President Donald Trump speaks in Yuma, Arizona at an occasion for his reelection marketing campaign, which has raised enormous sums from supporters across the nation however, to this point, not a cent from the billionaire himself.
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Donald Trump continued to shift cash from his donors to his enterprise final month, as his reelection marketing campaign paid his non-public firms for lease, meals, lodging and different bills, based on a overview of the most recent Federal Election Fee filings. The richest president in American historical past, who has but to donate to his 2020 marketing campaign, has now moved $2.3 million of contributions from different individuals into his non-public firms.
The newest bills look acquainted. The president accepted $38,000 in lease final month by Trump Tower Business LLC, the entity that owns his Fifth Avenue skyscraper. Since Trump took workplace, his marketing campaign has paid that firm $1.5 million, greater than another property within the Trump empire, based on an evaluation of federal filings. The Republican Nationwide Committee additionally coordinated with the marketing campaign to pay Trump Tower Business LLC a further $225,000.
Trump bought one other $8,000 in July by way of the Trump Company, a administration firm that he owns. The exact cause for these funds is unclear. Marketing campaign filings describe the rationale as “authorized & IT consulting” but it surely’s nonetheless a thriller why Trump’s administration firm is offering such companies. The Trump Company has now taken in $281,000 from the marketing campaign because the president entered the Oval Workplace.
More cash went to Trump Eating places LLC, one other firm the president owns outright. These funds could also be related to a kiosk within the basement of Trump Tower that sells marketing campaign memorabilia. It’s exhausting to think about that the kiosk has been doing a lot enterprise amid the coronavirus disaster, however the marketing campaign has continued to pay its lease, $3,000 per 30 days. Trump Eating places LLC has gotten $117,000 since its proprietor turned president.
Trump Lodge Assortment, wherein Trump additionally owns a 100{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05} curiosity, obtained one other $1,000 in July. The marketing campaign has paid Trump’s resort properties $226,000 since Inauguration Day, based on the evaluation of federal filings.
Not each firm cashed in final month. Forbes discovered no funds to Mar-a-Lago, the president’s golf golf equipment, or Trump Plaza LLC—an entity that controls property on Third Avenue in Manhattan and beforehand collected common lease from the reelection effort.
Trump’s machinations have been occurring for years now. Forbes first reported on cash shifting from his reelection marketing campaign to his enterprise in 2018. The quantity has greater than doubled since then.
The Trump Group didn’t reply to a request for remark. A consultant for the Trump marketing campaign ignored a collection of questions in regards to the funds and as an alternative issued a broad assertion. “The marketing campaign complies with all marketing campaign finance legal guidelines and FEC laws,” the assertion mentioned. “The marketing campaign pays truthful market worth beneath negotiated rental agreements and different service agreements in compliance with the legislation. The marketing campaign works intently with marketing campaign counsel to make sure strict compliance on this regard.”
Along with the marketing campaign, the Republican Nationwide Committee and the president’s joint-fundraising committees have additionally paid tens of millions of {dollars} to Trump’s companies. Final month, Forbes reported on $4.7 million of funds from these entities since Trump took workplace. The president’s complete haul—from his marketing campaign, celebration and joint fundraising committees—now stands at greater than $6.9 million.
Not a meaningless sum, even for a billionaire.
With extra reporting by Michela Tindera.
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