The Trump Organization

The Trump Organization is a group of about 500 business entities of which Donald Trump is the sole or principal owner.[5] About 250 of these entities use the Trump name.[6][7] The organization was founded in 1923 by Donald Trump's grandmother, Elizabeth Christ Trump, and father, Fred Trump, as E. Trump & Son. Donald Trump began leading it in 1971, renamed it around 1973, and handed off its leadership to his children in 2017.

The Trump Organization
Private
IndustryConglomerate
Founded1923 (1923)
(as E. Trump & Son)
Founders
HeadquartersTrump Tower, New York City
Area served
Worldwide
Key people
Services
RevenueUS$655 million (Estimate, 2017)[3]
OwnerDonald Trump
Number of employees
22,450 (2015)[4]
Websitewww.trump.com
This article is part of
a series about
Donald Trump
Incumbent
Presidential campaigns
Interactions involving Russia
Business and personal

The Trump Organization, through its various constituent companies and partnerships, has or has had interests in real estate development, investing, brokerage, sales and marketing, and property management. Trump Organization entities own, operate, invest in, and develop residential real estate, hotels, resorts, residential towers, and golf courses in various countries.[6][7][8] They also operate or have operated in construction, hospitality, casinos, entertainment, book and magazine publishing, broadcast media, model management, retail, financial services, food and beverages, business education, online travel, commercial and private aviation and beauty pageants.[9][10] Trump Organization entities also own the New York television production company that produced the reality television franchise The Apprentice.[11] Retail operations include or have included fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, vodka, wine, barware, steaks, chocolate bars, and bottled spring water.[12]

Since the financial statements of the Trump Organization's holdings and Donald Trump's personal tax returns are both private, its true value is not publicly known, though a wide range of estimates have been made. Trump has publicly released little definitive financial documentation to confirm his valuation claims.[13][14]

On several occasions, Trump has been accused of deliberately inflating the valuation of Trump Organization properties through aggressive lobbying of the media (in particular the authors of the annual Forbes 400 list) to bolster his perceived net worth.[15]

History

Founding and early history
An early logotype of the Trump Organization, as it appeared in 1976 correspondence from Donald Trump to the Penn Central Transportation Company

The company's background starts with Frederick Trump and Elizabeth Christ Trump, a German immigrant couple who moved to the borough of Queens in 1906. Frederick began developing real estate there. On May 30, 1918, he died of Spanish flu in the 1918 influenza pandemic, leaving an estate valued at $31,359[16] (or about $535,381 in 2020).

Elizabeth carried on in the real estate business after her husband's death. She had contractors build houses on the empty lots Frederick had owned, sold the houses, and lived off the mortgage payments.[17] Her vision was to have her three children continue the family business.[17] Her middle child, Fred Trump, began construction of his first house in 1923, soon after graduating high school.[18] Elizabeth partially financed Fred's houses,[19] and held the business in her name because Fred had not reached the age of majority.[18] They did business as "E. Trump & Son", building hundreds of houses in Queens over the next several years.[20][lower-alpha 1] E. Trump & Son went out of business during the Great Depression.[27] In 1933, Fred Trump opened a supermarket, but quickly sold it and returned to the real estate business.[28][29]

Around this same time, Fred Trump and a partner acquired the mortgage-servicing subsidiary of Brooklyn's J. Lehrenkrauss & Co., which had gone bankrupt and subsequently been broken up amid charges of fraud. This gave Trump access to the titles of many properties nearing foreclosure, which he bought at low cost and sold for a profit. Trump was quickly thrust into the limelight as one of New York City's most successful businessmen.[30][31] In 1935, the company moved to Brooklyn,[31] where, in addition to Queens, Trump was a prolific builder of single-family homes.[32]

During World War II, Trump constructed apartments and temporary housing for military personnel in Virginia and Pennsylvania.[32] In 1944, he shifted his focus back to Brooklyn and began planning to develop large apartment buildings.[33] He opened the 1,344-unit Shore Haven complex in 1949,[34] followed by Beach Haven in 1950[35] and Trump Village in 1964.[36]

Elizabeth remained involved in the family business throughout her life. Even in her 70s, she collected coins from the laundromats in the Trump buildings.[17]

Leadership under Donald Trump

Donald Trump worked for his father's business while attending the University of Pennsylvania, and in 1968 officially joined the company.[37] In the early 1970s, Donald was made president of the company, while Fred became chairman of the board.[38] Around 1973, Donald began referring to the business, which had previously had no single formal name, as the Trump Organization.[lower-alpha 2]

Donald Trump focused his efforts on major development projects in Manhattan, including the renovation of the Commodore Hotel, in partnership with Hyatt, as the Grand Hyatt New York (opened in 1980);[44] the construction of Trump Tower in partnership with The Equitable (1983);[45] and the development of Trump Plaza (1984).[46][47] He also opened three casino hotels in Atlantic City, New Jersey: Trump Plaza (1984),[48] Trump Castle (1985),[49] and Trump Taj Mahal (1990).[50]

In 1990, the Trump Organization approached a financial crisis and was believed to be on the brink of collapse, with Donald Trump and his companies owing estimated debts of $3.4 billion.[51] Trump hired Stephen Bollenbach as the company's first chief financial officer, while Allen Weisselberg continued to serve under him as controller.[52][53] Trump spent the following years renegotiating his debts, and gave up some properties, including the Trump Shuttle airline and a stake in the Plaza Hotel in Manhattan.[54] Bollenbach left the company in 1992.[55] In 1995, Trump took another major step towards financial stability, launching a publicly traded company for the Trump casinos, Trump Hotels & Casino Resorts.[54][56] By 1996, Trump was widely considered to be making a comeback.[54][57] The casino company did not fare as well, however, and Trump eventually lost his stake in the company to bankruptcy.[58][59]

In 1997, Fred Trump transferred ownership of the bulk of his portfolio of apartment buildings to his four surviving children (Donald, Robert, Maryanne, and Elizabeth).[60] Fred died in 1999.[35] In 2004, the four siblings sold the apartments for $700 million to a group led by Rubie Schron, marking the family's exit from ownership of their father's business.[61][62][63]

Trump presidency

Donald Trump relinquished his role in the Trump Organization after the 2016 election.[64] On January 11, 2017, he announced that he and his daughter Ivanka would fully resign and his sons Donald Jr. and Eric would take executive charge of the various businesses, along with Chief Financial Officer (CFO) Allen Weisselberg.[65]

Trump retained his financial stake in the business, despite having offered during the campaign to put all his assets in a "blind trust" should he win the presidency.[66][67] His attorney at the time, Sheri Dillon, said Trump's assets would be overseen by an ethics officer, and that the Trump Organization would not pursue any new foreign business deals.[68]

Under the pre-inaugural management agreement, Forbes magazine reported in March 2017:

The Trump Organization has curtailed some of its international work, pulling out of deals in Azerbaijan, Georgia and Brazil, while pledging to do no new foreign deals (though it has apparently resurrected an old deal in the Dominican Republic). Trump's international hotel licensing and management business makes up only $220 million of his estimated $3.5 billion fortune, but it's the most dynamic part of the Trump portfolio—and it throws off chunks of cash with virtually no risk. As the Trumps have wound down some international deals, they continue to push forward with new domestic agreements.

Eric Trump, in the Forbes article, discussed the "clear separation of church and state that we maintain" between the business and his father and said that with his father's presidency and related changes "[y]ou could look at it either way" in terms of business prospects. He also said that "he will continue to update his father on the business while he is in the presidency ... 'probably quarterly ... profitability reports and stuff like that'." The article quoted Larry Noble, general counsel of the nonpartisan Campaign Legal Center and a former chief ethics officer at the Federal Election Commission, and President George W. Bush's former chief ethics lawyer, Richard Painter, as looking negatively at such multiple planned updates of President Trump per year.[69] Noble said in part "if he is now going to get reports from his son about the businesses, then he really isn't separate in any real way." Painter said in part "at the end of the day, he owns the business. He has the conflicts that come with it."[69]

Also in March 2017, Forbes did a listing of all "36 mini-Trumps", as it termed the domestic and international partners—often described as "billionaires"—with whom the Trump Organization has worked over the years. Introducing the listing, the magazine reported that at least 14 of the partners attended the president's inauguration and some of them paid for $18,000-a-night accommodations at the Trump International Hotel in Washington, D.C., for the event.[70]

In April 2020, amid the COVID-19 pandemic in the United States, Eric Trump stated that the Trump Organization had requested rental relief from the landlord for its Trump International Hotel, which is the General Services Administration of the federal government.[71]

Real estate
Map highlights countries with properties that are either owned or licensed by the Trump Organization as of December 2016.[72][73]

As of 2019, Trump's net worth (as estimated by Forbes Magazine) is $3.1 billion, with about half of that coming from his New York City real estate holdings, and about a third coming from his national and international properties (including hotels and golf courses).[74] Licensing fees paid by outside owners for using Trump's name on their properties also contribute to his overall net worth[75][76]

