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    Hochul Amassed a Campaign Fortune. Here's Who it Came From.

    Gov. Kathy Hochul’s record-setting $21.6 million in donations flowed from a who’s who of New York’s special interests.Last November, when many of Manhattan’s skyscrapers sat half-empty, Gov. Kathy Hochul made a high-stakes wager on New York City’s commercial real estate industry: She vowed to move ahead with a marquee plan to restore Pennsylvania Station and erect new office towers around it.For Manhattan’s mega-rich real estate developers, the announcement signaled Ms. Hochul’s support for the kind of grand projects that foretell a windfall, and some found a concrete way of showing their approval to the new governor.In the weeks that followed, Ms. Hochul’s campaign received checks for $69,700, the legal limit, from some of the city’s biggest real estate executives, including Steven Roth of Vornado Realty Trust, which is positioned to directly benefit from the project that he once called a “Promised Land.” Other checks trickled in from developers, builders, engineers and even some who opposed it.The campaign contributions flowed from a broader spigot of cash turned on last fall by New York’s varied special interests, from real estate and building trades to hospitals, labor unions and gaming companies, directed toward Ms. Hochul’s election campaign.The donations included $200,000 in checks from the family behind a major construction firm with millions in state contracts, $47,000 that was tied to a gaming giant leaning on the state to expand legal gambling, and $41,000 traced back to a single Albany lobbyist.The funds helped Ms. Hochul, a moderate Democrat who unexpectedly ascended to office last August, assemble a record-setting $21.6 million war chest, and claim a steep advantage heading into June’s Democratic primary and November’s general election.People and industries with financial interests before the state have long been reliable donors to top elected officials, showering them with money that, at times, can pose ethical and legal problems.There has been no evidence that the contributions from Mr. Roth and other developers were directly related to Ms. Hochul’s Penn Station plan, but those and others may still prompt scrutiny about her decision-making as she negotiates the state’s $216 billion budget.“It’s not like this isn’t a problem, but it is a well-trod path,” said Blair Horner, the executive director of the New York Public Interest Research Group, which pushes for tighter campaign finance laws. “She’s just running through it instead of walking.”More than 95 percent of the funds she collected came from donors who gave $1,000 or more, according to a review of publicly available campaign filings, despite the Hochul campaign’s claims of success in pulling in small donations. Dozens of people wrote the governor checks for the legal maximum.Jerrel Harvey, a spokesman for Ms. Hochul’s campaign, pointed to contributions from every county in the state and said that the campaign was proud that her agenda “has resonated with a diverse coalition of supporters.”“In keeping with the governor’s commitment to maintain high ethical standards, campaign contributions have no influence on government decisions,” he said.Many of her donors are fixtures in New York politics and were stalwart supporters of her predecessor, Andrew M. Cuomo, who collected tens of millions of dollars in campaign contributions by often using the same tactics Ms. Hochul is employing. But where Mr. Cuomo had years to build those relationships and fill his campaign coffers, Ms. Hochul has done so in a matter on months.Few industries gave more — and frequently in large amounts — than real estate, where large developers are keenly watching how Ms. Hochul will not only approach large, state-funded capital projects but the future of the state’s affordable housing law.Douglas Durst, who oversees a multibillion dollar real estate empire and chairs the influential Real Estate Board of New York, gave her $55,000. The family of Scott Rechler, a top donor to Mr. Cuomo whose RXR Realty controls millions of square feet of commercial real estate, gave $60,000. Members of the Rudin, Tishman and Speyer families — whose names dot buildings across the city — collectively contributed more than $400,000. Top executives at Related Companies, the group behind Hudson Yards, maxed out.The new governor, who has cast herself as pro-business and greenlighted a rash of expensive capital projects amid an influx of federal funds, also quickly began collecting funds from the state’s construction industry. Hundreds of thousands of dollars came from unions, trade groups and executives representing bricklayers, sheet metal workers, engineers, elevator constructors, machine operators, construction companies and even a law firm that specializes in construction accidents.Hospitals, nursing homes and other health groups, who scored significant victories in Ms. Hochul’s budget, including retention bonuses for frontline health workers, gave hundreds of thousands of dollars, as well. Over two days in October and December, for example, more than 60 LLCs associated with nursing or rehabilitation homes all gave $1,000 or more apiece.Three family members associated with the Haugland Group, a Long Island construction and energy firm with lucrative state contracts at Kennedy Airport and with the Metropolitan Transportation Authority, gave more than $200,000 altogether.A Guide to the New York Governor’s RaceCard 1 of 5A crowded field. More

