US President Donald Trump disposed of $35m (about £27m) of property in 2018, according to analysis of transaction records by US magazine Forbes.
Forbes’ journalist Dan Alexander says that sales included a share in a housing complex in Brooklyn netting the President $20m after debt repayments and 36 units at Trump’s Las Vegas tower, which he owns 50% of, for $11m.
The Forbes’ article expresses concern that one of the Las Vegas sales was to a Chinese buyer and so effectively breached Trump’s pre-election pledge not to enter into further foreign deals.
More significantly however, it says that some of the sales here were to anonymous limited liability companies. Therefore, in practice, it is possible for anyone to send money to the President of the United States without their true identity being known. It points out that anyone staying in a Trump-owned hotel can do much the same thing.
Donald Trump would, of course, make most British politicians look poverty-stricken by comparison. However, it is not unusual for large UK property transactions to be conducted through offshore companies too. So it may well raise the question as to whether something similar could happen on this side of the Atlantic.
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