Selected completed properties
The Trump World Tower at United Nations Plaza
The Trump International Hotel and Tower (New York City) at Columbus Circle
  • Trump Tower, 725 Fifth Avenue, Midtown Manhattan: A 58-story[77] mixed-use tower, the headquarters of the Trump Organization, was developed in partnership with The Equitable, and opened in 1983. Trump bought out the Equitable's stake in 1986,[78] and now owns the office and retail components of the tower.[79] The building also contains the three-story penthouse apartment that was Donald Trump's primary residence until he moved to the White House.[80] The value of the tower was estimated at $450 million in 2017.[81] Trump took out a $100 million mortgage on the building in 2012.[79]
  • Trump World Tower, 845 United Nations Plaza, also in Midtown Manhattan: In 2006, Forbes magazine estimated "$290 million in profits and unrealized appreciation" going to Trump.[82]
  • AXA Financial Center in Manhattan and 555 California Street in San Francisco: Trump owns a 30 percent stake in these two office buildings, resulting from a property swap involving Riverside South. Trump's stake in the two buildings was estimated to be at least $850 million as of 2013.[79]
  • The Trump Building at 40 Wall Street: Trump bought and renovated this building for $1 million in 1995. The pre-tax net operating income at the building as of 2011 was $20.89 million and is valued at $350 million to $400 million, according to the New York Department of Finance. Trump took out a $160 million mortgage attached to the property with an interest rate of 5.71% to use for other investments.[79] Forbes valued the property at $260 million in 2006.[82]
  • Trump International Hotel and Tower Chicago: The entire project is valued at $1.2 billion ($112 million stake for Trump).
  • Trump International Hotel Las Vegas: A joint development with fellow Forbes 400 members, Phil Ruffin ("key partner"), and Jack Wishna ("minority partner").[83] In 2006, Trump's stake was estimated at $162 million.[82] In Forbes in March 2017, the Trump International Las Vegas was described as a 50-50 partnership between Donald Sr. and Ruffin, with Eric as the primary manager for the Trump Organization.[69]
  • Trump International Hotel and Tower New York: Trump provided his name and expertise to the building's owner (GE) during the building's re-development in 1994 for a fee totaling $40 million ($25 million for project management and $15 million in incentives deriving from the condo sales). Forbes values Trump's stake at $12 million. In March 2010, the penthouse apartment at Trump International Hotel & Tower in New York City sold for $33 million.[84][85]
  • Trump Park Avenue Park Avenue & 59th Street: It is valued at $142 million. Trump owns 23 apartments at Trump Park Avenue, which he rents for rates as high as $100,000 per month, and 19 units at Trump Parc.[79]
  • 6 East 57th Street: Trump has a leasehold interest on this retail building, adjacent to Trump Tower, through the year 2079.[86] The building was occupied by a Niketown store from 1996 to 2018.[86][87] The value of Trump's interest was estimated at $470 million as of 2015.[88]
  • Mar-a-Lago: A historic estate in Palm Beach, Florida, most of which was converted by Trump into a members-only resort. The property was worth as much as $250 million as of 2013.[79] Trump also owns two neighboring private houses, valued at $6.5 million and $3 million.[79]
  • Seven Springs: A 213-acre (86 ha) estate with a 13-bedroom mansion near Bedford, New York. Trump paid $7.5 million for the property in 1995.[89] Local brokers put the property's value at around $40 million as of 2013.[79] Trump had hoped to develop the land with a golf course or houses, but apparently abandoned those plans in 2015.[89]
  • Beverly Hills house: A 5-bedroom home purchased by Trump in 2007 for $7 million,[90] and valued at $8.5 to $10 million as of 2013.[79]
  • Trump International Hotel Washington, D.C.: The Old Post Office Pavilion, historically known as the Old Post Office and Clock Tower, is a property located at 1100 Pennsylvania Avenue NW in Washington, D.C. The Trump Organization developed the property into a luxury hotel, which opened in September 2016.

The Trump Organization operates the Central Park Carousel, a merry-go-round located in Manhattan's Central Park. In 2010, Trump took over the management of the carousel, where he promised to revive the merry-go-round after its previous operator was removed by the city's parks department. The carousel generates $589,000 from annual admissions.[91][92][93] The Trump Organization has a contract to operate the carousel through 2021.[94]

Skating rinks
Wollman Rink, Central Park

The Trump Organization operates the Wollman and Lasker rinks, both in Central Park, jointly with Rink Management Services of Mechanicsville, Virginia.[95][96] In 1986, Trump offered New York City mayor Ed Koch to rebuild the deteriorating Wollman Rink at his expense within six months in return for the leases to operate the rink and an adjacent restaurant to recoup his costs.[97][98] The work was completed two months ahead of schedule and $750,000 under the estimated costs.[97][99] As part of the agreement to keep operating Wollman Rink, Trump agreed to also take a concession for the Lasker Rink as well, and the Trump Organization won concessions for the rinks in 1987.[100]

The Trump Organization and Rink Management Services won the concessions to operate both rinks when the concessions were renewed in 2001. The Trump name is prominently displayed on the walls of the Wollman Rink as well as on the Zamboni that maintains it. It generates close to $8.7 million in annual income from rink admissions.[101][91][92] The Trump Organization has a contract to operate the rinks through 2021.[94]

Trump Winery

Trump Winery is a winery situated on Trump Vineyard Estates near Charlottesville, Virginia. It is valued between $5 million to $25 million.[101]

The vineyard was purchased by Trump in April 2011 from Patricia Kluge, the widow of John Kluge. The property was distressed.[102] and was officially opened in October 2011.[103] Trump Winery is situated in the Monticello Wine Trail. Trump's son Eric was a partner in the purchase.[104]

After purchasing the property, Trump turned over management of the winery to his son.

Golf courses
Main article: Donald Trump and golf

The Trump Organization owns or manages seventeen golf courses in the United States, Scotland, Ireland, and the United Arab Emirates.[105] As of 2015, Trump listed income of at least $176 million in an 18-month span from his golf courses—about 41% of the low-end estimate of his income.[101]

United States
Trump National Golf Club, Los Angeles
Trump Turnberry golf course, Scotland
  • Trump Golf Links at Ferry Point, Bronx, New York (management only)[106]
  • Trump International Golf Club, West Palm Beach, Florida
  • Trump National Doral Miami: An 800-acre (320 ha) resort with five golf courses, 700 hotel rooms, a spa, meeting spaces, and retail outlets. Trump bought the property out of bankruptcy in 2012 for $150 million, and has spent over $250 million on renovations.[107] Its value has been estimated at over $1 billion, and there was a $125 million mortgage on the property as of 2013.[79]
  • Trump National Golf Club, Bedminster, New Jersey
  • Trump National Golf Club, Charlotte, North Carolina
  • Trump National Golf Club, Colts Neck, New Jersey
  • Trump National Golf Club, Hudson Valley, New York
  • Trump National Golf Club, Jupiter, Florida
  • Trump National Golf Club, Los Angeles
  • Trump National Golf Club, Philadelphia
  • Trump National Golf Club, Washington, D.C.
  • Trump National Golf Club, Westchester, New York

International
  • Trump International Golf Club, Dubai: A golf course owned by Damac Properties and managed by the Trump Organization.[108] Located in the Damac Hills residential development, it opened in 2017.[108] Trump's involvement with Damac head Hussain Sajwani has been cited as a source of possible conflicts of interest for Trump's presidency.[109][110]
  • Trump International Golf Links and Hotel Ireland
  • Trump International Golf Links, Scotland: A links course built in Balmedie, Aberdeenshire. The development of the course was controversial because of local concerns about the environmental impact, as well as a legal battle over the construction of a nearby offshore wind farm.
  • Trump Turnberry: A historic golf resort with three courses and a hotel, located in South Ayrshire, Scotland. Trump purchased the property in 2014, despite having threatened to withdraw any further investment in Scotland amid the wind farm controversy.[111]
  • Trump World Golf Club, Dubai: A second golf course under construction by Damac in its Akoya Oxygen housing development.[112] The course, designed by Tiger Woods, is expected to open in 2018.[112]

Real estate licensing
Trump International Hotel, Las Vegas
The former Trump International Hotel & Tower, Toronto

Many developers pay Donald Trump to market their properties and be the public face for their projects.[113] For that reason, Trump does not own many of the buildings that display his name.[113] According to Forbes, this portion of Trump's empire, actually run by his children, has valuation of $562 million. According to Forbes, there were 33 licensing projects under development including seven "condo hotels" (the seven Trump International Hotel and Tower developments). Trump has generated more than $74 million in real estate licensing deals and has $823.3 million worth of real estate in joint ventures.[79]