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    Eric Adams Has Plans for New York, Beyond Public Safety

    Mr. Adams, the Democratic mayoral nominee, has stances on policing, transportation and education that suggest a shift from Mayor Bill de Blasio.In the afterglow of winning the Democratic nomination for mayor of New York City, Eric Adams began to set out his mission if elected in November.“Safety, safety, safety,” Mr. Adams said in one interview. “Making our city safe,” he said in another.On Thursday, as a torrential storm flooded the city’s subway stations, Mr. Adams offered another priority: Fast-track the city’s congestion pricing plan, which would charge fees to motorists entering Manhattan’s core, so that the money could be used to make critical improvements to the aging system.The two initiatives encapsulate Mr. Adams’s self-characterization as a blue-collar candidate: Make the streets and the subway safe and reliable for New York’s working-class residents.But they also hint at the challenges that await the city’s next mayor.To increase public safety, Mr. Adams has said he would bring back a contentious plainclothes anti-crime unit that focused on getting guns off the streets. The unit was effective, but it was disbanded last year amid criticism of its reputation for using excessive force, and for its negative impact on the relationship between police officers and the communities they serve.Congestion pricing was opposed by some state lawmakers, who wanted to protect the interests of constituents who needed to drive into Manhattan. But even though state officials approved the plan two years ago, it has yet to be introduced: A key review board that would guide the tolling structure has yet to be named; its six members are to be appointed by the Metropolitan Transportation Authority, which is controlled by Gov. Andrew M. Cuomo.Mr. Adams, who would be the city’s second Black mayor, would face other steep challenges: steering the city out of the pandemic; navigating the possibility of a new City Council trying to push him to the left; grappling with significant budget deficits once federal recovery aid is spent.How he intends to accomplish it all is still somewhat theoretical, but he has offered a few concrete proposals — some costly, and with no set ways to pay for them — mixed in with broader ideas.Some of New York City’s mayoral transitions have reflected wild swings from one ideology to another. The current mayor, Bill de Blasio, ran on a promise to end the city’s vast inequities, which he said had worsened under his billionaire predecessor, Michael R. Bloomberg. The gentle and consensus-building David N. Dinkins was succeeded by Rudolph W. Giuliani, a hard-charging former federal prosecutor.Privately, Mr. de Blasio supported Mr. Adams in the competitive primary, believing that he was the person best suited to carry on Mr. de Blasio’s progressive legacy, and if Mr. Adams defeats the Republican nominee, Curtis Sliwa, an abrupt change in the city’s direction is unlikely.But in some ways, Mr. Adams has staked out positions on issues like affordable housing, transportation and education that suggest a shift from Mr. de Blasio’s approach.On policing, Mr. Adams, who has pledged to name the city’s first female police commissioner, has already spoken to three potential candidates, and is believed to favor Juanita Holmes, a top official who was lured out of retirement by the current police commissioner, Dermot F. Shea. Mr. Adams has also vowed to work with federal officials to crack down on the flow of handguns into the city, and he has expressed concerns about how bail reform laws, approved by state lawmakers in 2019, may be contributing to a recent rise in violent crime.On education, Mr. Adams is viewed as friendly toward charter schools and he does not want to get rid of the specialized admissions test that has kept many Black and Latino students out of the city’s elite high schools, a departure from Mr. de Blasio’s stance. He has also proposed opening schools year-round and expanding the universal prekindergarten program by offering reduced-cost child care for children under 3.Transportation and safety advocates hope that Mr. Adams, an avid cyclist, will have a more intuitive understanding of their calls for better infrastructure. He has promised to build 150 new miles of bus lanes and busways in his first term, and 300 new miles of protected bike lanes, a significant expansion of Mr. de Blasio’s efforts.Increasing the supply of affordable housing was a central goal of Mr. de Blasio’s administration, and Mr. Adams supports the mayor’s highly debated plan to rezone Manhattan’s trendy SoHo neighborhood to allow for hundreds of affordable units.Mr. Adams has said he supports selling the air rights to New York City Housing Authority properties to help finance improvements to authority buildings.  