US President Donald Trump earned royalty from real estate bets in India in 2016, says govt ethics document

Washington: US President Donald Trump received some income in the form of royalty from his real estate ventures in India, according to his latest annual financial disclosure form for the year 2016.

Trump has listed assets of at least $1.4 billion and income of more than $452 million, according to the form, a copy of which was released by the US Office of Government Ethics on Wednesday.

Trump submitted his discloser on Tuesday.

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File image of US president Donald Trump. AP

As per the financial discloser form, Trump had two incomes from his India real estate ventures. Both the income has been put in category of royalties.

Trump had an income in the range of $1 million-$5 million from DT Marks Worli LLC under a license deal with Jawala Real Estate Private Ltd and Lodha Developers Private Ltd. Notably the location of the deal has been mentioned as New York.

Similarly, Trump had an income in a range of $100,000- $1 million from the DT Tower Kolkatta LLC under a license deal with Concast Infrastructure Pvt Ltd, Tribeca Creators LLC, Regent Hirise Private Limited, Raj Construction Projects Private Limited, and Rob Realty and Infrastructure Limited. The location of this deal has been mentioned as Kolkatta.

Trump, however, had negligible (less than $201) from DT Tower Gurgaon LLC venture.

His other ventures in India, as listed in the forms, include DT India Venture Managing Member Corp, DT India Venture LLC, Trump Marks Mumbai LLC, Trump Marks Mumbai Member Corp, DT Marks Pune LLC, DT Marks Pune Managing Member Corporation, DT Marks Pune II LLC, DT Marks Pune II managing corporate, and DT Tower Gurgaon Managing Member Corporation.

The financial discloser form does not reveal any income from these ventures.


Updated Date: May 17, 2018 13:08 PM

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