Jump to content

The Trump Organization

From Alfawiki
The Trump Organization, Inc.
Company typePrivate
IndustryConglomerate
Founded1927
FounderFred Trump
Headquarters
New York City
,
United States
Area served
International
Key people
Donald Trump (former president), Allen Weisselberg (former CFO)
ProductsReal estate development, investment, brokerage, sales, property management, hotels, residential high-rises, resorts, golf courses, construction, hospitality, casinos, entertainment, publishing, retail, financial services, telecommunications, beauty pageants, television production

The Trump Organization, Inc. is a privately owned American conglomerate under the control of Donald Trump. It functions as the holding company for the majority of Trump's business interests, encompassing approximately 250 subsidiaries and affiliates that carry the Trump brand. Donald Trump became involved with the enterprise in 1968, assumed control in 1971, rebranded it around 1974, and passed management to his children in 2017 following his victory in the 2016 United States presidential election.

Its core operations revolve around real estate development, investment, brokerage, sales, and property management. The organization's portfolio includes hotels, residential high-rises, resorts, and golf courses located internationally. Beyond real estate, its ventures have spanned construction, hospitality, casinos, entertainment, publishing, retail, financial services, telecommunications, and beauty pageants. Additionally, it owns the production company responsible for the reality TV series The Apprentice. Its retail endeavors have featured fashion clothing, jewelry, home décor, beverages, and food items.

Financial information regarding the Trump Organization and Donald Trump's personal tax filings remains confidential; therefore, its exact valuation is unclear. Various estimates have been proposed; however, Trump has provided limited conclusive financial disclosures. He has faced allegations of exaggerating property values to inflate perceived net worth.

Since 2019, New York authorities have investigated the Trump Organization for purported financial misconduct. In July 2021, prosecutors charged the company with ten counts related to a tax evasion scheme spanning 15 years. Reports revealed inconsistencies between property values reported to lenders and those declared to tax authorities from 2011 to 2015. In August 2022, Chief Financial Officer Allen Weisselberg admitted guilt to several felony charges including tax fraud.

In September 2022, New York Attorney General Letitia James initiated a civil lawsuit against the organization. A distinct criminal trial resulted in convictions on seventeen charges by December 2022. In September 2023, a judge determined that Trump, his adult sons, and the organization had repeatedly engaged in fraudulent conduct. The ruling mandated revocation of their New York business licenses and appointed a receiver to oversee dissolution—an action characterized as a "corporate death penalty". They were ordered to remit nearly $355 million plus interest by February 2024 alongside additional operational restrictions.

On March 25, 2024, the payment obligation was lowered to $175 million with a ten-day deadline. Trump posted this bond on April 1, 2024, safeguarding his assets from seizure while appeals proceed.

Background

Donald Trump's grandparents, Frederick Trump and Elizabeth Christ Trump, emigrated from Germany and settled in Queens in 1907. Frederick engaged in real estate development but passed away during the 1918 Spanish flu pandemic leaving an estate valued at $31,359 (equivalent to approximately $535,381 in 2020). Elizabeth continued managing the real estate business by constructing and selling homes on Frederick’s plots and profiting through mortgage financing.

Their son, Fred Trump, began working as a carpenter after finishing high school in 1923 and completed his first single-family house by 1927. That same year saw formal incorporation of Elizabeth’s firm as "E. Trump & Son." Although the company’s name varied in advertising over time, its focus remained consistently on real estate development.

By 1929 Fred had taken charge of the business and specialized in upscale housing projects in Jamaica Estates. The Great Depression forced a temporary closure of operations. In 1933 Fred briefly operated a supermarket but soon returned to real estate activities. He acquired a mortgage servicing firm from a bankrupt entity which granted him access to foreclosed properties he purchased at low cost and resold for profit. This approach established him as a notable young entrepreneur within New York City.

In 1935 the company relocated its base to Brooklyn where Fred constructed many single-family residences. During World War II he built apartment complexes and temporary military housing in Virginia and Pennsylvania. After the war Fred shifted focus toward large-scale apartment developments in Brooklyn including projects such as Shore Haven (1,344 units) in 1949, Beach Haven (1950), and Trump Village (1964).

Leadership during Donald Trump's Era

Donald Trump became involved in his father's enterprise in 1968 while studying at the University of Pennsylvania. By the early 1970s, Fred Trump assumed the role of chairman, with Donald stepping into the position of president. Around 1973, Donald began branding the firm as the Trump Organization. Prior to this, the company had been known as either the Fred C. Trump Organization or simply the Trump Organization, but it did not have an official designation until that time.

Civil Rights Litigation

In 1973, the Civil Rights Division of the U.S. Department of Justice initiated legal action against the Trump Organization for breaching the 1968 Fair Housing Act by denying rental opportunities to Black applicants. The National Urban League had deployed both Black and White testers to properties owned by Trump; White testers were offered apartments, whereas Black testers were consistently refused. Court documents revealed that rental applications were marked with racial codes.

A 1979 article in Village Voice quoted a rental agent who claimed that Fred Trump instructed employees not to rent to Black individuals and to persuade current Black tenants to vacate. A consent decree signed in 1975 mandated that Trump advertise vacancies in minority-focused publications and coordinate listings with the Urban League. Despite this, the Justice Department later reported ongoing racially discriminatory practices by Trump representatives, obstructing fair housing access.

