Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Forbes Estimates China Paid Trump At Least $5.4 Million Since He Took Office, Via Mysterious ...
Last edited Sat Oct 24, 2020, 10:13 AM - Edit history (1)
Hat tip, Joe.My.God.
Forbes: Trump Lied At Debate, China Pays Him Millions
October 24, 2020
https://www.joemygod.com/2020/10/forbes-trump-lied-at-debate-china-pays-him-millions/
DAILY COVER | 134,912 views | Oct 23, 2020, 12:32pm EDT
Forbes Estimates China Paid Trump At Least $5.4 Million Since He Took Office, Via Mysterious Trump Tower Lease
Dan Alexander Forbes Staff
Policy
Senior editor at Forbes, covering Donald Trump's business.
President Donald Trump, who declared “I don’t make money from China” in Thursday night’s presidential debate, has in fact collected millions of dollars from government-owned entities in China since he took office. Forbes estimates that at least $5.4 million has flowed into the president’s business from a lease agreement involving a state-owned bank in Trump Tower.
The Industrial and Commercial Bank of China signed a lease for space in 2008, years before the president took office, paying about $1.9 million in annual rent. Trump is well-aware of the deal. “I’ll show you the Industrial Bank of China,” he told three Forbes journalists touring Trump Tower in 2015. “I have the best tenants in the world in this building.”
Trump moved from the skyscraper to the White House in 2017, but he held onto ownership of the retail and office space in the building, through his 100% interest in an entity called Trump Tower Commercial LLC. That put him in an unusual position, given that government-owned entities in China hold at least 70% of the Industrial and Commercial Bank of China. Suddenly, a routine real estate deal became a conduit for a foreign superpower to pay the president of the United States.
{snip}
Forbes Estimates China Paid Trump At Least $5.4 Million Since He Took Office, Via Mysterious Trump Tower Lease
Dan Alexander Forbes Staff
Policy
Senior editor at Forbes, covering Donald Trump's business.
President Donald Trump, who declared “I don’t make money from China” in Thursday night’s presidential debate, has in fact collected millions of dollars from government-owned entities in China since he took office. Forbes estimates that at least $5.4 million has flowed into the president’s business from a lease agreement involving a state-owned bank in Trump Tower.
The Industrial and Commercial Bank of China signed a lease for space in 2008, years before the president took office, paying about $1.9 million in annual rent. Trump is well-aware of the deal. “I’ll show you the Industrial Bank of China,” he told three Forbes journalists touring Trump Tower in 2015. “I have the best tenants in the world in this building.”
Trump moved from the skyscraper to the White House in 2017, but he held onto ownership of the retail and office space in the building, through his 100% interest in an entity called Trump Tower Commercial LLC. That put him in an unusual position, given that government-owned entities in China hold at least 70% of the Industrial and Commercial Bank of China. Suddenly, a routine real estate deal became a conduit for a foreign superpower to pay the president of the United States.
{snip}
4 replies
= new reply since forum marked as read
= new reply since forum marked as read
