Trump earned $1 million from Trump Towers Istanbul in two years, report reveals
The New York Times reported on Sept. 28 that Trump Towers Istanbul has netted U.S. President Donald Trump $1 million in 2016 and 2017. Trump has long had business ties in and with Turkey, the most visible example being the Trump Towers Istanbul, which licenses the Trump name.
Duvar English
The New York Times reported on Sept. 28 that U.S. President Donald Trump earned $1 million in Turkey from putting his name on two towers in Istanbul.
Thereport said that duringhis first two years as president, Trump received $73 million fromforeign operations. These included his golf properties in Scotlandand Ireland as well as $3 million from the Philippines, $2.3 millionfrom India and $1 million from Turkey — among other nations.
Trumphas long had business ties in and with Turkey, the most visibleexample being the Trump Towers Istanbul, which licenses the Trumpname.
TheTrump Organization describes the buildings on its website as “alandmark in the historic city of Istanbul” and it is theorganization’s first and only office and residential tower inEurope, with offices, apartments and upscale shops.
TurkishPresident Recep Tayyip Erdoğan had attended the opening ceremony ofthe office and residential towers back in 2012.
MehmetAli Yalçındağ, chairman of Turkey’s oldest state-sponsored tradegroup, the Turkey-US Business Council, had partnered with DonaldTrump and his daughter Ivanka Trump on the Trump Towers Istanbuldeal.
The New York Times report also said that Trump did not pay any federal income tax in 10 of the last 15 years.
He only paid $750 federal income tax the year he took office in the White House in 2016, and another $750 the year after in 2017, the newspaper said. The report also raises doubts about Trump’s self-image as a shrewd and successful businessman.
TheNew York Times alleges that Trump paid almost no taxes on thesesizeable earnings, because he reported that the businesses that heowns and runs made significant losses.