Manhattan Projects and Additional Ventures

Donald Trump focused his efforts on significant developments in Manhattan, including transforming the Commodore Hotel into the Grand Hyatt New York (opened in 1980) through a partnership with Hyatt; building Trump Tower alongside The Equitable (completed in 1983); and developing Trump Plaza (finished in 1984). He also initiated three casino hotels in Atlantic City: Trump Plaza (1984), Trump Castle (1985), and Trump Taj Mahal (1990).

In 1989, New York State authorities demanded that the Grand Hyatt—co-owned by Trump Organization and Hyatt—pay $2.9 million in withheld rent due to "unusual" accounting modifications authorized by Donald Trump. Auditors from the city discovered missing financial documentation and breaches of generally accepted accounting standards.

Amid a real estate market downturn in 1990, the Trump Organization faced near insolvency, carrying debts totaling $4 billion owed to 72 banks, with Donald Trump personally guaranteeing $800 million. Stephen Bollenbach was appointed as the company’s inaugural chief financial officer, while Allen Weisselberg took on the role of controller. Over subsequent years, Trump restructured his debts and divested assets such as the Trump Shuttle airline and his stake in Manhattan's Plaza Hotel. Bollenbach exited the company in 1992.

In 1995, Trump established Trump Hotels & Casino Resorts, a publicly traded entity signaling progress toward financial stabilization. By 1996, he was widely regarded as staging a comeback, although his casino enterprises ultimately succumbed to bankruptcy.

In 1997, Fred Trump transferred majority ownership of his apartment holdings to his four children—Donald, Robert, Maryanne, and Elizabeth—with a reported combined valuation of $41.4 million. Fred passed away in 1999. In 2004, these siblings sold the properties for $737.9 million to a group led by Rubie Schron, marking their exit from their father’s real estate ventures.

Financing

Throughout the property boom of the 1980s, Trump amassed a large portfolio of real estate, culminating in debts totaling $4 billion owed to 72 different banks by 1990. When the market declined that year, Trump and his creditors renegotiated his liabilities, with some banks agreeing to forgive portions of the debt. Subsequently, Trump's casino enterprises filed for bankruptcy, inflicting substantial losses on bondholders and complicating his ability to obtain financing from conventional banking sources.

In the 1990s, Deutsche Bank was expanding aggressively within the U.S. market and extended approximately $425 million in loans to Trump in 1998. The bank became embroiled in controversies involving currency manipulation and laundering money for Russian oligarchs, resulting in a $630 million penalty in 2017 tied to a $10 billion Russian money laundering operation. Deutsche Bank provided Trump with financial products designed to hedge risks and introduced him to affluent clients interested in investing in Western real estate. From 2000 onward, Trump secured loans totaling $2 billion from Deutsche Bank, with outstanding balances around $360 million as of 2016.

Beginning in 2000, the Trump Organization held a 50% stake in TD Trump Deutschland AG, a partnership formed to develop "Trump Tower Europe" potentially located in Frankfurt, Berlin, or Stuttgart. The venture reportedly failed to fulfill its full commitment of €2 million, leading to legal disputes and the entity’s eventual dissolution in 2005.

By mid-2016, multiple contractors and laborers had initiated lawsuits or filed liens alleging either nonpayment or partial payment for services provided under Donald Trump's direction within the organization.

At a real estate conference in 2008, Trump's eldest son, Donald Jr., remarked that Russian investors comprised a disproportionately large segment of high-end asset purchases. Golf journalist James Dodson cited Eric Trump in 2014 stating that the organization did not depend on American banks but was sufficiently capitalized through Russian sources; Eric Trump later refuted this claim. Nonetheless, some financing ties to Russian funds have been identified. The organization's broad international ventures have sparked concerns about possible conflicts of interest during Donald Trump's presidency.

Valuation disputes

The Trump Organization’s financial statements along with Donald Trump's personal tax filings remain private, resulting in widely varying assessments regarding the true valuation of the enterprise. Over many years, Trump has faced accusations of exaggerating property values by influencing media outlets—especially those compiling the annual Forbes 400 list—to boost his reported net worth. He has provided minimal conclusive financial evidence to validate these assertions.

Assessing the net worth of Trump Organization properties is further complicated by individual property debt obligations.

In October 2015, Forbes outlined its persistent difficulties in accurately estimating both Trump's and his company’s net worth. In 2018, a former Forbes reporter claimed that Trump consistently misrepresented his wealth to maintain inclusion on the list, suggesting that even Forbes’ most conservative estimates overstated his actual fortune.

In November 2021, The Washington Post revealed that between 2011 and 2015, the Trump Organization reported significantly higher property valuations—sometimes exceeding $500 million more—to lenders than those disclosed to tax authorities. This discrepancy is currently under investigation by New York prosecutors probing potential fraud and tax evasion. The following month, The New York Times disclosed that investigators were examining whether external accountants from Mazars were provided selective data intended to produce favorable financial reports for lending purposes. In February 2022, Mazars retracted its endorsement of financial statements it had prepared for the organization covering mid-2010 through mid-2020 and subsequently terminated its relationship amid ongoing inquiries.

