President-elect Donald Trump announced on Twitter at the end of November that he would be leaving his business “in total” to “fully focus on running the country.” He added that legal documents were being drafted that would remove him “completely” from business operations.
Trump’s business empire and the conflicts of interest it could pose have been scrutinized throughout the future administration’s transition. Earlier, Trump had said that the operations of his business would be passed on to his children in what he called a “blind trust,” even though that constitutes an independent manager who typically is not someone as closely tied to the holder as his or her children.
But what does the Trump Organization actually do? The answer to that question – similar to inquiries about the president-elect’s income and net worth – is quite complex. According to a recent analysis by the Wall Street Journal, “Roughly half – at least $304 million – of the revenue Mr. Trump reported in a federal financial disclosure form earlier this year came from assets held in 96 different LLCs.”
That financial disclosure form is 104 pages long.
The Trump Organization includes a portfolio of real estate, hotels, and golf courses, as well as investments in clothing and other products. The company does not own most of these properties outright. Though many buildings around the world have been branded with the Trump name, many were not actually built by the Trump Organization and are instead a result of licensing agreements made with other development companies. The companies that take part in this kind of deal typically pay a fee for the use of the Trump name in the development and management of a property.
Many Trump-branded residential properties – like the condominium portions of the Trump Towers in Chicago and New York, for example – are now controlled by unit owners. Some Trump properties are owned in partnership with other management companies. And in some cases, including the president-elect’s home of Trump Tower, Trump does not actually own the land the buildings are situated on.
As for the organization’s commercial interests, Trump has a 30% stake in two properties – 1290 Avenue of the Americas in New York and 555 California Street in San Francisco – through a partnership with Vornado Realty Trust. He also owns 40 Wall Street in New York’s Financial District and the Mar-a-Lago club in Palm Beach, Florida.
Here, we’ve rounded up all of the Trump-branded properties and their locations around the world. We’ve also noted which properties were developed as part of a licensing arrangement.
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