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.
The report said that during his first two years as president, Trump received $73 million from foreign operations. These included his golf properties in Scotland and Ireland as well as $3 million from the Philippines, $2.3 million from India and $1 million from Turkey — among other nations.
Trump has long had business ties in and with Turkey, the most visible example being the Trump Towers Istanbul, which licenses the Trump name.
The Trump Organization describes the buildings on its website as “a landmark in the historic city of Istanbul” and it is the organization’s first and only office and residential tower in Europe, with offices, apartments and upscale shops.
Turkish President Recep Tayyip Erdoğan had attended the opening ceremony of the office and residential towers back in 2012.
Mehmet Ali Yalçındağ, chairman of Turkey’s oldest state-sponsored trade group, the Turkey-US Business Council, had partnered with Donald Trump and his daughter Ivanka Trump on the Trump Towers Istanbul deal.
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.
The New York Times alleges that Trump paid almost no taxes on these sizeable earnings, because he reported that the businesses that he owns and runs made significant losses.