Trump presidency

On January 11, 2017, before officially assuming office, Donald Trump declared that he and his daughter Ivanka would completely step down from roles within the Trump Organization. Executive management responsibilities were handed over to his sons, Donald Jr. and Eric, along with CFO Allen Weisselberg. Trump placed his business holdings into a revocable trust, which allowed him to retain authority to appoint or remove trustees at his discretion.

Although he pledged during his campaign to place his assets in a blind trust, Trump continued to hold financial interests in his enterprises. His legal counsel indicated that an ethics officer would monitor these assets and that the organization would refrain from initiating new foreign ventures. By March 2017, Forbes noted a scaling back of international projects in Azerbaijan, Georgia, and Brazil by the Trump Organization, while domestic contracts persisted; international hotel licensing—accounting for $220 million of Trump's estimated $3.5 billion net worth—remained a significant income stream.

Eric Trump highlighted the existence of a "clear separation" between presidential duties and business activities but admitted that he still provided Donald Trump with quarterly financial updates. Ethics specialists criticized this setup, pointing out unavoidable conflicts stemming from Trump's ownership stake.

In March 2017, Forbes identified 36 partners connected to the Trump Organization both domestically and abroad. It was reported that at least 14 of these partners attended Trump's inauguration ceremony; some paid rates as high as $18,000 per night at the Trump International Hotel in Washington, D.C.

During the COVID-19 crisis in April 2020, Eric Trump revealed that the company requested rental concessions from the federal General Services Administration regarding the Trump International Hotel. By September 2020, it was disclosed that government agencies had been billed more than $1.1 million by Trump properties since the start of his presidency; for instance, the Secret Service rented a cottage at the Bedminster golf club for $17,000 each month.

Funds from political campaigns also flowed into Trump's businesses, with estimates indicating between $10 million and $17 million paid by his campaign entities to his properties during his time in office.

Conflicts of interest

Concerns about conflicts of interest emerged early in Trump's administration when China provisionally approved 38 trademarks under Trump's name for a variety of branded enterprises such as hotels, restaurants, spas, escort services, and massage parlors. These trademark applications had been filed while he was a candidate in April 2016. Throughout 2018 and 2019, amid ongoing U.S.-China trade discussions, China granted 23 trademarks to companies owned by Trump and Ivanka Trump.

In January 2024, Democratic members of the US House Committee on Oversight and Accountability published White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump, which detailed over $7.8 million in payments from foreign governments directed to Trump-owned businesses. Following the Republican takeover of the House after the 2022 midterm elections, the committee stopped seeking financial documents from Trump's accounting firm Mazars, implying possible additional undisclosed transactions.

Investigations for fraud and tax evasion

In August 2018, criminal charges were under consideration by the Manhattan district attorney against the Trump Organization and two high-ranking executives concerning accounting practices linked to Michael Cohen’s hush money payment to Stormy Daniels.

October 2018 saw The New York Times release an investigative report based on extensive financial documentation, revealing details about Donald Trump’s inheritance from Fred and Mary Anne MacLeod Trump. The report outlined an alleged tax evasion scheme involving Trump and his siblings, which purportedly avoided over $500 million in gift and estate taxes by diverting funds and undervaluing transferred assets. In 2021, Mary L. Trump provided further insights into the use of a shell company to depreciate the value of Fred Trump’s primary business upon his passing.

During February 2019, Michael Cohen testified that Donald Trump inflated asset values to enhance his Forbes ranking while deflating them to minimize tax liabilities. Subsequently, the New York State Department of Financial Services issued subpoenas to Aon, the insurance broker for the organization. By September 2019, a federal inquiry from the Southern District of New York was probing into exaggerated insurance claims.

In January 2020, D.C. Attorney General Karl Racine initiated a lawsuit against the Trump Organization and Trump’s inaugural committee, accusing them of redirecting nonprofit inauguration funds to the Trump family through event arrangements at the Trump Hotel. Later reports indicated that testimonies from Ivanka Trump and Donald Jr. contained inaccuracies. In November 2021, parts of this lawsuit were dismissed and the organization was initially removed as a defendant but was reinstated in February 2022. By May, a settlement of $750,000 was reached, directed toward two nonprofits based in D.C.

August 2020 brought revelations from New York Attorney General Letitia James about a civil investigation into asset inflation with demands for withheld information. Meanwhile, the Manhattan DA hinted at probes into potential bank and insurance fraud. Eric Trump was deposed in October 2020 and invoked his Fifth Amendment rights over 500 times.

On May 18, 2021, the New York AG joined forces with the Manhattan DA in a criminal investigation. A special grand jury convened to evaluate potential indictments against Donald Trump, his company, or its executives. By June 2021, scrutiny intensified on CFO Allen Weisselberg and COO Matthew Calamari as part of this probe.

Criminal and civil charges

On July 1, 2021, charges were filed by the Manhattan district attorney against the Trump Organization for operating a 15-year "scheme to defraud" the government, conspiracy, and falsification of business records. The organization along with its entity Trump Payroll Corporation faced ten counts, while CFO Allen Weisselberg encountered fifteen felony charges including grand larceny and filing false documents. Prosecutors asserted Weisselberg received approximately $1.76 million in unreported indirect compensation such as rent-free housing, utilities, leased vehicles, and tuition payments. Both Weisselberg and the organization entered not guilty pleas. Shortly thereafter, Weisselberg was removed from leadership roles across several subsidiaries.