  • Manhattan:
    • Trump Palace: 200 East 69th Street, New York, NY.
    • Trump Parc and Trump Parc East: Two adjoining buildings on Central Park South on the southwest corner of The Avenue of the Americas. Trump Parc East is a 14-story apartment building and Trump Parc (the former Barbizon Plaza Hotel) is a 38-story condominium building.
    • Trump Plaza: 167 East 61st Street, New York, NY (36-story, Y-shaped plan condominium building on the Upper East Side)
    • 610 Park Avenue (Old Mayfair Hotel): Trump is helping with the construction and development of this property for Colony NorthStar.
    • Trump SoHo: Former name of The Dominick, originally a partnership with Bayrock Group. The SoHo hotel was rebranded following The Trump Organization's exit from the project.[114] "Russian-born" Felix Sater was listed as an employee of Bayrock when the partnership was born. Sater had served time in prison for injuries he inflicted in a bar fight before the Soho partnership.[70]
  • New York City suburbs:
  • Florida:
    • Trump International Hotel and Tower Fort Lauderdale: Anticipated completion was 2007. Trump "decided to pull his name from the marquee and end his agreement with the developers" in 2009[116] and the developers defaulted on a $139 million loan in 2010, leaving the building faced with foreclosure.[117] In November 2010, Trump announced he was no longer affiliated with the project.[118]
    • Trump Towers Sunny Isles Beach (Sunny Isles Beach, Florida): An oceanfront condominium development consisting of three 271-unit towers with developer Dezer Properties.
    • Trump Grande Ocean Resort and Residences: A three-building oceanfront enclave consisting of the Trump International Beach Resort and two residential condominium towers, the Trump Palace and Trump Royale, with developer Dezer Properties.
    • Trump Hollywood, a 200-unit, 41-story condominium tower in Hollywood, Florida,[119] developed by Jorge M. Pérez and The Related Companies. Announced in 2006 and began construction a year later.[120][121] Opened in 2009 and foreclosed the following year,[122][123][124] before selling out in 2012.[119]
    • Trump Tower: Cancelled project in Tampa, Florida.
  • Other domestic:
  • International:
    • Elite Tower, Ramat Gan, Israel was a planned commercial real estate development slated to be the tallest building in Israel. Called the Trump Plaza Tower, Trump shelved the plans in 2007, when the site was sold on to Azorim for NIS 306.5 million.[129][130] Trump purchased the site for $44 million.[131]
    • Trump International Hotel & Tower Lido Lake, West Java, Indonesia. Trump Hotels will be involved with the 700-hectare Lido Lake development, one hour from Bandung, Indonesia including a six-star luxury resort, 18-hole signature Ernie Els championship golf course, elite Lifestyle Country Club & Spa as well as a high-end residential offering including luxury villas and condominiums.[132][133] One of the Trump Organization's partners in Indonesia is Tanoesoedibjo, who is "building up a following as he mulls a presidential run", according to Forbes.[69][70] MNC Lido City is partially funded by the Chinese government.[134][135]
    • Trump International Hotel & Tower Vancouver, Vancouver. A prominent skyscraper in Downtown Vancouver, British Columbia, Canada. The 63-story, 188-metre-high (617-foot), mixed-use tower is located at 1133 West Georgia Street, was completed in 2016. Trump Tower Vancouver is the second tallest building in the city, after the Shangri-La tower located across the street on West Georgia Street. The licensed tower in Vancouver is a project primarily of Donald Jr.'s with its builder, "Malaysian heir Joo Kim Tiah".[69]
    • Trump Towers Istanbul, Istanbul, Turkey[136]
The former Trump Ocean Club International Hotel and Tower, Panama
  • Trump World Seoul, Korea: Which Trump received a licensing fee of $5 million to lend his name.
  • The Palm Trump International Hotel and Tower, Dubai
  • Trump Ocean Resort Baja Mexico was a planned 3-tower, 25-story, 526 unit hotel condominium, San Diego. This project collapsed due to the project's failure to secure financing.
  • Trump at Cap Cana will be located in Punta Cana, Dominican Republic.
  • Trump Tower Manila, Makati City, Metro Manila, Philippines: The brand name and mark under license. Anticipated completion is to be announced. Philippines president Rodrigo Duterte "appointed Trump partner Jose Antonio to serve as a special envoy to the United States just before Trump's November victory".[70]
  • Trump Tower, Mumbai, India.[137] "Billionaire Mangal Lodha is developing a 75-story, 300-apartment luxury residential project called Trump Towers building while serving as a regional vice president of a major political party."[70][138]
  • Trump Towers Pune, India, built in association with Panchshil Realty in Pune's Kalyani Nagar area.[137][138]
  • Trump Towers, Gurugram, India, is the largest super-luxury residential development in India with 1.25 million-square-foot project near Golf Course Extension Road, which will be built by IREO alongside a retail complex.[138]
  • Trump Towers, Gurugram, India is the second project in Gurgaon tied up with developer M3M India to build a residential building in Gurgaon.[138]
  • Trump Towers Kolkata, India, is the result of tie up with Unimark Group and Trump Organization to build a 38 floor 400,000 sq. ft. residential project near Eastern Metropolitan Bypass stretch, Kolkata.[138]
  • As of February 2017 in South America, the Trump Organization had one active project: the Trump Tower Punta del Este in Punta del Este, Uruguay. By that time, the company had ended its involvement with two projects in Rio de Janeiro, Brazil: the partially built Trump Hotel Rio de Janeiro and the unbuilt Trump Towers Rio office complex. The company also dropped plans for another office project,[139] the 35-story Trump Office Buenos Aires,[140] which was to be built in Buenos Aires, Argentina.[139] Paulo Figueiredo Filho partnered with the organization in Brazil and "worked mostly with the [Trump] children".[69]

Former licensees
  • St. Regis Toronto hotel and condo tower, formerly Trump International Hotel and Tower, was renamed Adelaide Hotel Toronto in 2017 and St. Regis Toronto in 2018, and management was taken over by Marriott International.[141][142]
  • JW Marriott Panama hotel and condo tower, formerly Trump Ocean Club International Hotel and Tower, Panama. Renamed JW Marriott Panama in 2019, management taken over by Marriott International.[143]

Former properties
  • Empire State Building: Trump acquired 50 percent ownership of the iconic skyscraper in 1994.[144] After failed efforts to gain control of the building by evicting the master leaseholder, he and his partner sold the building in 2002.[145]
  • General Motors Building at Trump International Plaza: Trump partnered with Conseco to buy the 50-story Manhattan office building in 1998, and then attached his name to it.[146] The building was sold in 2003.[147]
  • Grand Hyatt New York: Trump partnered with Hyatt to purchase and renovate the historic Commodore Hotel.[44] They reopened the hotel in 1980.[44] Trump sold his stake to Hyatt in 1996.[148]
  • Plaza Hotel: A historic hotel in Manhattan. Trump purchased it in 1988. He gave up half of his ownership in a 1992 bankruptcy case, and sold the rest in 1995.[149][150]
  • Hotel St. Moritz: Trump bought this Manhattan hotel in 1985 for $72 million, and then sold it in 1988 for $180 million.[151]
  • Maison de L'Amitie: A 43,000-square-foot (4,000 m2) oceanfront mansion in Palm Beach, Florida. Trump purchased this property for $41 million at a bankruptcy auction in 2004, renovated it, and then sold it for $95 million in 2008, making it, at the time, the most expensive house ever sold in the United States.[152]

Scion and American Idea hotels

Early in the Trump presidency, Eric and Donald Jr. Trump announced the creation two new signature hotel brands, Scion and American Idea, as "the next generation of the company". After initially announcing as many as thirty potential deals in their pipeline, the ventures were scrapped in early 2019, with only one uncompleted hotel in Mississippi.[153]

Other ventures and investments

Trump owns a wide variety of other enterprises outside real estate (which had an estimated 2013 value of $317.6 million).[154] Other investments include a 17.2% stake in Parker Adnan, Inc. (formerly AdnanCo Group), a Bermuda-based financial services holdings company.

Beyond his traditional ventures in the real-estate, hospitality, and entertainment fields and having carved out a niche for the Trump brand within these industries, Trump has moved on to establish the Trump name and brand in a multitude of other industries and products. He has made millions attaching his name to numerous products and services that range from energy drinks to books.[8][10] He took in $1.1 million in men's wear licensing royalties.[155] Trump earns $15,000 to $100,000 in book royalties and $2.2 million for his involvement with Trump Model Management every year.[156] Until 2015 Trump owned the Miss Universe, Miss USA and Miss Teen USA pageants, collectively worth $15 million.[79]

Trump has marketed his name on a large number of products and services achieving mixed success doing so. Some of his external entrepreneurial and investment ventures include or have included:

In addition, Trump reportedly receives $1.5 million for each one-hour presentation he does for The Learning Annex.[164][165] Trump also endorsed ACN Inc. a multi-level marketing telecommunications company. He has spoken at ACN International Training Events at which he has praised the company's founders, business model and video phone.[166] He earned a total $1.35 million for three speeches given for the company amounting to $450,000 per speech.[167][168]

The Trump Organization also houses ventures started by Donald Trump's daughter Ivanka, which includes Ivanka Trump Fine Jewelry (a jewelry line) and the Ivanka Trump Lifestyle Collection (a high-end designer-fashion and cosmetics line that includes fragrances, footwear, handbags, outerwear and eyewear collections).[169]

Coats of arms

Donald Trump has used a number of logos in the style of coats of arms for his businesses.

The coat of arms granted to Davies in 1939 bears the motto "Integritas".