Hilary Swift for The New York TimesMr. Adams also supports a proposal to convert hotels and some of the city’s own office buildings to affordable housing units. The proposal originated with real estate industry leaders, who have watched their office buildings empty out during the pandemic.Mr. Adams favors selling the air rights above New York City Housing Authority properties to developers, an idea the de Blasio administration floated in 2018. Mr. Adams has said the sales might yield $8 billion, which the authority could use to pay for improvements at the more than 315 buildings it manages.Mr. Adams is viewed as pro-development — he supported a deal for an Amazon headquarters in Queens and a rezoning of Industry City in Brooklyn, both abandoned after criticism from progressive activists — and he was supported in the primary by real estate executives and wealthy donors.During his campaign, Mr. Adams met three times with the Partnership for New York City, a Wall Street-backed business nonprofit, according to Kathryn Wylde, the group’s president. Ms. Wylde expressed appreciation for Mr. Adams’s focus on public safety — a matter of great importance to her members — and confidence that he would be more of a check on the City Council, which she said was constantly interfering with business operations.“I think with Adams, we’ll have a shot that he will provide some discipline,” Ms. Wylde said. “Why? Because he’s not afraid of the political left.”Some of Mr. Adams’s stances have drawn criticism from progressive leaders like Representative Alexandria Ocasio-Cortez, who endorsed Maya Wiley in the Democratic primary.Alyssa Aguilera, an executive director of VOCAL-NY Action Fund, said that “having a former N.Y.P.D. captain in Gracie Mansion” only means “further protections and funding for failed law enforcement tactics.”“With that framework, it’s hard to believe he’s going to make any substantial changes to the size and scope of the N.Y.P.D. and that’s what many of us are hoping for,” Ms. Aguilera said.Mr. Adams, a former police officer, has expressed confidence that, under him, the Police Department could use stop-and-frisk tactics without violating people’s rights. Dakota Santiago for The New York TimesMr. Adams insists that even though he has been characterized as a centrist, he views himself as a true progressive who can meld left-leaning concepts with practical policies.To address poverty, for example, Mr. Adams has proposed $3,000 tax credits for poor families — an idea he said was superior to his primary rival Andrew Yang’s local version of universal basic income.“There’s a permanent group of people that are living in systemic poverty,” Mr. Adams said recently on “CBS This Morning.” “You and I, we go to the restaurant, we eat well, we take our Uber, but that’s not the reality for America and New York. And so when we turn this city around, we’re going to end those inequalities.”To deal with the homelessness crisis, Mr. Adams has proposed integrating housing assistance into hospital stays for indigent and homeless people, and increasing the number of facilities for mentally ill homeless people, especially those who are not sick enough to stay in a hospital but are too unwell for a shelter.Mr. Adams did not emphasize climate change or environmental issues on the campaign trail. But in his Twitter post about the subway flooding on Thursday, he called for using congestion pricing funds to “add green infrastructure to absorb flash storm runoff.”His campaign has pointed to initiatives from his tenure as borough president: helping to expand the Brooklyn Greenway, a coastal bike and walking corridor, not only for recreation but for flood mitigation; and improving accountability for the post-Hurricane Sandy reconstruction process. Those actions are dwarfed by the sweeping change he will be called on to oversee as mayor — particularly by a City Council with many new members who campaigned on a commitment to mitigate and prepare for the effects of rising seas and extreme weather on a port city with a 520-mile coastline.Mr. Adams expresses confidence that he can reinstate the plainclothes police squad and use stop-and-frisk tactics without violating people’s rights, contending that his administration can effectively monitor data related to police interactions in real time, and intervene if there are abuses.