A second grand jury assembled in late October 2021 to examine allegations concerning asset valuation discrepancies. Authorities focused on multiple properties where values submitted to lenders were substantially higher than those reported for tax purposes—for instance, in 2012, 40 Wall Street was valued at $527 million for lenders but only $16.7 million for tax assessments. Former attorney Michael Cohen indicated that prosecutors had sufficient grounds to indict Donald Trump if they chose.

In December 2021, New York Attorney General Letitia James issued subpoenas to Donald Trump and subsequently to Ivanka Trump and Donald Jr., requesting testimony in a civil fraud case related to asset valuations. The defense challenged these subpoenas as politically motivated and violating due process; however, a federal judge dismissed Trump's lawsuit against James in May 2022.

By early 2022, motions were filed by James seeking to compel testimony from Trump and his children based on substantial evidence suggesting fraudulent asset valuations that financially benefited the company. Courts ordered their compliance despite defense claims arguing that Trump belonged to a protected class. Between April and June 2022, Trump was held in civil contempt for withholding subpoenaed documents; Cushman & Wakefield—responsible for appraising several Trump properties prior to ending their relationship in January 2021—was also found in contempt for failing to produce requested records.

Internal disagreements within the Manhattan DA’s office led to the resignation of two senior prosecutors in February 2022 after new DA Alvin Bragg expressed reluctance to pursue personal indictments against Donald Trump. One departing prosecutor expressed strong belief in Trump's guilt on multiple felony counts. The criminal trial against the Trump Organization commenced on October 24, 2022.

On December 6, 2022, a New York jury found the Trump Organization guilty on all seventeen tax fraud counts—nine charges against The Trump Corporation and eight against The Trump Payroll Corporation—representing a major legal setback for the company.

Fraud lawsuit in New York civil court

On September 21, 2022, New York Attorney General James initiated a civil fraud lawsuit against Trump, his three eldest children, and the Trump Organization. The complaint detailed more than 200 allegations of fraud and false statements, including accusations that Trump significantly overstated his net worth by billions of dollars. The lawsuit sought $250 million in fines and aimed to impose limitations on the Trump family’s business operations within New York. Before the suit was filed, Trump invoked his Fifth Amendment right against self-incrimination over 440 times during a deposition. In November 2022, a judge granted James’s motion for appointing an independent monitor to supervise the organization and mandated court approval for any asset sales or transfers. Additionally, James expressed concerns regarding a recently formed Delaware entity, Trump Organization II, suspecting it might be used to protect assets from legal judgments.

In September 2023, the judge determined that Trump, his adult sons, and the Trump Organization had engaged in repeated fraudulent activities. Consequently, their New York business licenses were revoked, and the entities were placed under receivership with an order for dissolution. By February 2024, Trump was instructed to pay over $350 million plus interest—bringing the total above $450 million—and was prohibited from managing any New York-based company for three years. Donald Jr. and Eric Trump each received fines exceeding $4 million and were barred from serving as officers or directors of New York companies for two years. The organization remains under court-appointed supervision with an independent compliance director overseeing operations; decisions regarding restructuring or dissolution are controlled by the monitor.

In March 2024, the New York Appeals Court reduced Trump's financial penalty to $175 million and imposed a 10-day deadline for payment, which he fulfilled by posting the required bond on time.

IRS examination

In 2024, investigations reported by the New York Times and ProPublica revealed that the Internal Revenue Service was scrutinizing whether Trump had improperly claimed losses on his Trump International Hotel and Tower in Chicago due to construction overruns, slow sales, and units sold below cost. In his 2008 tax filings, he declared the property worthless and claimed deductions totaling $697 million, with as much as $651 million based on its alleged lack of value. Subsequently, in 2010, he transferred ownership among business entities and claimed an additional $168 million in deductions over the following decade. Tax professionals consulted estimated that IRS adjustments could lead to a tax liability exceeding $100 million plus accrued interest and penalties.

Corporate dissolution order

In September 2023, Judge Arthur Engoron ruled that Trump, his adult sons, and their organization had repeatedly engaged in fraudulent conduct. He ordered cancellation of their New York business certificates and placed their entities into receivership for dissolution—a sanction characterized as a 'corporate death penalty'.

Real estate

As of 2019, Forbes estimated Trump's net worth at approximately $3.1 billion. Around half of this wealth stemmed from real estate holdings in New York City, while about one-third came from properties nationwide and internationally, including hotels and golf courses. Additionally, licensing fees from third-party owners using the Trump brand contributed substantially to his overall net worth.

