How Donald Trump Moved Millions From His Campaign Donors To His Private Business - 2020-07-21

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F46.png How Donald Trump Moved Millions From His Campaign Donors To His Private Business July 21, 2020, Dan Alexander, Forbes

Donald Trump has not given a dime to his reelection campaign, opting instead to fund the entire effort with his donors' money. His business, meanwhile, has continued to charge the campaign for things like food, lodging and rent. The result is that $2.2 million of contributions from other people has turned into $2.2 million of revenue for Trump.

And that's just counting the money flowing directly through the president's campaign. His reelection apparatus also includes two joint fundraising committees, which work with the Republican party to raise money for Trump. Since he took office, those entities—named Trump Victory and the Trump Make America Great Again Committee—have funneled another $2.3 million into the president's private business, according to a review of Federal Election Commission records. Then there's the Republican National Committee, which has spent an additional $2.4 million at Trump properties. Add it all up, and the president, working in concert with the party he leads, has helped push $6.9 million into his businesses since taking office.

It's a meaningful sum, even for a large business. Consider the payments to Trump National Doral, the president's golf resort in Miami. In 2017, Trump's first year leading the country, revenues at Doral dropped from $88 million to $75 million, dragging profits (measured as earnings before interest, taxes, depreciation and amortization) down from $12.4 million to just $4.3 million. The next year, the RNC, which had spent just $3,000 at the property in 2017, upped its expenditures to $603,000. That helped give a slight boost to the business, which recorded 2018 profits of $9.7 million, according to a spokesperson for the Trump Organization.

Wikipedia cite:
{{cite news | first = Dan | last = Alexander | author2 = Michela Tindera | title = How Donald Trump Moved Millions From His Campaign Donors To His Private Business | url = https://www.forbes.com/sites/michelatindera/2020/07/21/how-donald-trump-moved-millions-from-his-campaign-donors-to-his-private-business/ | work = Forbes | date = July 21, 2020 | accessdate = July 21, 2020 }}