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Trump Organization worth one tenth of value previously reported | Trump Organization worth one tenth of value previously reported |
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The Trump Organization in New York is reportedly worth one tenth of the value it previously claimed. | The Trump Organization in New York is reportedly worth one tenth of the value it previously claimed. |
Donald Trump's family business had previously ranked near the top of Crain's New York Business' list of largest privately held companies. | Donald Trump's family business had previously ranked near the top of Crain's New York Business' list of largest privately held companies. |
But this year it has fallen from number three to number 40 after the President disclosed the organisation's revenue to federal regulators. | But this year it has fallen from number three to number 40 after the President disclosed the organisation's revenue to federal regulators. |
While the Trump Organization claimed $9.5bn (£7.2bn) in sales last year, Mr Trump's public filings suggest revenues of less than a tenth of that amount, between $600m (£450m) and $700m (£530m). | While the Trump Organization claimed $9.5bn (£7.2bn) in sales last year, Mr Trump's public filings suggest revenues of less than a tenth of that amount, between $600m (£450m) and $700m (£530m). |
The Crain's reporter who covered the story suggested to WNYC that he felt he had been misled following the revelation. | |
“It was obviously important to Donald to have his company at the top of the list and I don't know why he felt that way but the numbers that he presented are just flagrantly untrue,” Aaron Elstein said. | “It was obviously important to Donald to have his company at the top of the list and I don't know why he felt that way but the numbers that he presented are just flagrantly untrue,” Aaron Elstein said. |
It comes after a YouGov poll revealed the President's signature hotel chain sat near the bottom of customer perception rankings. | It comes after a YouGov poll revealed the President's signature hotel chain sat near the bottom of customer perception rankings. |
Republicans were found to hold low positive opinions about Trump Hotels and Resorts, while independents and Democrats held negative views, with Democrats having the lowest perceptions. | Republicans were found to hold low positive opinions about Trump Hotels and Resorts, while independents and Democrats held negative views, with Democrats having the lowest perceptions. |
Ethics experts have warned Mr Trump's global financial holdings could clash with his public duties. | Ethics experts have warned Mr Trump's global financial holdings could clash with his public duties. |