Notable completed developments

  • Trump Tower, located at 725 Fifth Avenue in Midtown Manhattan, is a 58-story mixed-use skyscraper that also serves as the headquarters of the Trump Organization. It was developed in partnership with The Equitable and opened its doors in 1983. By 1986, Trump had secured full ownership. The building features Trump's former main residential penthouse. In 2017, its estimated value stood at $450 million, and in 2012, Trump obtained a $100 million mortgage on the property.
  • Trump World Tower, situated at 845 United Nations Plaza in Midtown Manhattan, was reported by Forbes in 2006 to have generated "$290 million in profits and unrealized appreciation" for Trump.
  • AXA Financial Center (Manhattan) and 555 California Street (San Francisco): Through a property exchange involving Riverside South, Trump holds a 30% interest in these office towers. As of 2013, his combined stake was appraised at no less than $850 million.
  • The Trump Building at 40 Wall Street: Purchased in 1995 with a renovation budget of $1 million, this property had a net operating income of $20.89 million reported in 2011 and was valued between $350 million and $400 million. Trump secured a $160 million mortgage on this asset.
  • Trump International Hotel and Tower Chicago: The entire development was valued at $1.2 billion, with Trump's portion estimated at $112 million.
  • Trump International Hotel Las Vegas: Developed jointly with Phil Ruffin (principal partner) and Jack Wishna (minority partner), Trump's share was estimated at $162 million in 2006; by 2017, it was described as an equal partnership with Ruffin.
  • Trump International Hotel and Tower New York: Trump contributed branding and expertise during its redevelopment in 1994, earning total fees of $40 million. Forbes assessed his equity at $12 million. The penthouse sold for $33 million in 2010.
  • Trump Park Avenue, located at Park Avenue and 59th Street: Appraised at $142 million, Trump owns 23 apartments here that rent for up to $100,000 monthly, along with an additional 19 units at Trump Parc.
  • 6 East 57th Street: Holding leasehold interests through 2079 adjacent to Trump Tower; this property was leased to Nike from 1996 until 2018. Trump's stake was valued at $470 million as of 2015.
  • Mar-a-Lago, Palm Beach, Florida: This historic estate has been transformed into an exclusive members-only resort, with valuations reaching up to $250 million in 2013. Additionally, Trump owns two neighboring residences worth approximately $6.5 million and $3 million respectively.
  • Seven Springs: A sprawling 213-acre estate near Bedford featuring a 13-bedroom mansion purchased for $7.5 million in 1995; brokers estimated its value near $40 million by 2013. Plans for development were discontinued by 2015.
  • Beverly Hills residence: A five-bedroom house acquired in 2007 for $7 million, with valuations between $8.5 and $10 million as of 2013; it was privately sold for $13.5 million in June 2019.

Ice skating facilities

In 1986, Trump undertook the renovation of the dilapidated Wollman Rink, completing the project two months ahead of schedule and saving $750,000 under the city's allocated budget of $2.5 million. He directed contractors such as HRH Construction to work without profit, promising media exposure that ultimately did not materialize as expected. For this effort, Trump received a one-year operating concession for the rink, with all generated profits donated to charitable causes. The following year, the Trump Organization also secured the concession to operate Lasker Rink, maintaining control over both venues until 1995.

In 2001, Wollman Rink Operations LLC—a subsidiary owned by DJT Holdings LLC controlled by the Donald J. Trump Revocable Trust during Trump's presidency—was awarded the concession to manage these rinks through April 30, 2021. Until 2019, signage prominently displayed the Trump name on rink facilities before being replaced by Wollman Rink branding. Financial disclosures reveal that between 2015 and 2018, Trump earned nearly $35 million from operating these ice rinks.

The contract held by the Trump Organization expired in April 2021 amid disagreements regarding renewal terms; however, the rinks continued operations under city management thereafter.

Trump Winery

Situated within Trump Vineyard Estates near Charlottesville, Virginia, Trump Winery holds an estimated value ranging from $5 million to $25 million. Donald Trump acquired the estate in April 2011 from Patricia Kluge, the widow of John Kluge, purchasing it as a distressed property. The winery officially commenced operations in October 2011 and is included in the Monticello Wine Trail. Eric Trump, Donald Trump's son, plays an active role as a partner and oversees the winery's day-to-day management.

Golf courses

The Trump Organization possesses or operates a total of sixteen golf courses spread throughout the United States, Scotland, Ireland, and the United Arab Emirates. Data from 2015 indicates these golf properties produced at least $176 million in revenue over an 18-month period, representing roughly 41% of the lower-bound estimate of Donald Trump's overall income.

United States

International

  • Trump International Golf Club, Dubai: Owned by Damac Properties and operated by the Trump Organization. Located within the Damac Hills residential community, it opened its doors in 2017. The partnership between Trump and Damac’s chairman Hussain Sajwani has prompted concerns regarding potential conflicts of interest during Trump's presidency.
  • Trump International Golf Links and Hotel Ireland
  • Trump International Golf Links, Scotland: A links-style golf course situated in Balmedie, Aberdeenshire. The development encountered controversy surrounding environmental issues and legal challenges related to a neighboring offshore wind farm.
  • Trump Turnberry: A renowned Scottish resort featuring three golf courses and a hotel. Acquired by Trump in 2014 despite previous threats to suspend investment due to disputes concerning the wind farm project.
  • Trump World Golf Club, Dubai: A second golf facility under construction by Damac within its Akoya Oxygen residential development. Its opening has been postponed until at least 2022 owing to construction delays amplified by the COVID-19 pandemic.

Real estate licensing

A significant number of developers pay Donald Trump to use his name and promote their real estate ventures, with much of this licensing operation overseen by his children. As reported by Forbes, this licensing segment is valued at approximately $562 million, encompassing 33 ongoing projects, including seven "condo hotels" under the Trump International Hotel and Tower brand. Trump has earned over $74 million from these licensing agreements and maintains $823.3 million in joint real estate ventures.

