledge of the delay.

As the United States economy was humming in 2019, the Trump Organization reported revenues of at least $446.3 million, up more than 2 percent from $434.9 million, in 2018. In 2017, he reported at least $452.6 million in revenues.

All told, the report shows that last year’s revenues, while an improvement over 2018, still reflect the toll Mr. Trump’s divisive presidency has taken on his brand.

The president reported assets worth at least $1.35 billion, down narrowly from 2018 and 2017.

In a statement, Eric Trump, the president’s son and a senior executive at the company, called it a “fantastic year for our country and one of the best years in the history of The Trump Organization.”

While providing no specific historic comparisons for the privately held company, he described the revenue as “strong” and noted that the company has “very low levels of debt.”

Keep reading this article on The New York Times Business.

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