Joseph E. Davies, third husband of Marjorie Merriweather Post and a former U.S. ambassador of Welsh origins, was granted a coat of arms by British heraldic authorities in 1939. After Donald Trump purchased Mar-a-Lago, the Florida estate built by Merriweather Post, in 1985, the Trump Organization started using Davies's coat of arms at Trump golf courses and estates across the country.[170] It was also registered with the U.S. patent and trademark office.[171]

In 2008, Trump attempted to establish the American logo at his new Trump International Golf Links in Balmedie, Scotland, but was warned by the Lord Lyon King of Arms, the highest authority for Scottish heraldry, that an act of the Scottish Parliament from 1672 disallows people using unregistered arms. In January 2012, shortly after the inauguration of the golf course, Trump unveiled the new coat of arms[172] that had been granted to "The Trump International Golf Club Scotland Ltd" by the Lord Lyon in 2011.[173]

The coat of arms granted to "The Trump International Golf Club Scotland Ltd" in 2011 bears the battle cry: "Nunquam Concedere".

Sarah Malone, executive vice-president of "The Trump International Golf Links, Scotland", said that "the coat of arms brings together visual elements that signify different aspects of the Trump family heritage [...], the Lion Rampant [in the crest] makes reference to Scotland and the stars to America. Three chevronels are used to denote the sky, sand dunes and sea—the essential components of the site, and the double-[headed] Eagle represents the dual nature and nationality of Trump's heritage (Scottish and German). The Eagle clutches golf balls making reference to the great name of golf, and the motto Numquam Concedere is Latin for Never Give Up—Trump's philosophy."[172]

From 2014, Trump used the same logo for "The Trump International Golf Links, Ireland", the golf resort built from his acquisition of Doonbeg Golf Club.[174][175]

Shield

Party per chevron: Azure two Mullets Argent; Vert a double headed Eagle displayed of the second, beaked, taloned and langued Gules, holding in its talons two Globes of the second; overall three chevronels Or.[176]

Crest

A demi Lion rampant Gules, armed and langued Azure, holding in the paws a Pennon Or flowing to the sinister.

Battle cry

"Numquam concedere" (Latin for "Never Give Up").

Valuation disputes

The financial statements of the Trump Organization's holdings are private, as are Donald Trump's personal tax returns, and there exist a wide range of estimates of the Trump Organization's true value. Donald Trump has been accused on several occasions of deliberately inflating the valuation of Trump Organization properties through the aggressive lobbying of the media, in particular the authors of the annual Forbes 400 list, in order to bolster his perceived net worth among the public over several decades.[15] He has released little definitive financial documentation to the public confirm his valuation claims.[13][14][177][178]

It is difficult to determine a net value for the Trump Organization's real estate holdings independently since each individual property may be encumbered by debt.[15]

In October 2015, Forbes published an article titled "Inside The Epic Fantasy That's Driven Donald Trump For 33 Years" detailing its struggle to estimate the true net worth of Trump and the Trump Organization.[179] In 2018 a former Forbes journalist who had worked on the Forbes list claimed in an op-ed to The Washington Post that Trump had lied about his wealth to Forbes to get on the list repeatedly and suggested that Forbes' previous low-end estimates of Trump's net worth were still well above his true net worth.[15]

Controversies

In 1973, the U.S. Department of Justice's (DOJ) Civil Rights Division filed a civil rights suit against the Trump Organization charging them for violating the 1968 Fair Housing Act by refusing to rent to black people. The National Urban League had sent black and white testers to apply for apartments in Trump-owned complexes; the white testers got the apartments, whereas the black testers did not. According to court records, four superintendents or rental agents reported that applications sent to the central office for acceptance or rejection were coded by race. A 1979 Village Voice article quoted a rental agent who said Fred Trump had instructed him not to rent to black people and to encourage existing black tenants to leave. In 1975, a consent decree described by the head of DOJ's housing division as "one of the most far-reaching ever negotiated" required Trump to advertise vacancies in minority papers and list vacancies with the Urban League. The Justice Department subsequently stated that continuing "racially discriminatory conduct by Trump agents has occurred with such frequency that it has created a substantial impediment to the full enjoyment of equal opportunity."[180]

Also, it is alleged that the Trump Organization has a history of not paying for services rendered. Several hundred contractors or workers for the organization have filed lawsuits or liens saying they were not paid for their work, and others say they had to settle for cents on the dollar.[181]

In 1989, New York State officials ordered the Grand Hyatt New York, a hotel owned at the time by the Trump Organization and the Hyatt Corporation, to pay New York City $2.9 million in rent that had been withheld by the hotel in 1986 due to "unusual" accounting changes approved by Donald Trump.[182] An investigation by New York City auditors noted that the hotel was missing basic financial records and found the hotel was using procedures that violated generally accepted accounting principles.

From 2000 on, the Trump Organization held 50% of TD Trump Deutschland AG, a corporate venture with a German company, planning to build a skyscraper named "Trump Tower Europe" in Frankfurt, Berlin or Stuttgart, but allegedly never paid the full amount of their €2 million share.[183] At least three lawsuits followed and the company was disestablished in 2005.[184]

Turkish Prime Minister Erdoğan attended the opening of the Trump Towers Istanbul AVM in 2012.

In December 2015, Trump said in a radio interview that he had a "conflict of interest" in dealing with Turkey and Turkish President Recep Tayyip Erdoğan because of his Trump Towers Istanbul, saying "I have a little conflict of interest because I have a major, major building in Istanbul and it's a tremendously successful job ... It's called Trump Towers—two towers instead of one ... I've gotten to know Turkey very well."[185]

As of August 2017,[186] Tom Scharfeld owns the trademark of "iTrump" mobile app which plays the trumpet. As "the word trump has other meanings",[187][188][189] the Court did not rule in favour of the Trump Organization.

On March 15, 2018, the New York Times reported that Special Counsel Robert Mueller, as part of his inquiry into Russian interference in the 2016 presidential election, had previously issued a subpoena for documents from the Trump Organization. Alan S. Futerfas, a lawyer representing the Trump Organization, said: "Since July 2017, we have advised the public that the Trump Organization is fully cooperative with all investigations, including the special counsel, and is responding to their requests."[190]

In August 2018, the New York County district attorney was reported to be considering criminal charges against the organization and two of its senior executives regarding the payment of hush money to Stormy Daniels.[191]

In October 2018, The New York Times published an exposé arguing that the Trump family evaded over $500 million in gift taxes and estate taxes on the transfer of Fred Trump's wealth to his children. The alleged schemes involved siphoning money from Fred's companies to his children throughout their lives, and understating the value of transferred properties.[60] The Trump family denied the allegations.[60] New York tax authorities opened an investigation into the matter.[192]

In December 2018, there were reports of Saudi Arabia's using Trump businesses to indirectly funnel funds to Donald Trump, which may be in breach of the Emoluments Clause of the U.S. Constitution.[193]

After former Trump Organization attorney Michael Cohen testified to the House Oversight Committee in February 2019 that the company had inflated its asset values to insurance companies, the New York State Department of Financial Services issued a subpoena to Aon, the Trump Organization's longtime insurance broker.[194] The Trump Organization is under investigation by the Southern District of New York regarding inflated insurance claims allegations, as of May 2019.[195]

gollark: What's the point of those automatic level thingies anyway?
gollark: You can probably still see in the channel until you select another one.
gollark: Not necessarily.
gollark: Or maybe >50% is bots!
gollark: Maybe they unreacted after being verified

See also
  • Timeline of investigations into Trump and Russia (2019)

References

Footnotes

  1. Some modern sources, including Donald Trump's The Art of the Deal, refer to the company as "Elizabeth Trump & Son".[21][22] Contemporaneous sources, however, refer to it as "E. Trump & Son".[23][24] The company was incorporated in 1927,[25] but the name was in use at least as early as 1926.[26]
  2. Donald Trump says in The Art of the Deal that he began using the Trump Organization name during conversations with Victor Palmieri which began in 1973.[39] However, the name was used in at least one advertisement as early as 1972.[40] In prior decades, the business had occasionally been referred to as the Fred Trump Organization or the Fred C. Trump Organization.[41][42][43]