  • Manhattan:
    • Trump Palace: Located at 200 East 69th Street.
    • Trump Parc and Trump Parc East: Neighboring buildings on Central Park South; Trump Parc East is a 14-story structure, while Trump Parc is a 38-story condominium.
    • Trump Plaza: A 36-story condominium situated at 167 East 61st Street.
    • 610 Park Avenue (formerly Old Mayfair Hotel): A development partnership with Colony NorthStar.
    • Trump SoHo (currently The Dominick): Initially developed with Bayrock Group, later rebranded following Trump's departure.
  • New York City suburbs:
    • Trump Bay Street: A rental property with 447 units in Jersey City, co-developed alongside Kushner Properties and The KABR Group.
    • Trump Plaza: Residential tower located near Trump Bay Street.
    • Trump Plaza: A 39-story luxury residence and hotel in Westchester County, developed with Louis R. Cappelli.
    • Trump Tower at City Center: A 35-story condominium also in Westchester County, developed with Cappelli.
    • Trump Parc Stamford: Project in Stamford, Connecticut, created with F. D. Rich Company and Cappelli.
    • Trump Park Residences: Development in Shrub Oak, NY, in partnership with Cappelli.
  • Florida:
    • Trump International Hotel and Tower Fort Lauderdale: Discontinued affiliation in 2009 after developers defaulted on a $139 million loan, resulting in foreclosure.
    • Trump Towers Sunny Isles Beach: Three oceanfront towers constructed in collaboration with Dezer Properties.
    • Trump Grande Ocean Resort and Residences: Oceanfront complex including Trump International Beach Resort, Trump Palace, and Trump Royale condominiums, developed by Dezer Properties.
    • Trump Hollywood: A 41-story condominium tower with 200 units, developed by Jorge M. Pérez and The Related Companies; opened in 2009, foreclosed in 2010, fully sold by 2012.
    • Trump Tower Tampa: Project that was ultimately cancelled.
  • Other domestic:
    • Trump Towers Atlanta: Project foreclosed and cancelled.
    • Trump Tower Philadelphia: Declared bankruptcy in 2013 to avoid foreclosure on a vacant lot.
    • Trump International Hotel and Tower Waikiki Beach Walk: Completed in November 2009 with a total of 462 hotel-condo units.
    • Cancelled proposals include developments in Phoenix and New Orleans (the latter's land was foreclosed).
    • Trump International Hotel and Tower Chicago: Finished construction in early 2009 at an estimated cost of $847 million.
  • International:
    • Elite Tower, Ramat Gan, Israel: Intended to be Israel’s tallest building but shelved in 2007; the site was sold for NIS 306.5 million after Trump's $44 million acquisition.
    • Trump International Hotel & Tower Lido Lake, West Java, Indonesia: Part of a large-scale luxury resort featuring golf courses and villas; developed jointly with Tanoesoedibjo; received partial funding from the Chinese government.
    • Trump International Hotel & Tower Vancouver, Canada: Mixed-use tower completed in 2016; hotel occupied the first 15 floors but experienced declining revenues before closing in March 2020; owner filed for bankruptcy in August 2020.
    • Trump Towers Istanbul, Turkey.
  • Additional international undertakings include:
    • Trump World Seoul, Korea – involved a licensing fee of $5 million.
    • Daewoo Trump World Centum located in Busan, Korea.
    • The Palm Trump International Hotel and Tower situated in Dubai.
    • Trump Ocean Resort Baja Mexico – planned as a hotel condo project but failed due to financing problems.
    • Trump at Cap Cana in Punta Cana, Dominican Republic.
    • Trump Tower Manila in the Philippines – a licensed brand where partner Jose Antonio was appointed special envoy to the U.S. prior to Trump's election.
    • Multiple upscale residential projects across India such as Trump Tower Mumbai (in partnership with billionaire Mangal Lodha), Trump Towers Pune (with Panchshil Realty), along with several developments in Gurugram and Kolkata collaborating with local developers like IREO and Unimark Group.
    • In South America as of early 2017, the active project was Trump Tower Punta del Este in Uruguay; involvement ceased on two projects in Rio de Janeiro and an office tower plan in Buenos Aires. Brazilian partner Paulo Figueiredo Filho primarily worked alongside Trump's children.

Trump International Hotels Management LLC

Previously operating under the name Trump Hotel Collection (THC), this entity oversees the management of Trump-branded hotels, residential properties, and golf resorts worldwide.

In 2008, THC collaborated with Evergrande Real Estate Group and a Hong Kong investment fund to pursue the development of Guangzhou's tallest skyscraper. However, the initiative was abandoned when Evergrande exited the project amid the global financial downturn. By 2012, Trump Hotels had launched an office in Shanghai, and two years later they entered into a branding and management agreement with China’s State Grid Corporation for a significant Beijing development. This venture was discontinued early during Trump's 2016 presidential campaign following a corruption investigation targeting State Grid by Chinese officials.

Previous Licensees

  • The hotel and condominium complex known as St. Regis Toronto, formerly called Trump International Hotel and Tower, underwent rebranding in 2017 as Adelaide Hotel Toronto before adopting the St. Regis Toronto name in 2018, with operational control shifting to Marriott International.
  • The property now known as JW Marriott Panama, previously branded Trump Ocean Club International Hotel and Tower in Panama, was renamed in 2019 and came under the management of Marriott International.

