Eric Trump says his father 'has lost a fortune' running for president in response to NYT reports on Trump's taxes
Summary List PlacementIn response to a report that revealed how an array of corporations and foreign governments looking for favors patronized Trump hotels and resorts over the several years, Eric Trump, the president's son, said on Sunday that his father has not profited off of his position, according to ABC News. Speaking to ABC's Jonathan Karl on "This Week," Eric Trump pushed back on any ethical and financial lapses. "We've lost a fortune," said Eric Trump, an executive vice president at the Trump Organization. "My father lost a fortune running for president. He doesn't care. He wanted to do what was right. The last thing I can tell you Donald Trump needs in the world is this job." The statements came after another New York Times report detailed how President Trump turned "his own hotels and resorts into the Beltway's new back rooms, where public and private business mix and special interests reign." The article also revealed that "just 60 customers with interests at stake before the Trump administration brought his family business nearly $12 million during the first two years of his presidency," adding that, "almost all saw their interests advanced, in some fashion, by Mr. Trump or his government."
NEW: “My father has lost a fortune,” Eric Trump tells @jonkarl when pressed on a NYT report that Pres. Trump turned “his own hotels and resorts into the Beltway’s new back rooms, where public and private business mix and special interests reign.” https://t.co/fsCP2um0H5 pic.twitter.com/MtZLiszs2K — This Week (@ThisWeekABC) October 11, 2020
Eric Trump then questioned the timing of the report and attacked the credibility of The New York Times. "We're a hospitality company," he said. "We've got tens of millions of people staying at our properties every single year. The New York Times is absolute fake news. All they want to do is take down my father." He added: "Every single day, every single day, literally starting the morning of the debate, they've dropped some story that they've been sitting on for literally the last six months or year or two years, to try and influence the election." When pressed by Karl about President Trump's $421 million debt load as reported by The New York Times in late September, Eric Trump continued to push back, arguing that it was a consequence of conducting business. "If you own buildings, if you own real estate, you carry some debt," he said. "That's what developers do, that's what business owners do, they carry some debt...We have a phenomenal company, but there's nothing new about that, and by the way, it's the same debt that he got elected on."Join the conversation about this story » NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America
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US taxpayers have paid nearly $1 million to Trump properties, including official stays in hotel rooms, since he took office, according to a new report
US taxpayers have paid close to $1 million to President Donald Trump's company through his various...US taxpayers have paid close to $1 million to President Donald Trump's company through his various hotels and clubs since he became president, The Washington Post reported on Thursday. Those payments include more than 1,600 nightly room rentals at Trump properties, according to The Post, which "tallied all the available records that showed Trump's company charging Trump's government for room rentals." The Trump Organization has not publicly disclosed how much taxpayer money has been paid to the company since Trump has taken office. Trump has previously stated that his resorts are easier for law enforcement to secure, a defense he has repeatedly used to justify his administration's stays at his resorts during overseas travel. Visit Business Insider's homepage for more stories. United States taxpayers have paid close to $1 million to President Donald Trump's company through his various hotels and clubs since he became president, The Washington Post reported on Thursday. According to federal records obtained by The Post, the government has paid at least $970,000 to Trump's business, which he still owns, though has passed on the day-to-day operations to his sons. Those payments include more than 1,600 nightly room rentals at Trump properties, according to The Post, which "tallied all the available records that showed Trump's company charging Trump's government for room rentals." The Post said that since March, it has recorded an additional $340,000 in these types of payments, almost all of which were "related to trips taken by Trump, his family, and his top officials." "The government has paid for staffers and Secret Service agents to accompany the president," The Post said. Eric Trump, the Trump Organization's executive vice president and the president's second son, said last year that the government "saves a fortune" on hotels during the president's travel by having officials stay at Trump properties. "If they were to go to a hotel across the street, they'd be charging them $500 a night, whereas, you know we charge them, like $50," he said. However, according to The Post, none of the 1,600 rooms paid for by taxpayer funds were priced that low. "The data is still incomplete," The Post admitted of its reported findings. "But it makes clear that Trump has received an unprecedented amount of payments from his own government." The Trump Organization has not disclosed how much taxpayer money has been paid to the company since Trump has taken office. Representatives for The White House did not immediately respond to Business Insider for comment on the figures cited by The Post. Trump has previously stated that his resorts are easier for law enforcement to secure, a defense he has repeatedly used to justify his administration's stays at his resorts during overseas travel. Previous reporting by The Post in February showed that Trump charged US taxpayers up to $650 per night at his Mar-a-Lago resort on several occasions in 2017, and $396.15 per night several times in 2018. The president has also sparked controversy for announcing that the 2020 G-7 conference would be held at the Trump National Doral golf club in Miami, Florida. He walked back on the idea in October. Trump's international properties have also reportedly profited from his overseas travel, including his golf resort in Ireland, which reportedly slapped extra security hired during his June 2019 visit with a bill of over $100,000.SEE ALSO: Secret Service spent more than $250,000 at Trump's properties in the first 5 months of his presidency, records show Join the conversation about this story » NOW WATCH: Inside London during COVID-19 lockdown
Stock market crash strips billionaire status from 267 of world’s richest people in the annual listDonald...Stock market crash strips billionaire status from 267 of world’s richest people in the annual listDonald Trump lost an estimated $1bn of his paper fortune in the past month as the coronavirus lockdown forced the closure of offices, shopping centres, hotels and golf courses he owns.The US president’s fortune has fallen from an estimated $3.1bn (£2.5bn) on 1 March to $2.1bn on 18 March (at the height of stock market panic caused by the coronavirus pandemic) according to Forbes magazine’s annual billionaires list. Continue reading...