Citations

  1. Abelson, Max (September 3, 2015). "How Trump Invented Trump". Bloomberg Business. Archived from the original on June 22, 2016. Retrieved January 17, 2016.
  2. "The Next Generation". The Trump Organization. Archived from the original on May 11, 2016. Retrieved October 8, 2018.
  3. Elstein, Aaron (November 19, 2018). "Trump Organization's trying times". Crain's New York Business. Archived from the original on May 9, 2019. Retrieved May 9, 2019.
  4. https://money.cnn.com/2015/09/03/news/economy/donald-trump-jobs-created/
  5. Morgan, Lewis & Bockius LLP. "Status of U.S. federal income tax returns" (PDF). The Trump Organization. Archived (PDF) from the original on October 7, 2016. Retrieved October 7, 2016.
  6. Zurcher, Anthony (July 23, 2015). "Five take-aways from Donald Trump's financial disclosure". BBC. Archived from the original on January 24, 2016. Retrieved January 17, 2016.
  7. Garver, Rob (July 24, 2015). "7 Revelations from Donald Trump's Financial Disclosure". CNBC. Archived from the original on January 26, 2016. Retrieved January 17, 2016.
  8. Lisa, Andrew (August 21, 2015). "How Donald Trump brings in over $250M a year". Las Vegas Review-Journal (GoBankingRates.com). Archived from the original on January 26, 2016. Retrieved January 17, 2016.
  9. "21 Unusual Facts About Billionaire Politician Donald Trump". Inc.com. Archived from the original on January 28, 2016. Retrieved January 17, 2016.
  10. Yanofsky, David (July 22, 2015). "A list of everything Donald Trump runs that has his name on it". Quartz. Archived from the original on January 9, 2016. Retrieved January 16, 2016.
  11. Epstein, Reid J.; Heather Haddon (August 11, 2015). "Donald Trump Is Frugal With His Cash in Republican Presidential Race". The Wall Street Journal. Archived from the original on January 26, 2016. Retrieved January 17, 2016.
  12. "The Trump Organization LLC". Bloomberg Businessweek. Archived from the original on November 23, 2010. Retrieved January 15, 2015.
  13. Tully, Shawn (March 3, 2016). "Trump Once Said Some Amazing Things About His Net Worth Under Oath". Fortune. Archived from the original on April 21, 2018. Retrieved April 20, 2018.
  14. O'Brien, Timothy L. (October 19, 2015). "How Much Is Trump Worth? Depends on How He Feels". Newsweek. Archived from the original on April 21, 2018. Retrieved April 20, 2018.
  15. Greenberg, Jonathan (April 20, 2018). "Perspective | Trump lied to me about his wealth to get onto the Forbes 400. Here are the tapes". The Washington Post. ISSN 0190-8286. Archived from the original on April 20, 2018. Retrieved April 20, 2018.
  16. Blair, Gwenda (2000). The Trumps: Three Generations That Built an Empire. New York: Simon & Schuster. pp. 116, 118. ISBN 978-0-7432-1079-9.
  17. Blair, Gwenda (2001). The Trumps: Three Generations That Built an Empire. pp. 119–120. ISBN 978-0743210799.
  18. Whitman, Alden (January 28, 1973). "A builder looks back—and moves forward". New York Times. Archived from the original on September 24, 2018. Retrieved October 8, 2018.
  19. Mason, Joseph B. (December 1, 1940). "Biggest one-man building show". American Builder and Building Age. ProQuest 853825839. When [Fred Trump] was 27 years old he started his first small home building job on his own, but with some financial backing from his mother.  – via ProQuest (subscription required)
  20. Barrett, Wayne (2016). Trump: The Greatest Show on Earth: The Deals, the Downfall, the Reinvention. Simon & Schuster. p. 63. ISBN 978-1942872979. Archived from the original on August 18, 2019. Retrieved October 8, 2018.
  21. Trump, Donald; Schwartz, Tony (1987). The Art of the Deal. Random House. p. 67. ISBN 978-0-345-47917-4. Archived from the original on April 18, 2019. Retrieved May 6, 2016.
  22. Knight, Gladys L. (2014). Pop Culture Places: An Encyclopedia of Places in American Popular Culture. ABC-CLIO. p. 874. ISBN 978-0-313-39883-4. Archived from the original on February 17, 2017. Retrieved March 13, 2016.
  23. "Advertisement for E. Trump & Son". Brooklyn Daily Eagle. November 6, 1927. p. D3. Archived from the original on May 12, 2018. Retrieved May 11, 2018 – via Newspapers.com.
  24. "Real estate news". Brooklyn Daily Eagle. May 5, 1930. p. 8. Archived from the original on May 12, 2018. Retrieved May 11, 2018 – via Newspapers.com.
  25. "New concerns function with Queens capital". The Daily Star. April 16, 1927. p. 16. E. Trump & Son Company, Inc., of Jamaica, has been formed with $50,000 capital to deal in realty.
  26. "Homeseekers buy Hollis dwellings". New York Times. July 21, 1926. p. 32. They also sold for E. Trump & Son a Colonial type dwelling on Wall Street to William Socolow for occupancy.
  27. D'Antonio, Michael (2015). The Truth About Trump. St. Martin's Press. p. 31. ISBN 978-1-250-11695-6.
  28. D'Antonio, Michael (2015). The Truth About Trump. St. Martin's Press. pp. 31 & 34. ISBN 978-1-250-11695-6.
  29. Yee, Vivian (August 17, 2015). "Foundation of an empire: Modest Queens homes, built by Donald Trump's father". New York Times. Archived from the original on May 29, 2018. Retrieved May 28, 2018.
  30. Kranish, Michael; Fisher, Marc (2016). Trump Revealed: An American Journey of Ambition, Ego, Money, and Power. New York: Simon & Schuster. p. 29. ISBN 978-1-5011-5578-9.
  31. Roth, Richard J. (May 14, 1950). "Trump the Builder Plays Mothers as Ace Cards". Brooklyn Eagle. p. 25. Retrieved July 23, 2020.
  32. Tuccille, Jerome (1985). Trump: The Saga of America's Most Powerful Real Estate Baron. Beard Books. p. 31. ISBN 978-1587982231.
  33. Barrett, Wayne (2016). Trump: The Greatest Show on Earth: The Deals, the Downfall, the Reinvention. Simon & Schuster. p. 77. ISBN 978-1942872979.
  34. Barrett, Wayne (2016). Trump: The Greatest Show on Earth: The Deals, the Downfall, the Reinvention. Simon & Schuster. p. 78. ISBN 978-1942872979.
  35. Rozhon, Tracie (June 26, 1999). "Fred C. Trump, postwar master builder of housing for middle class, dies at 93". New York Times. Archived from the original on August 14, 2015. Retrieved May 2, 2018.
  36. Fahim, Kareem (April 8, 2010). "Brooklyn towers have Trump name but no limos". New York Times. Archived from the original on May 3, 2018. Retrieved May 2, 2018.
  37. Trump, Donald; Schwartz, Tony (1987). The Art of the Deal. Random House. p. 67. ISBN 978-0-345-47917-4. Archived from the original on February 21, 2017. Retrieved May 6, 2016.
  38. Blair, Gwenda (2015). Donald Trump: The Candidate. Simon & Schuster. p. 23. ISBN 978-1439129371.
  39. Trump, Donald; Schwartz, Tony (1987). The Art of the Deal. Random House. p. 105. ISBN 978-0-345-47917-4. Archived from the original on February 1, 2017. Retrieved May 6, 2016.
  40. "Classified advertisement for The Trump Organization". New York Times. March 5, 1972. p. R10. ProQuest 119397234.  – via ProQuest (subscription required)
  41. "Controller". Brooklyn Daily Eagle. December 23, 1951. Archived from the original on October 5, 2018. Retrieved October 4, 2018 – via Newspapers.com.
  42. Harry Ryan (February 11, 1961). "Real estate". New York Daily News. Archived from the original on October 5, 2018. Retrieved October 4, 2018 – via Newspapers.com.
  43. "Advertisement for Fred C. Trump Organization". Miami News. August 8, 1969. Archived from the original on October 5, 2018. Retrieved October 4, 2018 – via Newspapers.com.
  44. Campbell, Don G. (June 6, 1981). "New York joining renovation trend". Washington Post. Los Angeles Times. Archived from the original on May 9, 2018. Retrieved May 8, 2018.
  45. Larkin, Kathy (February 17, 1983). "Trumpery, frippery, finery". New York Daily News. Archived from the original on May 9, 2018. Retrieved May 8, 2018 – via Newspapers.com.
  46. Geist, William E. (April 8, 1984). "Donald Trump: Realty magnet with castles on the drawing board". Chicago Tribune. Archived from the original on May 9, 2018. Retrieved May 8, 2018 – via Newspapers.com.
  47. Cuozzo, Steve (February 7, 2016). "How Donald Trump helped save New York City". New York Post. Archived from the original on May 9, 2018. Retrieved May 8, 2018.
  48. Janson, Donald (May 15, 1984). "10th and largest casino opens in Atlantic City". New York Times. Archived from the original on May 24, 2015. Retrieved October 3, 2015.
  49. Anastasia, George (June 18, 1985). "In A.C., Trump's Castle opens at site of Hilton's". Philadelphia Inquirer – via NewsBank.
  50. Heneghan, Daniel (April 3, 1990). "Taj: open sesame!". Press of Atlantic City – via NewsBank.
  51. Hilzenrath, David S.; Singletary, Michelle (November 29, 1992). "Trump went broke, but stayed on top". Washington Post. Archived from the original on March 29, 2018. Retrieved May 11, 2018.