Projects Discontinued

  • Trump Tower, Batumi: In 2011, Trump licensed his brand to Georgia-based Silk Road Group for a 47-story development featuring luxury condominiums, retail spaces, and a casino on Batumi’s Black Sea coast. Trump received roughly $1 million upfront plus 12% of condominium sales revenue. During a 2012 visit, Georgia’s president Mikheil Saakashvili hosted Trump and honored him with the Presidential Order of Excellence. Following Trump's election as president, he terminated the licensing deal without refunding the initial payment.

Properties Formerly Owned or Managed

  • Central Park Carousel: Trump assumed management responsibility in 2010 with the aim of revitalizing the Manhattan carousel after its prior operator was dismissed. The attraction generated approximately $589,000 annually from ticket sales. The Trump Organization maintained the contract until April 2021, after which another company took over.
  • Empire State Building: Acquired a 50% stake in 1994; however, after unsuccessful efforts to gain full control by evicting the master leaseholder, Trump and his partner sold their interest in 2002.
  • General Motors Building at Trump International Plaza: In 1998, Trump joined forces with Conseco to purchase this 50-story office tower in Manhattan and applied his branding to it. The property was sold five years later in 2003.
  • Grand Hyatt New York: Collaborating with Hyatt, Trump helped acquire and renovate the Commodore Hotel, reopening it under the Grand Hyatt brand in 1980 before selling his share to Hyatt in 1996.
  • Plaza Hotel: Bought by Trump in 1988; he surrendered half ownership during bankruptcy proceedings in 1992 and disposed of the remaining stake by 1995.
  • Hotel St. Moritz: Purchased for $72 million in 1985 and sold three years later for $180 million.
  • Maison de L'Amitie: A sprawling 43,000-square-foot oceanfront estate in Palm Beach acquired at a bankruptcy auction in 2004 for $41 million. After investing $3 million in renovations, Trump sold it for $95 million in 2008 to Russian billionaire Dmitry Rybolovlev. This transaction set a record for U.S. home sales at that time and was later examined during the Mueller investigation.
  • Trump Golf Links at Ferry Point: Management of this New York City-owned golf course commenced under Trump’s organization in 2015. The contract was reassigned to Bally's Corporation in 2023.
  • Trump Plaza: This Atlantic City hotel and casino ceased operations in 2014; it subsequently fell into disrepair before being demolished in 2021.

Scion and American Idea hotels

At the outset of Donald Trump's presidency, Eric Trump and Donald Trump Jr. introduced two new hotel brands, Scion and American Idea, positioning them as "the future generation of the company." Although as many as thirty potential projects were announced, these initiatives were abandoned by early 2019, with only a single unfinished property remaining in Mississippi.

Other ventures and investments

Beyond his real estate holdings, which were valued at $317.6 million in 2013, Trump's business interests encompass a 17.2% ownership in Bermuda-based financial services company Parker Adnan, Inc., $1.1 million earned annually from men's apparel licensing royalties, book royalties ranging between $15,000 and $100,000 per year, and $2.2 million yearly revenue from Trump Model Management. He previously owned the Miss Universe, Miss USA, and Miss Teen USA beauty pageants, collectively valued at $15 million.

Trump has licensed his name to a wide array of products and enterprises with varied outcomes. Key ventures include:

  • Ownership of the Trump Princess superyacht and shipyard (1987–1990), including efforts to create the largest yacht globally.
  • Mortgage company Trump Financial, residential sales firm Trump Sales and Leasing, and real estate brokerage Trump International Realty.
  • The Trump Entrepreneur Initiative (formerly known as Trump University), a for-profit business education organization.
  • Dining establishments branded as Trump Restaurants located within Trump Tower.
  • The former travel search platform GoTrump.com.
  • Coffee brand Select By Trump and the Trump Drinks energy beverage marketed in Israeli and Palestinian territories.
  • The Donald J. Trump Signature Collection featuring menswear and accessories.
  • Fragrance lines including Donald Trump The Fragrance (2004), Success (2012), and Empire (2016).
  • Bottled water brand Trump Ice.
  • The now-defunct Trump Magazine (ceased publication in 2009).
  • Product lines such as Trump Golf, Trump Chocolate, and Trump Home furnishings.
  • Television production firm Trump Productions.
  • The lecture series called The Trump Institute (2005–2009).
  • The multilevel marketing venture The Trump Network (2009–2011), which ended following bankruptcy.
  • Board games like Trump: The Game (released in 1989 and 2004) and Donald Trump's Real Estate Tycoon.
  • Numerous books published under Trump's name through ghostwriters.
  • Brands including Trump Model Management, Trump Shuttle airline, Trump Mortgage services, and Trump Vodka.
  • DJT Restaurant and Bar situated at the Trump International Hotel Las Vegas.
  • Branded food product Trump Steaks.
  • The media company Trump Media & Technology Group (TMTG), which operates the TRUTH social media platform.
  • In 2022, rapidly sold out licensed NFTs known as "Trump Cards," despite widespread criticism.
  • In 2024, launched a sneaker line via 45Footware LLC under licensing agreements; included limited-edition "assassination attempt"-themed footwear released following the July 2024 attack on Trump.
  • Official launch of the Trump Watch Collection in September 2024 featuring models priced between $499 and $100,000 under a paid licensing arrangement; details about the manufacturer remain undisclosed.
  • Introduction of meme cryptocurrencies $TRUMP and $MELANIA in January 2025 through Fight Fight Fight LLC; these tokens were promoted as non-investment collectibles.
  • Debut of Trump Mobile wireless service in 2025 by T1 Mobile, founded by Donald Jr. and Eric Trump; featured a gold-colored smartphone.

