Those companies didn’t go away. From 2008 on, they’ve been grabbing an inordinate amount of Trump properties.
The companies were created in April 2013 in New York. A week later, property records show, they paid a total of $3.1m to buy the apartments that corresponded with their names in the Trump Soho, a 46-storey luxury hotel-condominium completed in 2010 in a chic corner of Manhattan.
While attorneys general in multiple states may be suing Donald Trump for money he makes from hotels and other services, the big dollars in Trump’s coffers still come from turning over property. How much of Trump’s real income is being fronted by foreign governments? It’s very, very hard to say. And that money is all Trump’s.
Since Election Day, Trump’s businesses have sold 28 of those U.S. properties for $33 million. The sales include luxury condos and penthouses in Las Vegas and New York and oceanfront lots near Los Angeles. …
Profits from sales of those properties flow through a trust run by Trump’s sons. The president is the sole beneficiary of the trust and can withdraw cash any time.
These are dollars that are flowing into Trump’s pockets right now—unfiltered, unfettered, without restriction, and from unknown sources.
Their concern is that the secretive sales create an extraordinary and unprecedented potential for people, corporations or foreign interests to try to influence a President. Anyone who wanted to court favor with the President could snap up multiple properties or purposefully overpay, without revealing their identity publicly.
What’s piled up in Donald Trump’s account since the election isn’t just what he can skim from overpriced hotel rooms and hideously expensive cocktails. It’s $33 million in real estate sales to persons unknown. And that’s merely the start.
The value of his companies' inventory of available real estate remains above a quarter-billion dollars.