  52. "Financial wizard tries to untangle Trump empire". Baltimore Sun. New York Times. April 28, 1991. Retrieved December 19, 2018. Mr. Bollenbach was brought in by the developer after Mr. Trump's creditors insisted that he hire a chief financial officer, a position that had never existed at the Trump Organization.
  53. Teitelbaum, Richard (November 5, 2016). "Donald Trump's loyal numbers man". Wall Street Journal. Archived from the original on September 18, 2018. Retrieved December 19, 2018. Mr. Weisselberg started off working for Mr. Trump's father, Fred, and by the late 1980s was controller of the Trump Organization. In this role Mr. Weisselberg worked under CFO Stephen Bollenbach, who was hired in 1990.
  54. Buettner, Russ; Bagli, Charles V. (October 3, 2016). "Donald Trump's business decisions in '80s nearly led him to ruin". New York Times. Archived from the original on May 12, 2018. Retrieved May 11, 2018.
  55. Farhi, Paul (February 1, 1992). "Marriott undergoes management shake-up". Washington Post. Archived from the original on December 20, 2018. Retrieved December 19, 2018. In a top-level management shake-up, Marriott Corp. yesterday named a former executive as its new chief financial officer after one of the company's most senior officers resigned. Bethesda-based Marriott named as its top financial executive Stephen F. Bollenbach, who most recently helped Donald Trump restructure his debt-ridden empire.
  56. Quinones, Eric R. (November 10, 1996). "Trump success up to lessons learned". Orlando Sentinel. AP – via NewsBank.
  57. Singer, Mark (May 19, 1997). "Trump solo". The New Yorker. Archived from the original on May 7, 2018. Retrieved May 11, 2018.
  58. Buettner, Russ; Bagli, Charles V. (June 11, 2016). "How Donald Trump bankrupted his Atlantic City casinos, but still earned millions". New York Times. Archived from the original on August 17, 2018. Retrieved August 16, 2018.
  59. Neate, Rupert (September 2, 2016). "Trump and Atlantic City: the lessons behind the demise of his casino empire". The Guardian. Archived from the original on August 17, 2018. Retrieved August 16, 2018.
  60. Barstow, David. "Trump engaged in suspect tax schemes as he reaped riches from his father". New York Times. Archived from the original on October 8, 2018. Retrieved October 9, 2018.
  61. O'Shea, Karen (May 19, 2004). "Trump family sells properties on island". Staten Island Advance – via NewsBank.
  62. Weiss, Lois (May 5, 2004). "Jeweler gets his piece of the rock". New York Post. Archived from the original on May 12, 2018. Retrieved May 11, 2018.
  63. Weiss, Lois (December 18, 2003). "Trumps lighten up". New York Post. Archived from the original on May 12, 2018. Retrieved May 11, 2018.
  64. "The Trump Organization LLC". Bloomberg L.P. Archived from the original on November 22, 2016. Retrieved October 7, 2016.
  65. "Trump hands over business empire to sons". BBC News. January 11, 2017. Archived from the original on January 11, 2017. Retrieved January 11, 2017.
  66. Blumenthal, Paul (January 11, 2017). "Donald Trump Won't Divest From His Business Interests, Opening Door To Years Of Ethics Conflicts". Huffington Post. Archived from the original on January 12, 2017. Retrieved January 11, 2017.
  67. Acton, Gemma (January 12, 2017). "US ethics chief slams Trump 'halfway blind' trust as failing to meet acceptable standard". CNBC. Archived from the original on March 17, 2018. Retrieved March 16, 2018.
  68. Schouten, Fredrecka (January 11, 2017). "Trump won't drop ownership of business". USA Today. Archived from the original on January 11, 2017. Retrieved January 11, 2017.
  69. Alexander, Dan, " After Promising Not To Talk Business With Father, Eric Trump Says He'll Give Him Financial Reports" Archived March 24, 2017, at the Wayback Machine, Forbes, March 24, 2017. Retrieved March 24, 2017.
  70. Alexander, Dan, "In Trump They Trust: Inside The Global Web Of Partners Cashing In On The President" Archived March 25, 2017, at the Wayback Machine, Forbes, March 20, 2017. With appended listing of Trump Organization partners. Retrieved March 24, 2017.
  71. Protess, Ben; Eder, Steve; Enrich, David (April 21, 2020). "Trump (the Company) Asks Trump (the Administration) for Hotel Relief". The New York Times. Archived from the original on April 22, 2020. Retrieved June 12, 2020.
  72. "Trump Real Estate Portfolio". The Trump Organization. Archived from the original on December 2, 2016. Retrieved December 2, 2016.
  73. "Trump Golf". The Trump Organization. Archived from the original on November 22, 2016. Retrieved December 2, 2016.
  74. "The Definitive Net Worth of Donald Trump—Forbes.com". Archived from the original on March 6, 2019. Retrieved March 10, 2019.
  75. Horwitz, Jeff (July 15, 2015). "$10 billion man? Trump unveils details of his fortune". MoneySense (AP). Archived from the original on May 13, 2016. Retrieved January 17, 2016.
  76. Horwitz, Jeff (July 23, 2015). "Donald Trump wealth details released by federal regulators". MoneySense. Archived from the original on January 26, 2016. Retrieved January 17, 2016.
  77. "New York Metro Short List: Trump's Edifice Complex". Archived from the original on June 24, 2016. Retrieved May 14, 2016.
  78. Trump, Donald; Schwartz, Tony (1987). The Art of the Deal. Random House. pp. 192–93. ISBN 978-0-345-47917-4.
  79. Clarke, Katherine (July 1, 2013). "What does Donald Trump really own". The Real Deal. Archived from the original on January 15, 2016. Retrieved January 18, 2016.
  80. Bernstein, Jacob (August 12, 2017). "Trump Tower, a home for celebrities and charlatans". New York Times. Archived from the original on May 19, 2018. Retrieved May 28, 2018.
  81. Melby, Caleb (June 21, 2017). "Trump's net worth slips to $2.9 billion as towers underperform". Bloomberg. Archived from the original on May 28, 2018. Retrieved May 28, 2018.
  82. Fitch, Stephane (September 21, 2006). "What is Trump Worth?". Forbes. Archived from the original on July 12, 2016. Retrieved September 16, 2017.
  83. Mishak, Michael J. (April 30, 2011). "Trump's tower a sore spot on the Strip". Los Angeles Times. Archived from the original on November 13, 2016. Retrieved February 26, 2016.
  84. Abelson, Max (October 1, 2007). "Mystery Man Buys $33 M. Trump World Tower Duplex". Archived from the original on September 3, 2013. Retrieved May 31, 2014.
  85. "Donald Trump". Golf Channel. Archived from the original on June 17, 2014. Retrieved May 31, 2014.
  86. Drange, Matt (December 6, 2017). "Donald Trump's real estate business is losing one of its most important tenants". Forbes. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  87. Fisher, Ian (November 1, 1996). "Nike's shrine to itself is a glitzy showcase". New York Times. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  88. Melby, Caleb; Rubin, Richard (July 28, 2015). "Here's our tally of Donald Trump's wealth". Bloomberg. Archived from the original on May 16, 2018. Retrieved May 14, 2018.
  89. McKinney, Michael P. (April 25, 2017). "Seven Springs, Trump's N.Y. property, spared spotlight—for now". USA Today. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  90. Williams, Lance; Smith, Matt (April 12, 2018). "A small-time scam artist gave Trump a mansion for $0. Why?". Center for Investigative Reporting. Archived from the original on May 5, 2018. Retrieved May 14, 2018.
  91. Bennett, Kitty; Steve Eder & Michael Barbaro. "Donald Trump's Income and Wealth Are Shown in Filing but Are Hard to Pinpoint". The New York Times. Archived from the original on March 3, 2016. Retrieved January 16, 2016.
  92. Sahadi, Jeanne (July 24, 2015). "What we know—and don't know—about Donald Trump's wealth". CNN. Archived from the original on January 29, 2016. Retrieved January 16, 2016.
  93. Abramson, Alana; Ryan Struyk; Chris Good (July 22, 2015). "Donald Trump Has 487 Job Titles And Everything Else We Learned About His Finances Today". ABC News. Archived from the original on January 27, 2016. Retrieved January 16, 2016.
  94. Bump, Philip (May 16, 2018). "Trump has earned $59 million in three years running attractions for New York City". Washington Post. ISSN 0190-8286. Archived from the original on May 21, 2018. Retrieved June 5, 2018.
  95. Nir, Sarah Maslin (September 12, 2018). "Why Trump's Name Could Be Hurting His N.Y.C. Golf Course and Other City Concessions". The New York Times. ISSN 0362-4331. Archived from the original on April 17, 2019. Retrieved April 17, 2019.
  96. Cook, Lauren (August 24, 2018). "Levine urges Parks Dept. to cut ties with Trump businesses". am New York. Archived from the original on April 17, 2019. Retrieved April 17, 2019.
  97. Freedlander, David (September 29, 2015). "A 1980s New York City Battle Explains Donald Trump's Candidacy". Bloomberg. Archived from the original on August 17, 2017. Retrieved May 9, 2018.