“We are not going back to the days where you are going to stop, frisk, search and abuse every person based on their ethnicity and based on the demographics or based on the communities they’re in,” Mr. Adams said on MSNBC last week. “You can have precision policing without heavy-handed abusive policing.”When some subway stations flooded on Thursday, Mr. Adams called for using money raised through a congestion pricing plan to make the system more resilient against bad storms. Fiona Dhrimaj, via ReutersMr. Adams seems most likely to differ from Mr. de Blasio on matters of tone and governing style.He is known for working round-the-clock, while Mr. de Blasio has been pilloried for arriving late to work and appearing apathetic about his job. Mr. de Blasio is a Red Sox fan who grew up in the Boston area and lives in brownstone Brooklyn; Mr. Adams, a lifelong New Yorker, was raised in Jamaica, Queens, by a single mother who cleaned homes. He roots for the Mets. Mr. Adams will come into office in a powerful position because of the diverse coalition he assembled of Black, Latino and white voters outside Manhattan.“De Blasio spoke about those communities; Eric speaks to the communities,” said Mitchell Moss, a professor of urban planning at New York University. “There’s a real difference. De Blasio was talented as a campaigner. Eric is going to be a doer.”Where Mr. de Blasio rode into City Hall as a critic of the police and a proponent of reform, he will end his term buried in criticism that he ultimately pandered to the department — a shift that many attribute to a moment, early in his tenure, when members of the Police Department turned their backs on him at an officer’s funeral.Officers were upset that Mr. de Blasio spoke about talking to his biracial son about how to safely interact with the police, a conversation that the parents of most Black children have. As mayor, Mr. Adams said he would gather with officers around the city for a different version of “the conversation.”“I’m your mayor,” Mr. Adams said he would tell officers. “What you feel in those cruisers, I felt. I’ve been there. But let me tell you something else. I also know how it feels to be arrested and lying on the floor of the precinct and have someone kick you in your groin over and over again and urinate blood for a week.”Mr. Adams will most likely be different from Mr. de Blasio in another way: He mischievously told reporters last week that he would be fun to cover. Indeed, he was photographed on Wednesday getting an ear pierced; the next day, he was seen dining at Rao’s, an exclusive Italian restaurant in Harlem, with the billionaire Republican John Catsimatidis.“He got his ear pierced and went to Rao’s,” Mr. Moss said. “He’s going to enjoy being a public personality.”Reporting was contributed by Anne Barnard, Matthew Haag, Winnie Hu, Andy Newman and Ali Watkins. More

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    Inside Stephen Ross' Plan to Influence New York’s Mayoral Race

    #masthead-section-label, #masthead-bar-one { display: none }N.Y.C. Mayoral RaceWho’s Running?5 TakeawaysCandidates’ N.Y.C. MomentsAn Overview of the RaceAdvertisementContinue reading the main storySupported byContinue reading the main storyInside a Billionaire’s Plan to Influence New York’s Mayoral RaceStephen Ross, the head of the Related Companies, is organizing a meeting of business leaders to “help us get this mayoral election right.”Stephen Ross said he hopes to boost voter turnout among “moderate thinking, pro-growth, and pro-jobs Democrats who typically do not vote in primaries.”Credit…Peter Foley/EPA, via ShutterstockMarch 9, 2021Updated 8:37 p.m. ETThe billionaire developer Stephen M. Ross is rallying fellow business leaders to commit tens of millions of dollars in an effort to push moderate Democrats to vote in the June mayoral primary in New York and “change the future course of the city.”Mr. Ross has scheduled a meeting for Monday to detail his plans to launch the super PAC to “help us get this mayoral election right,” according to an email he sent to colleagues that was reviewed by The New York Times.The campaign would not initially support a specific candidate, but Mr. Ross, the chairman and founder of Related Companies, stressed that the “winner of the Democratic primary for mayor in June will decide if NYC will rebound or languish.”The effort is the starkest example of business leaders using their money and influence to elect a pro-business mayor who would steer New York’s recovery from the pandemic, and to hurt the chances of progressive-leaning candidates whose positions — like slashing the Police Department budget and raising taxes on the rich — alarm many business leaders.“This is truly the most important election of our lifetime and in NYC’s history,” Mr. Ross wrote in the email. “Fortunately, we can do something to change the future course of the city we love.”Candidates considered more palatable to the business sector include Eric Adams, the Brooklyn borough president; Andrew Yang, a former presidential candidate; Kathryn Garcia, the former sanitation commissioner; Raymond J. McGuire, a former Wall Street executive; and Shaun Donovan, a former Obama administration cabinet member.Mr. Yang is the early front-runner, followed by Mr. Adams, according to a recent poll by Emerson College. Mr. McGuire, thought to be a favorite of some in the business community, was in eighth place in the poll.Via a spokesman, Mr. Ross did not rule out backing a particular candidate, when the time comes.But when asked who that candidate might be, Mr. Ross was circumspect.“The one who is best and can help all New Yorkers,” he said. More

