Zach Everson is a Washington, DC-based staff writer at Forbes, reporting on money and politics. He's written about Donald Trump's legal problems and businesses, an ethics investigation into Alexandria Ocasio-Cortez and why Cornel West is broke. His feature on the Trump International Hotel Washington, D.C.
The former president pocketed $127 million when he sold his D.C. hotel in 2022. To close that deal, he had to lend the buyer a chunk of money that he’ll now never get back.n what seemed like a stroke of genius–or incredible luck– Donald Trump sold his money-losing D.C. hotel in 2022 and ended up with a handsome $127 million payday. But what few knew is that in order for that deal to happen, Trump had to step in with a loan.
In October 2016, two weeks before Trump won the presidency, the stately Trump International Hotel Washington D.C. celebrated its grand opening. The hotel quickly emerged as. In the year after Trump’s election, Republican political committees made at least 171 payments to the hotel, funneling $482,000 into the party leader’s pocket. By the end of the Trump administration, at least 29 of 38 members of Trump’s cabinet, officials from 33 foreign governments and 36 Senators were spotted there.
Friedman was right on both counts: The buyer, CGI Merchant Group, was based in Miami. And a financial disclosure Trump filed in October 2023 revealed that Despite the new ownership, not a whole lot changed in the immediate aftermath of the Trump hotel shuttering and re-emerging a month later as a Waldorf Astoria in June 2022. Other than its branding and different menu items, the hotel looked, felt and smelled just about identical to as it did before.
Trump International Hotel Washington DC Waldorf Astoria CGI Merchant Group General Services Agency GSA BDT & MSD Partners Old Post Office Bankrupt Hilton Worldwide
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Brings Back 2016 Campaign Manager Known for 'Letting Trump Be Trump'Corey Lewandowski will rejoin the campaign for the final sprint of the race.
Read more »
'Trump will be Trump': Morning Joe previews Harris-Trump debateThis is additional taxonomy that helps us with analytics
Read more »
Washington Post columnist admits fact-checkers were ‘ineffective’ in Trump era: Confused ‘opinion with fact'A Washington Post columnist admitted that fact-checkers in the age of Trump have been ineffective, pushed censorship and have undermined Americans' faith in institutions.
Read more »
Washington Post paying for ads on X featuring pro-Democrat, anti-Trump content, critics sayCritics are drawing attention to The Washington Post's ads on X and how they skew in favor of Democrats while always being negative about Republicans.
Read more »
July 2024 Inflation ReportSee multiple perspectives from CNBC, Washington Examiner, and Washington Post at AllSides.com.
Read more »
While voters think Kamala Harris has empathy, she struggles on key issues of economy: ANALYSISDonald Trump has similar issues per ABC News/Washington Post/Ipsos polling data.
Read more »