According to documents from the Federal Election Commission, which were seen by Forbes, Trump has transferred money raised for his campaign through donors to the Trump Organization.
Although Trump made zero contributions for his campaign expenses as he fought for reelection, he is said to have moved about $2.8 million into the Trump Organization. It is said that an estimated $81,000 were transferred after he lost the election.
Funds were also shifted from a joint-fundraising committee which partnered with the Republican party. During the period January 20, 2017 to December 31, 2020 approximately $4.3 million of the committee’s funds, which were raised from donors, was shifted into Trump’s businesses. This money was used to cover the cost of rent, for lodging, for traveling inclusive of airfare as well as other expenses.
All these expenses are available as filings that were given to the Federal Election Commission. Incidentally an estimated $331,000 of the total $4.3 million were transferred to the Trump Organization after the elections were over.
Many other smaller amounts totalling around $70,000 were paid to a company called DT Endeavor LLC. This company has its addresses in two places, once in Trump Tower and the other in Mar-a-Lago. There is no clarity on who owns the company.
However payments (including $3000) to Trump Restaurants LLC was made after the elections as well. Trump Tower LLC also received over $38,000 in lieu of rent. Trump Tower Commercial LLC also got $38,000. The total post election fund transfers from the campaign as well as the joint-fundraising committee reached $413,000, without adding the funds that were disbursed to DT Endeavour LLC.
There is a detailed filing available with the Federal Election Commission. When asked for comments by Forbes neither the Republican Party nor any spokesperson from the Trump Organization gave any replies.
Earlier in July, the Washington Post’s David Fahrenthold said that the Trump campaign gave 400,000 to the Trump Organization in forty eight hours.
The former president allegedly has huge debts that could be up to $400 million, however his assets are allegedly worth several billions.