Politics

Trump sold $35 million in real estate in 2018—over half came from a deal requiring HUD approval

WASHINGTON, DC - FEBRUARY 1: (AFP OUT) President Donald Trump holds an African American History Month listening session attended by nominee to lead the Department of Housing and Urban Development (HUD) Ben Carson (R), Director of Communications for the Office of Public Liaison Omarosa Manigault (L) and other officials in the Roosevelt Room of the White House on February 1, 2017 in Washington, DC. (Photo by Michael Reynolds - Pool/Getty Images)
Donald Trump with Department of Housing and Urban Development Secretary Ben Carson (Right)

Most of Donald Trump’s $35 million in real estate deals in 2018 came with a huge political footnote attached to them. A Forbes analysis found the largest deal, yielding $20 million to Trump, came from the sale of a $900 million federally subsidized housing complex in which the Trump Organization had a 4 percent stake. The Department of Housing & Urban Development had to approve the sale. In other words, the Trump Organization, which is still owned by Trump, needed permission from HUD, which reports to Trump as pr*sident, to turn a profit through a Brooklyn real estate deal. And guess what: HUD greenlit the deal.

Trump also took in another $5.5 million from 36 units sold in a 64-story Las Vegas tower. The catch? About a third of those units were bought by buyers hiding behind limited liability companies so they wouldn’t have to disclose their identities. In 2017, USA Today reported that during the two years before Trump became the GOP nominee, only 4 percent of Trump’s building units were acquired by LLCs. So now that Trump’s pr*sident, anonymous people are lining his pockets with real estate purchases cloaked through LLCs.

Remember when Trump made a big show of stacking up all the paperwork he was signing in order supposedly to clear up his conflicts of interest and forfeit management of his businesses? Yeah, he’s still getting that money.

Trump and his personal tax attorney Sheri Dillon speak talk about Trump transferring control of his businesses to his children.
Trump with attorney Sheri Dillon pretending to end his conflicts of interest 

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