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Donald Trump claimed last year that his business empire lost between $ 3 billion and $ 5 billion during his presidency, mostly in failed deals abroad.
At the same time, he has never completely left the business, despite handing over the day-to-day management of the Trump organization to his two older sons when he took office.
Donald Trump remains the owner of the company and the business during his time in the White House continued to generate money.
The White House Inc. book provides unprecedented insight into the finances of the President, who has otherwise gone to great lengths to try to keep out of the public eye.
From 2017 to 2019, presidents are expected The companies have raised $ 1.9 billion in revenue, which is equivalent to more than $ 16 billion at the current exchange rate.
The estimate is based on documents from various sources: lenders, federal officials, local government political authorities, and foreign officials.
The calculation shows that Trump’s hotel empire and license sales fared poorly during the presidency. Its golf courses have done much better. Still, this is not where you get the most benefits.
Kassakon’s Empire’s Real Estate Portfolio, which has raised hundreds of millions of dollars during his time in the White House, shows a compilation of entries made by Forbes magazine.
Donald Trump and his daughter Ivanka Trump.
Photo: Chris Pizzello / AP
What will be the next step for Donald Trump after the electoral defeat it is not clear. He tweets that his elections were stolen. Play golf. And then tweet about some moods. He refuses admit defeatBut he will eventually resign, predicted a leading Republican politician the other day in the Washington Post.
Outwardly, strong Republicans support the president, who is devastated after the electoral loss to Joe Biden. Anonymously, they tell the US media that they will never admit defeat, but that the transfer of power will take place in a peaceful manner, DN’s Martin Gelin recently reported.
It is not known how and how much Donald Trump will work in the family business empire in the future. Or if it is even in that area, it will put its greatest energy.
When he assumed the presidency four years ago, his two oldest sons, Donald Jr. and Eric, along with a group of other executives, had already taken over some of the day-to-day operations.
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Photo: Nathan Posner / Shutterstock
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Photo: Matt Slocum / AP
Donald Trump had retired a bitBut he did not want to sell his stake in the Trump organization. He then presented a plan that he said would avoid conflicts of interest. Among other things, the company would renounce agreements abroad. A hired consultant would review the ethics of the company’s operations within the United States.
Trump’s political opponents half-called the restrictions.
In October, the New York Times revealed that the restrictions did not prevent more than 200 companies, lobbyists and representatives of foreign governments from staying at Donald Trump’s hotels and facilities. At the same time, they benefited from the president or his administration.
According to the newspaper, it could be federal contracts, changes in the law and appointments to positions as ambassadors.
When Donald Trump said last year that his year as president It probably cost you more than $ 5 billion, you did it without any particular reference.
It is clear that foreign business has suffered the most damage. Before Trump moved into the White House, the company appeared to be investing heavily in China. And over the years, an office has not been used in Shanghai, as if the company was waiting for the right moment to use it again.
When the Trump organization is no longer barred from doing business abroad or constrained by self-imposed ethical rules, the company can enter into agreements with foreign partners. You can start making money like before by selling the Trump name to hotels and real estate projects.
Only part of the residential areas and hotels in the world called Trump are owned by his company. The others have bought the right to use the name, and today there are more than 20 such agreements in China, Israel and South America.
Selling the brand has been easy way for the Trump organization to withdraw money without the need for capital in countries where it is popular.
According to a summary of the Financial Times, the debts of his company amount to 1.1 billion dollars.
But on paper, somehow, it doesn’t seem very worrisome to Donald Trump. Forbes has estimated his net worth at $ 2.5 billion, equivalent to $ 21.5 billion. Trump himself usually declares a much higher amount.
The branch of the German bank Deutsche Bank in New York.
Photo: Richard B. Levine / TT
However, Deutsche Bank, which has been lending money to Donald Trump since the late 1990s, is now trying to find a way to close the deal. This is because the bank is tired of the negative publicity that comes from the connection, according to three bank managers who have spoken with the Reuters news agency.
Deutsche Bank has lent in total $ 340 million for the Trump organization: Three property loans in Miami, Washington DC and Chicago that Trump personally approved and that will begin to mature within two years, two of the bank’s executives told Reuters.
This may be one reason why the company needs to do new business relatively soon when post-presidency restrictions end.
If business comes first.
Instead, Donald Trump may choose to return to the television industry after his role on the reality show “The Apprentice,” which in itself built the popularity that landed him in the White House.
At the idea stage, plans have been made to start a Trump-branded television channel, the New York Times reported in September. Perhaps with the former president in a new television role.
Another possibility is that Donald Trump he is running again for president in 2024. Another is that one of his sons, Donald Trump Jr. or Ivanka Trump, who have shown political ambition, is pointing to the White House.
In both cases, this means that you may be reluctant to enter into deals with foreign companies, which could then fight back politically. This is probably not the least important case in China.
It is uncertain which path Donald Trump will ultimately take. However, it is clear that when you leave the White House, you will also lose the constitutional protection against prosecution that a sitting president has. Then New York prosecutors will continue the now-stopped investigation against Trump and his company for alleged economic crimes.
