Trump invested $250,000 in company behind controversial Keystone XL pipeline
Republican presidential candidate Donald Trump invested $250,000 in the holding company that wants to build the controversial Keystone XL tar sands pipeline, according to his financial disclosures.
The disclosure comes from 92 pages of documents filed with the Federal Election Commission that were made public on Wednesday and reveal Trump’s massive financial holdings.
Trump, 69, was often critical of the Obama administration for not granting a permit for the pipeline, which would’ve been constructed by TransCanada Pipelines.
“It’s an outrage our president isn’t approving the Keystone pipeline,” he told the Toronto Sun in 2011 through a spokeswoman. “And Canada is lucky to have superior leadership to ours.”
The pipeline was first proposed in 2008 and would carry oil for 1,179 miles, from Canada’s tar sands to Nebraska, where it would connect to an existing pipeline and continue traveling south to Texas. Environmentalist and Native American tribes have fought the proposal, while proponents argue it will create jobs.
Obama vetoed bipartisan legislation in February that would have approved the project, saying the bill would “circumvent” the process for reviewing the pipeline. The State Department is seeking input on the project's potential environmental fallout from the Environmental Protection Agency and the Interior Department.
The disclosures mark the first time Trump has publicly tallied his holdings. Findings show he has property and entertainment holdings that span the globe, from Panama, Istanbul, Mumbai, Puerto Rico and Dubai.
The filings, while not precise, suggest his assets are worth at least $1.5 billion, according to the Wall Street Journal, although the candidate has said he is worth more than $10 billion. Trump’s campaign said last week his income for 2014 alone was $362 million, without dividends, interest or royalties.
The document also lists 515 companies, many limited liability corporations attached to his real-estate holdings, where Trump is a trustee, president, chairman or member.
Forms also show that Trump owns gold. This isn’t gold futures or an exchange-traded fund that tracks the price of gold, but the real 18ct kind, according to Mother Jones.
Trump, who has been insulting other Republican candidates left and right lately, made sure to take the Federal Election Commission to task for its reports’ failure to reflect just how “massive” his fortune is.
"This report was not designed for a man of Mr. Trump's massive wealth," said a Trump spokesman on July 15, when Trump filed his disclosure form, according Business Insider.
"For instance, they have boxes once a certain number is reached that simply state $50 million or more. Many of these boxes have been checked. As an example, if a building owned by Mr. Trump is worth $1.5 billion, the box checked is '$50,000,000 or more.’