  98. Daley, Suzanne (June 6, 1986). "Trump to Rebuild Wollman Rink at the City's Expense by Dec. 15". The New York Times. Archived from the original on June 12, 2018. Retrieved May 9, 2018.
  99. Kula, Irwin; Hatkoff, Craig (August 24, 2015). "Donald Trump And The Wollman Rinking of American Politics". Forbes. Archived from the original on December 27, 2016. Retrieved February 12, 2019.
  100. Anderson, Susan Heller (October 15, 1987). "Trump to Run Two Ice-Skating Rinks in Central Park". The New York Times. ISSN 0362-4331. Archived from the original on April 18, 2019. Retrieved April 18, 2019.
  101. Theodoric Meyer; Tarini Parti (July 22, 2015). "Trump lifts the veil on his empire". Politico. Retrieved January 17, 2016.
  102. Gowen, Annie (February 25, 2011). "Trump buys former Kluge-owned winery". The Washington Post. Archived from the original on January 8, 2012. Retrieved June 19, 2012.
  103. "Trump Winery Opens in Albemarle County". Newsplex.com. October 4, 2011. Archived from the original on September 12, 2012. Retrieved June 19, 2012.
  104. Hoover, Andrew (November 17, 2013). "2013 Rising Star of the Year: Eric Trump". Wine Enthusiast Magazine. Archived from the original on November 16, 2013. Retrieved November 17, 2013.
  105. Garcia, Ahiza (December 29, 2016). "Trump's 17 golf courses teed up: Everything you need to know". CNNMoney. Archived from the original on January 11, 2018. Retrieved January 21, 2018.
  106. Fahrenthold, David A. (July 26, 2019). "Trump golf course in the Bronx lost money last year, city documents show". The Washington Post. Archived from the original on December 2, 2019. Retrieved January 25, 2020.
  107. Donald Trump gets his key to Doral Archived July 8, 2015, at the Wayback Machine The Miami Herald. March 4, 2015.
  108. Goodman, Peter S. (August 26, 2017). "Late wages for migrant workers at a Trump golf course in Dubai". New York Times. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  109. Gambrell, Jon (August 15, 2017). "'Donald of Dubai': UAE billionaire trading off President Trump's name is raising fresh conflict-of-interest questions". The Independent. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  110. Davis, Julie Hirschfeld (January 2, 2017). "Video puts new focus on Donald Trump's ties to Dubai partner". New York Times. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  111. Corrigan, James (April 29, 2014). "Donald Trump's purchase of Turnberry is good". The Telegraph. Archived from the original on September 17, 2015. Retrieved January 17, 2016.
  112. Kumar, Anita (September 11, 2017). "Trump promised not to work with foreign entities. His company just did". Sacramento Bee. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  113. Frangos, Alex (May 18, 2009). "Trump on Trump: Testimony Offers Glimpse of How He Values His Empire: Worth Rises, Falls 'With Markets and Attitudes And With Feelings, Even My Own Feeling'". The Wall Street Journal. Archived from the original on February 10, 2015. Retrieved April 14, 2011.
  114. Brennan, Christopher (December 21, 2017). "Trump SoHo signs come down at newly christened Dominick Hotel". Daily News. New York City. Archived from the original on August 26, 2019. Retrieved August 26, 2019.
  115. Whelan, Robbie (May 11, 2014). "Trump and Kushner Families Are Coming Together for Another Union—This Time a Deal". The Wall Street Journal. Archived from the original on December 17, 2014. Retrieved June 18, 2014.
  116. Sallah, Michael, From the Herald archives: Donald Trump's tower of trouble" Archived January 29, 2017, at the Wayback Machine, Miami Herald, March 25, 2012/republished March 3, 2016. Retrieved February 18, 2017.
  117. Hemlock, Doreen (March 16, 2010). "Trump condo-hotel on Fort Lauderdale beach faces foreclosure". Sun-Sentinel. Archived from the original on March 2, 2018. Retrieved March 7, 2018.
  118. Hemlock, Doreen (November 3, 2010). "Trump says his name is off Fort Lauderdale condo hotel: Real estate mogul's claim of lessened role called 'fraud on the public'". Sun-Sentinel. Archived from the original on March 2, 2018. Retrieved March 7, 2018.
  119. Owers, Paul (June 14, 2012). "Trump Hollywood condos sell out". Sun-Sentinel. Archived from the original on March 8, 2018. Retrieved March 7, 2018.
  120. "Trump Tower Planned for Hollywood Beach". Miami Herald. May 7, 2006. Archived from the original on March 6, 2018. Retrieved March 7, 2018.
  121. Henry, Saxon (April 1, 2007). "Trump Hollywood Breaks Ground". Miami Herald. Archived from the original on March 6, 2018. Retrieved March 7, 2018.
  122. Owers, Paul (August 22, 2009). "Luxury In The Sky". Sun-Sentinel. Archived from the original on March 8, 2018. Retrieved March 7, 2018.
  123. Owers, Paul (July 23, 2010). "Sales slow at Trump Hollywood". Sun-Sentinel. Archived from the original on March 8, 2018. Retrieved March 7, 2018.
  124. Owers, Paul (November 18, 2010). "Lenders foreclose on 200-unit Trump Hollywood condo". Sun-Sentinel. Archived from the original on March 8, 2018. Retrieved March 7, 2018.
  125. "Trump Towers Atlanta Site to Remain Parking Lot". Skyline Views. Archived from the original on April 21, 2016. Retrieved February 10, 2013.
  126. Emporis GmbH. "Trump Towers Atlanta One, Atlanta—273465". emporis.com. Archived from the original on October 24, 2012. Retrieved February 10, 2013.
  127. "Trump Philadelphia to Avoid Foreclosure". Archived from the original on April 16, 2015. Retrieved May 31, 2014.
  128. "The official Trump esy.es encyclopedia". The Surprising, Subtle Messages in Trump's SCOTUS Shortlist. Devland Mccullough. June 12, 2015. Archived from the original on November 11, 2016. Retrieved May 26, 2016.
  129. "בלעדי ל"כלכליסט"—שנה אחרי ההקפאה: אזורים מפשירה את תוכנית מגדל עלית". כלכליסט. Archived from the original on November 26, 2016. Retrieved June 30, 2014.
  130. http://fr.jpost.com/servlet/Satellite?cid=1202742141873&pagename=JPost/JPArticle/ShowFull%5B%5D "Parting with Ramat Gan's Elite landmark is sweet sorrow", Jerusalem Post.
  131. Krawitz, Ari, "Donald Trump plans Ramat Gan luxury tower" Archived March 25, 2017, at the Wayback Machine, Jerusalem Post, March 9, 2006.
  132. Kumar, Anita. "Despite pledge, Trump company works with a foreign entity. Again". mcclatchydc.com. McClatchy. Archived from the original on March 22, 2018. Retrieved March 22, 2018.
  133. "Trump International Hotel & Tower Lido". Archived from the original on January 26, 2017. Retrieved November 11, 2016.
  134. Avery Anapol (May 15, 2018). "Obama ethics chief accuses Trump of violating emoluments clause: 'See you in court Mr. Trump'". thehill.com. Archived from the original on May 16, 2018. Retrieved May 17, 2018.
  135. Alexandra Stevenson and Richard C. Paddock (May 15, 2018). "Trump Indonesia Real Estate Project Gets Chinese Government Ally". NYT. Archived from the original on May 16, 2018. Retrieved May 17, 2018.CS1 maint: uses authors parameter (link)
  136. "Trump Istanbul". Archived from the original on May 30, 2014. Retrieved May 31, 2014.
  137. "Trump Trump's India Ventures". Archived from the original on August 19, 2014. Retrieved August 19, 2014.
  138. "Realty Projects in India with Trump Organization". Economic Times. Archived from the original on January 11, 2018.
  139. Carless, Will, "What happened to all the South American Trump Tower plans?" Archived August 9, 2017, at the Wayback Machine, GlobalPost via USA Today, February 8, 2017. Retrieved February 18, 2017.
  140. Grabar, Henry (November 21, 2016). "Did Trump Ask the President of Argentina for a Building Permit? Either Way, There's a Problem". Slate. Archived from the original on August 6, 2017. Retrieved August 6, 2017.
  141. Cruickshank, Ainslie (June 27, 2017). "Trump Organization to check out from Toronto hotel, condo tower". The Star. Archived from the original on November 15, 2019. Retrieved January 25, 2020.
  142. "InnVest hotels acquires former Trump Tower in Toronto". The Star. June 29, 2017. Archived from the original on July 9, 2019. Retrieved January 25, 2020.
  143. Fahrenthold, David A. (June 4, 2019). "Owners of former Trump hotel in Panama say president's company evaded taxes". The Washington Post. Archived from the original on June 21, 2019. Retrieved January 25, 2020.
  144. "Trump owns half of Empire State Building". Los Angeles Times. AP. July 8, 1994. Archived from the original on July 10, 2015. Retrieved May 21, 2018.
  145. Elstein, Aaron (April 17, 2016). "Trump's lost Empire: The deal that marked the Donald's turn from New York real estate". Crain's New York. Archived from the original on March 28, 2017. Retrieved May 21, 2018.
  146. Ward, Vicky (2014). The Liar's Ball: The Extraordinary Saga of How One Building Broke the World's Toughest Tycoons. John Wiley & Sons. pp. 3–4. ISBN 978-1118421512.