In 2005, reports indicated that Trump earned $1.5 million for a single lecture at The Learning Annex Real Estate World Expo; however, he later clarified that his total earnings for multiple appearances amounted to $400,000.

Ivanka Trump's business activities within the organization included Ivanka Fine Jewelry and Ivanka Lifestyle Collection (covering fashion and cosmetics), both discontinued by 2018.

In March 2024, under license from CIC Ventures LLC, Trump began offering a $60 "God Bless the U.S.A. Bible" containing patriotic content and song lyrics. Signed editions were sold for $1,000 each. Following the July 2024 assassination attempt on him, an updated version was issued bearing his name alongside the phrase "The Day God Intervened." By March 2024, nearly 120,000 copies had been shipped from China with an estimated production cost below $3 per unit. Financial disclosures revealed approximately $300,000 in revenue from Bible sales by August 2024.

ACN, Inc.

Between 2005 and 2015, Donald Trump earned a total of $8.8 million by endorsing the multi-level marketing telecommunications firm ACN Inc. through various channels including its website, marketing campaigns, live events, and his television program The Apprentice.

In 2018, a group of four investors initiated a federal lawsuit in the Southern District of New York against Donald Trump and his children—Donald Jr., Ivanka, and Eric—alleging fraud and racketeering connected to ACN. By July 2019, the court permitted claims at the state level involving fraud, deceptive advertising, and unfair competition to move forward. The allegations centered on the Trumps’ failure to disclose compensation received from ACN while promoting it as a reliable investment opportunity. In March 2020, the court mandated that business documents from the Trump Organization dating back to 2005 be submitted.

In April 2020, a federal judge ordered MGM, the primary owner of Celebrity Apprentice, to provide unaired episodes containing ACN advertisements to the attorneys representing the plaintiffs. The Trumps appealed unsuccessfully and pursued arbitration instead. Later, in November 2021, MGM was directed to make these recordings accessible at a secure venue.

Depositions of Trump and his children took place in 2022. To simplify proceedings before the trial set for January 29, 2024, plaintiffs withdrew claims against the children in May 2023.

Trump Media & Technology Group

In February 2021, Donald Trump established Trump Media & Technology Group (TMTG) with the goal of offering "social networking services" within the United States. The company launched its social media platform Truth Social in 2022.

In October 2021, Trump revealed plans for TMTG to merge with Digital World Acquisition, a special-purpose acquisition company (SPAC). ARC Group, a financier based in China, played a significant role by investing $2 million to initiate the SPAC. This transaction has attracted scrutiny from the U.S. Securities and Exchange Commission due to concerns about its financing.

The CEO of Digital World Acquisition was initially hired from Wuhan-based Yunhong Holdings but ended all connections with China by December 2021. TMTG officially introduced Truth Social to the market in February 2022.

By March 2023, Trump Media had accepted $8 million from entities linked to Russia and was subject to a federal probe regarding possible money laundering activities. Amid mounting legal challenges including Trump's expected indictment, Digital World Acquisition terminated its CEO in March 2023.

Coats of arms

Donald Trump has incorporated various emblematic designs resembling coats of arms in connection with his enterprises.

In 1939, British heraldic authorities granted a coat of arms featuring the motto Integritas to Joseph E. Davies, who was the third spouse of Marjorie Merriweather Post and a former U.S. ambassador with Welsh ancestry. When Trump acquired Post’s Florida estate in 1985, the Trump Organization adopted Davies's heraldic emblem for use across its golf courses and properties throughout the United States. This coat of arms was also officially registered with the United States Patent and Trademark Office.

In 2008, Trump aimed to create an American-style heraldic logo for his newly developed Trump International Golf Links located in Balmedie, Scotland. However, the Lord Lyon King of Arms—the Scottish authority on heraldry—alerted him that using unregistered arms was forbidden under a statute dating back to 1672. Subsequently, after the golf course's official opening in January 2012, Trump revealed a newly granted coat of arms for "The Trump International Golf Club Scotland Ltd," authorized by the Lord Lyon in 2011.

Sarah Malone, serving as executive vice-president at The Trump International Golf Links in Scotland, described the symbolism within this coat of arms as reflecting aspects of the Trump family’s lineage: the Lion Rampant signifies Scotland; stars represent the United States; three chevronels symbolize the sky, sand dunes, and sea—key natural features of the location; and a double-headed eagle honors Trump's Scottish and German roots. The eagle is depicted clutching golf balls to highlight the sport’s significance, while the motto Numquam Concedere, translating to "Never Give Up," encapsulates Trump's guiding philosophy.

Beginning in 2014, this emblem was also applied to "The Trump International Golf Links, Ireland," following Trump's purchase and renaming of Doonbeg Golf Club.

See also

Sources

Further reading

External links

Retrieved from "https://www.alfawiki.org/index.php?title=The_Trump_Organization&oldid=30154"