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    Trump Financial Disclosure Reveals a Business Upended by the Coronavirus Pandemic

    #masthead-section-label, #masthead-bar-one { display: none }Capitol Riot FalloutLatest UpdatesInside the SiegeVisual TimelineNotable ArrestsCapitol Police in CrisisAdvertisementContinue reading the main storySupported byContinue reading the main storyTrump Financial Disclosure Reveals a Business Upended by the PandemicRevenues for the Trump Organization fell nearly 38 percent in 2020 as the coronavirus took a steep toll on the hospitality industry. Mar-a-Lago was a bright spot.Trump National Doral, a golf club outside Miami, saw revenue drop by more than 40 percent.Credit…Scott McIntyre for The New York TimesBen Protess, Steve Eder and Jan. 20, 2021, 7:22 p.m. ETOver the past year, former President Donald J. Trump’s family business suffered steep declines in revenue as the pandemic upended the nation’s hospitality industry, according to a financial disclosure report released hours after Mr. Trump departed office on Wednesday.The report detailed a revenue drop of more than 40 percent at Mr. Trump’s Doral golf club outside Miami, and a 63 percent decline at his signature hotel in Washington, just blocks from the White House. All told, the Trump Organization declared revenue of at least $278 million in 2020 and the early days of this year, a nearly 38 percent decline from the company’s reported 2019 results.The disclosure, which represents the final public snapshot of Mr. Trump’s finances, documents the toll the pandemic has taken on his luxury hospitality business, which essentially ground to a halt last spring when the coronavirus started sweeping through the country. Trump hotels and golf courses shuttered, and even after reopening, some faced restrictions on indoor dining and gatherings.“There were places that due to government mandates we were not able to operate,” Eric Trump, the former president’s son who helps run the business, said in an interview on Wednesday. “Those are places you are going to lose the season because of it.”The Trump Organization, he said, remained stable and had steady cash flow and relatively low debt compared with other real estate businesses — though as Mr. Trump left office, the company had more than $300 million in debt coming due in the next few years that the former president has personally guaranteed.The disclosure portends greater tumult ahead for the business, which has faced widespread shunning of its brand after the deadly Jan. 6 assault on the Capitol. The violent rioting by Mr. Trump’s supporters led to his second impeachment and prompted many of the company’s corporate partners — in banking, insurance, golf and real estate — to abandon it. Morgan Lewis, the law firm that handles its taxes, became the latest to distance itself from the Trumps on Wednesday, by indicating that it would not take on new business with Mr. Trump or the company.The scenes of rioters storming and looting the Capitol in Mr. Trump’s name, some of them armed and dressed in animal skins, also undermined the image of stately luxury that the Trump Organization had created and is expected to cost the president’s five-star hotels bookings and group outings.Revenue at the Trump hotel near the White House decreased by 63 percent.Credit…Stefani Reynolds for The New York TimesThe biggest blow came when the P.G.A. of America announced it would strip Mr. Trump’s New Jersey golf club of a major tournament, setting off a wave of other ruptures, including a decision by New York City to cancel contracts with the Trump Organization for two ice rinks, the Central Park Carousel and the Trump Golf Links in the Bronx.Even before the pandemic and the riot, the Trump presidency had complicated business for the Trump brand.For much of his term, the company was stuck in neutral as the family name was removed from several properties and potential new deals never emerged. Mr. Trump’s polarizing politics also appeared to create a red-blue divide, leaving his hotels in Democratic bastions like New York and Chicago struggling, while his golf club in North Carolina boomed..css-1xzcza9{list-style-type:disc;padding-inline-start:1em;}.css-c7gg1r{font-family:nyt-franklin,helvetica,arial,sans-serif;font-weight:700;font-size:0.875rem;line-height:0.875rem;margin-bottom:15px;color:#121212 !important;}@media (min-width:740px){.css-c7gg1r{font-size:0.9375rem;line-height:0.9375rem;}}.css-rqynmc{font-family:nyt-franklin,helvetica,arial,sans-serif;font-size:0.9375rem;line-height:1.25rem;color:#333;margin-bottom:0.78125rem;}@media (min-width:740px){.css-rqynmc{font-size:1.0625rem;line-height:1.5rem;margin-bottom:0.9375rem;}}.css-rqynmc strong{font-weight:600;}.css-rqynmc em{font-style:italic;}.css-yoay6m{margin:0 auto 