  147. Blair, Gwenda (2007). Donald Trump: The Candidate. Simon & Schuster. p. 208. ISBN 978-1416546542.
  148. Bagli, Charles V. (October 8, 1996). "Trump sells Hyatt share to Pritzkers". New York Times. Archived from the original on June 12, 2018. Retrieved May 21, 2018.
  149. Segal, David (January 16, 2016). "What Donald Trump's Plaza deal reveals about his White House bid". New York Times. Archived from the original on May 22, 2018. Retrieved May 21, 2018.
  150. "Trump's Plaza Hotel bankruptcy plan approved". New York Times. Reuters. December 12, 1992. Archived from the original on August 20, 2016. Retrieved May 21, 2018.
  151. Bagli, Charles V. (November 8, 1999). "Buyer plans for St. Moritz to be Ritz-Carlton flagship". New York Times. Archived from the original on July 27, 2018. Retrieved May 21, 2018.
  152. Garvin, Glenn (March 7, 2017). "Donald Trump, the unwanted Palm Beach mansion and the Russian fertilizer king". Chicago Tribune. Archived from the original on May 15, 2018. Retrieved May 14, 2018.
  153. Eder, Steve; Protess, Ben; Lipton, Eric (February 14, 2019). "Blaming Political Climate, Trumps Give Up on New Hotels". Archived from the original on March 6, 2019. Retrieved March 6, 2019 – via NYTimes.com.
  154. "What does Donald Trump really own". The Real Deal. July 1, 2013. Archived from the original on January 15, 2016. Retrieved January 16, 2016.
  155. Balogh, Brian (November 3, 2015). "Trump the brand, not the candidate". Miller Center. Archived from the original on January 18, 2016. Retrieved January 17, 2016.
  156. Diamond, Jeremy (July 22, 2015). "Donald Trump's 92-page financial disclosure released". CNN. Archived from the original on February 2, 2016. Retrieved January 17, 2016.
  157. Holodny, Elena (October 10, 2014). "12 Donald Trump businesses that no longer exist". Yahoo Finance. Archived from the original on January 27, 2016. Retrieved January 17, 2016.
  158. Koffler, Jacob (August 7, 2015). "Donald Trump's 16 Biggest Business Failures and Successes". Time. Archived from the original on September 1, 2015. Retrieved August 29, 2015.
  159. "Select By Trump". Archived from the original on January 24, 2016. Retrieved January 17, 2016.
  160. Levine, Matt (September 3, 2015). "Should Trump Have Indexed?". Bloomberg View. Archived from the original on January 12, 2016. Retrieved January 17, 2016.
  161. Kelly, Keith J. (May 20, 2009). "Trump's Magazine Closed". New York Post. Archived from the original on February 18, 2015. Retrieved February 18, 2015.
  162. Snyder, Benjamin (July 6, 2015). "Donald Trump's business fumbles". Fortune. Archived from the original on January 7, 2016. Retrieved January 17, 2016.
  163. "Trump Steakhouse hit with 51 violations after officials find month-old caviar, expired yogurt". Daily News. Associated Press. November 17, 2012. Archived from the original on January 5, 2016. Retrieved January 17, 2016.
  164. "Donald Trump's net worth at least $1.4 billion, election filing shows". July 23, 2015. Archived from the original on February 12, 2016. Retrieved January 17, 2016.
  165. "That's rich! The Donald cash advice costs 1.5m". Daily News. New York. October 23, 2005. Archived from the original on October 29, 2008. Retrieved July 4, 2008.
  166. "Donald J. Trump on ACN's Home Based Business". acninc.com. Archived from the original on March 3, 2011. Retrieved July 20, 2012.
  167. Grimaldi, James V. & Mark Maremont (August 13, 2015). "Donald Trump Made Millions From Multilevel Marketing Firm". The Wall Street Journal. Archived from the original on January 25, 2016. Retrieved January 17, 2016.
  168. Epstein, Chuck (November 9, 2015). "Which presidential candidate earns the most per speech". Las Vegas Review Journal. Archived from the original on January 26, 2016. Retrieved January 17, 2016.
  169. "Ivanka Trump Collections". trump.com/Merchandise/Ivanka_Jewelry.asp. Archived from the original on December 24, 2008. Retrieved June 28, 2014.
  170. Hakim, Danny (May 28, 2017). "The Coat of Arms Said 'Integrity'. Now It Says 'Trump'". The New York Times. Archived from the original on March 5, 2018. Retrieved February 14, 2018.
  171. "Trademark of Trump crest". Justia trademarks. Archived from the original on February 16, 2018. Retrieved February 15, 2018.
  172. Guest (January 17, 2012). "Donald Trump awarded Scottish coat of arms after four year battle". Deadline. Archived from the original on February 14, 2018. Retrieved February 14, 2018.
  173. Court of the Lord Lyon, @LyonCourt (November 14, 2016). "Trump International Golf Club Scotland Ltd was granted arms in 2011, replacing an assumed design they had previously used". Twitter. Archived from the original on August 8, 2019. Retrieved February 14, 2018.
  174. "Trump confirms Doonbeg buy—rebranded "Trump International Golf Links, Ireland"". irishgolfdesk.com. Archived from the original on November 19, 2016. Retrieved November 19, 2016.
  175. "About the Course—Trump International Golf Club 2016—Doonbeg". trumpgolfireland.com. Archived from the original on November 19, 2016. Retrieved November 19, 2016.
  176. Court of the Lord Lyon, @LyonCourt (January 21, 2017). "We granted these arms to Trump International Golf Course Scotland Ltd in 2012. Here is the colour version: ..." Twitter. Archived from the original on August 18, 2019. Retrieved February 15, 2017.
  177. Peterson-Withorn, Chase. "How Donald Trump Exaggerates And Fibs About His $4.5 Billion Net Worth". Forbes. Archived from the original on April 20, 2018. Retrieved April 20, 2018.
  178. Khalid, Kiran (April 21, 2011). "Donald Trump net worth: I'm worth whatever I feel". CNN Money. Archived from the original on April 21, 2018. Retrieved April 20, 2018.
  179. Lane, Randall (September 29, 2015). "Inside The Epic Fantasy That's Driven Donald Trump For 33 Years". Forbes. Archived from the original on April 20, 2018. Retrieved April 20, 2018.
  180. Barrett, Wayne; Campbell, Jon (July 20, 2015). "How a young Donald Trump forced his way from Avenue Z to Manhattan" Archived September 5, 2015, at the Wayback Machine. Village Voice. Retrieved September 11, 2015.
  181. "Hundreds Claim Donald Trump Doesn't Pay His Bills" Archived September 27, 2016, at the Wayback Machine. NBC News. Retrieved September 30, 2016.
  182. "Inside a Donald Trump audit: Missing books and unusual accounting". Archived from the original on January 13, 2017. Retrieved January 12, 2017.
  183. "MK-Kliniken AG—Presse—Pressemitteilungen". mk-kliniken.de. Archived from the original on October 29, 2016. Retrieved October 29, 2016.
  184. "Donald Trump's German Flop". Handelsblatt Global Edition. April 5, 2016. Archived from the original on October 30, 2016. Retrieved October 29, 2016.
  185. "Trump's decision on Syria crystallizes questions about his business—and his presidency". The Washington Post. October 7, 2019. Archived from the original on October 17, 2019. Retrieved October 17, 2019.
  186. "App iTrump wins trademark fight against Trump Organization". August 16, 2017. Archived from the original on April 23, 2018. Retrieved March 5, 2018.
  187. Bloomberg, Andrew Harrer. "Donald Trump Lost a 6-Year Legal Battle to a Trumpet Player". Fortune. Time Inc. Archived from the original on June 20, 2018. Retrieved October 4, 2018.
  188. "Donald Trump Lost a 6-Year Legal Battle to a Trumpet Player". August 16, 2017. Archived from the original on June 20, 2018. Retrieved March 5, 2018.
  189. "Trump; Trumpet". Archived from the original on February 28, 2018. Retrieved March 5, 2018.
  190. Schmidt, Michael; Haberman, Maggie. "Mueller Subpoenas Trump Organization, Demanding Documents About Russia". nytimes.com. New York Times. Archived from the original on March 15, 2018. Retrieved March 21, 2018.
  191. "Manhattan D.A. Eyes Criminal Charges Against Trump Organization". Archived from the original on August 24, 2018. Retrieved August 24, 2018.
  192. "New York Regulators Examine the Trump Family's Tax Schemes". Archived from the original on October 8, 2018. Retrieved October 9, 2018.
  193. "Saudi regime used veterans group to dump hundreds of thousands into Trump's business: report". Salon. December 7, 2018. Archived from the original on December 10, 2018. Retrieved December 10, 2018.
  194. Rashbaum, William K.; Protess, Ben (March 5, 2019). "Trump Organization's Insurance Policies Under Scrutiny in New York". Archived from the original on March 7, 2019. Retrieved March 7, 2019 – via NYTimes.com.
  195. Larry Buchanan and Karen Yourish (May 20, 2019). "Tracking 29 Investigations Related to Trump". nytimes.com. Archived from the original on May 22, 2019. Retrieved May 22, 2019.CS1 maint: uses authors parameter (link)

Further reading
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.