5px;font-family:nyt-franklin,helvetica,arial,sans-serif;font-weight:700;font-size:1.125rem;line-height:1.3125rem;color:#121212;}@media (min-width:740px){.css-yoay6m{font-size:1.25rem;line-height:1.4375rem;}}.css-1dg6kl4{margin-top:5px;margin-bottom:15px;}.css-16ed7iq{width:100%;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-webkit-justify-content:center;-ms-flex-pack:center;justify-content:center;padding:10px 0;background-color:white;}.css-pmm6ed{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;}.css-pmm6ed > :not(:first-child){margin-left:5px;}.css-5gimkt{font-family:nyt-franklin,helvetica,arial,sans-serif;font-size:0.8125rem;font-weight:700;-webkit-letter-spacing:0.03em;-moz-letter-spacing:0.03em;-ms-letter-spacing:0.03em;letter-spacing:0.03em;text-transform:uppercase;color:#333;}.css-5gimkt:after{content:’Collapse’;}.css-rdoyk0{-webkit-transition:all 0.5s ease;transition:all 0.5s ease;-webkit-transform:rotate(180deg);-ms-transform:rotate(180deg);transform:rotate(180deg);}.css-eb027h{max-height:5000px;-webkit-transition:max-height 0.5s ease;transition:max-height 0.5s ease;}.css-6mllg9{-webkit-transition:all 0.5s ease;transition:all 0.5s ease;position:relative;opacity:0;}.css-6mllg9:before{content:”;background-image:linear-gradient(180deg,transparent,#ffffff);background-image:-webkit-linear-gradient(270deg,rgba(255,255,255,0),#ffffff);height:80px;width:100%;position:absolute;bottom:0px;pointer-events:none;}#masthead-bar-one{display:none;}#masthead-bar-one{display:none;}.css-1cs27wo{background-color:white;border:1px solid #e2e2e2;width:calc(100% – 40px);max-width:600px;margin:1.5rem auto 1.9rem;padding:15px;}@media (min-width:740px){.css-1cs27wo{padding:20px;}}.css-1cs27wo:focus{outline:1px solid #e2e2e2;}.css-1cs27wo[data-truncated] .css-rdoyk0{-webkit-transform:rotate(0deg);-ms-transform:rotate(0deg);transform:rotate(0deg);}.css-1cs27wo[data-truncated] .css-eb027h{max-height:300px;overflow:hidden;-webkit-transition:none;transition:none;}.css-1cs27wo[data-truncated] .css-5gimkt:after{content:’See more’;}.css-1cs27wo[data-truncated] .css-6mllg9{opacity:1;}.css-k9atqk{margin:0 auto;overflow:hidden;}.css-k9atqk strong{font-weight:700;}.css-k9atqk em{font-style:italic;}.css-k9atqk a{color:#326891;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccd9e3;}.css-k9atqk a:visited{color:#333;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ddd;}.css-k9atqk a:hover{border-bottom:none;}Capitol Riot FalloutFrom Riot to ImpeachmentThe riot inside the U.S. Capitol on Wednesday, Jan. 6, followed a rally at which President Trump made an inflammatory speech to his supporters, questioning the results of the election. Here’s a look at what happened and the ongoing fallout:As this video shows, poor planning and a restive crowd encouraged by President Trump set the stage for the riot.A two hour period was crucial to turning the rally into the riot.Several Trump administration officials, including cabinet members Betsy DeVos and Elaine Chao, announced that they were stepping down as a result of the riot.Federal prosecutors have charged more than 70 people, including some who appeared in viral photos and videos of the riot. Officials expect to eventually charge hundreds of others.The House voted to impeach the president on charges of “inciting an insurrection” that led to the rampage by his supporters.One bright spot in 2020 was Mar-a-Lago, Mr. Trump’s private club in Florida and his intended new residence. Revenues at Mar-a-Lago rose from $21.4 million to $24.2 million, an increase of 13 percent. The company’s retail business also grew, more than doubling its revenues to nearly $2 million.The Trump golf business saw mixed results. While many of the courses had losses of 10 percent or more, revenues rose at clubs in West Palm Beach, Fla., and another near Charlotte, N.C., as golf became a popular outdoor escape from the dangers of Covid-19.But at Doral, Mr. Trump’s biggest revenue generator, revenues fell from $77.2 million in 2019 to $44.2 million, down nearly 43 percent.Trump Turnberry, a golf club in Scotland, had a significant downturn last year. Revenue fell from $25.7 million to $9.8 million, about 62 percent, as Scottish authorities closed it because of the virus.Some of the Trump Organization’s biggest declines came in its hotel business, as the virus halted travel and the company cut back on staff to stem its losses. The hotel in Washington, which the Trumps had considered selling before the pandemic, was particularly hard hit. The restaurant and the famed hotel lobby — long a gathering place for lobbyists, White House aides and other Trump supporters — have been closed for extended periods over the past year, and hotel occupancy is down significantly.Mr. Trump reported assets worth at least $1.3 billion, down slightly from 2019.He also reported receiving 10 gifts, including an Ultimate Fighting Championship belt, golf gear, a leather bomber jacket and a computer from Tim Cook, the chief executive of Apple, worth $5,999.Eric Lipton contributed reporting.AdvertisementContinue reading the main story More