The Trump Organization – Wikipedia


A group of companies led by Donald Trump

The Trump Organization it is a group about 500 commercial entities, of which Donald Trump is the sole or primary owner.[4] About 250 of these entities use the name Trump.[5][6] The organization was founded in 1923 by Donald Trump’s grandmother, Elizabeth Christ Trump, and father, Fred Trump, As E. Trump & Son. Donald Trump started to lead him in 1971, renamed him around 1973 and gave his leadership to his children in 2017.

The Trump organization, through its various companies and constituent partnerships, has or had interests in real estate development, investments, brokerage, sales and marketing and property management. Trump Organization entities own, operate, invest inand develops residential propertieshotels resorts, residential towersand Golf courses in many countries.[5][6][7] They also operate or have operated in construction, hospitality, casinosentertainment, publishing books and magazines, broadcast media, model management, retail, financial services, food and beverage, business education, online travel, commercial and private aviation and beauty contests.[8][9] Trump Organization entities also own the New York television production company that produced the reality show franchise The Apprentice.[10] Retail operations include or included fashion clothing, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, vodka, wine, crockery , steaks, chocolate bars and bottles of spring water.[11]

As the financial statements of the Trump Organization’s holdings and Donald Trump’s personal tax returns are private, their true value is not known publicly, although a wide variety of estimates have been made. Trump has publicly published little definitive financial documentation to confirm his assessment claims.[12][13]

On several occasions, Trump has been accused of deliberately inflating the appreciation of Trump Organization properties through aggressive media lobbying (in particular the authors of the annual publication). Forbes 400 list) to reinforce your perceived net worth.[14]

Story[[[[To edit]

Founding and early history[[[[To edit]

An initial Trump Organization logo, as it appeared in 1976, Donald Trump’s correspondence for the Penn Central Transportation Company

The company’s history starts with Frederick Trump and Elizabeth Christ Trump, a couple of German immigrants who moved to the neighborhood of Queens in 1906. Frederick started to develop real estate there. On May 30, 1918, however, he died of Spanish flu at the 1918 flu pandemic, leaving a property valued at $ 31,359 (or about $ 345,000 in 1999 dollars).[15]

Elizabeth remained in the real estate business after her husband’s death. She hired home builders on the empty land that Frederick owned, sold the houses and lived off the mortgage.[16] His vision was to get his three children to continue the family business.[16] Your middle son, Fred Trump, began the construction of his first house in 1923, shortly after finishing high school.[17] Elizabeth partially financed Fred’s houses,[18] and did the business on his behalf because Fred had not achieved the adulthood.[17] They did business like “E. Trump & Son”, building hundreds of homes in Queens in the coming years.[19][a] E. Trump & Son went bankrupt during the Great Depression.[26] Then Fred Trump opened a supermarket, but quickly sold it and returned to the real estate business in 1933.[27][28]

Fred Trump became a prolific builder of single-family homes in Queens and Brooklyn.[29] During the World War II built apartments and temporary housing for military personnel in Virginia and Pennsylvania.[29] In 1944, he returned his focus to Brooklyn and began planning the development of large apartment buildings.[30] He opened the 1,344-unit Shore Haven complex in 1949,[31] followed by Beach Haven in 1950[32] and Trump Village in 1964.[33]

Elizabeth remained involved in the family’s business throughout her life. Even at the age of 70, she collected coins from the laundries in Trump’s buildings.[16]

Leadership under Donald Trump[[[[To edit]

Donald Trump worked for his father’s business while participating in the University of Pennsylvania, and in 1968 he officially joined the company.[34] In the early 1970s, Donald became president of the company, while Fred became chairman.[35] Around 1973, Donald began referring to the business, which previously did not have a unique formal name, such as the Trump Organization.[b]

Donald Trump focused his efforts on major development projects in Manhattan, including renovating the Commodore Hotel, in partnership with Hyatt, such as the Grand Hyatt New York (opened in 1980);[41] the construction of Trump Tower in partnership with The Equitable (1983);[42] and the development of Trump Plaza (1984).[43][44] He also opened three casino hotels in Atlantic City, New Jersey: Trump Plaza (1984),[45] Trump Castle (1985),[46] and Trump Taj Mahal (nineteen ninety).[47]

In 1990, the Trump Organization addressed a financial crisis and was believed to be on the verge of collapse, with Donald Trump and his companies in debt estimated at $ 3.4 billion.[48] Trump hired Stephen Bollenbach as the company’s first CFO, While Allen Weisselberg continued to serve under him as controller.[49][50] Trump spent the following years renegotiating his debts and gave up some properties, including the Trump Shuttle airline and a share in the Plaza Hotel in Manhattan.[51] Bollenbach left the company in 1992.[52] In 1995, Trump took another big step toward financial stability by launching a publicly traded company for Trump casinos, Trump Hotels & Casino Resorts.[51][53] In 1996, Trump was widely considered a comeback.[51][54] The casino company did not do so well, however, and Trump ended up losing his stake in the company due to bankruptcy.[55][56]

In 1997, Fred Trump transferred ownership of most of his apartment building portfolio to his four surviving children (Donald, Robert, Maryanneand Elizabeth)[57] Fred died in 1999.[32] In 2004, the four brothers sold the apartments for $ 700 million to a group led by Rubie Schron, marking the family’s departure from his father’s business property.[58][59][60]

Trump Presidency[[[[To edit]

Donald Trump resigned his role in the Trump Organization after 2016 election.[61] On January 11, 2017, he announced that he and his daughter Ivanka would resign completely and their sons Donald Jr. and Eric would assume the executive position of several businesses, along with the Chief Financial Officer (CFO) Allen Weisselberg.[62]

Trump maintained his financial stake in the business, despite offering during the campaign to put all of his assets in a “blind confidence” if he won the presidency.[63][64] His lawyer at the time, Sheri Dillon, said that Trump’s assets would be overseen by an ethics officer and that the Trump Organization would not pursue any new foreign business.[65]

Under the pre-inaugural Management agreement, Forbes magazine published in March 2017:

The Trump Organization has reduced some of its international work, closing deals on Azerbaijan, Georgia and Brazil, although it undertakes not to make new agreements abroad (although it apparently resurrected an old agreement in the Dominican Republic) Trump’s international hotel management and licensing business represents just $ 220 million of his estimated $ 3.5 billion fortune, but it’s the most dynamic part of the Trump portfolio – and generates money with virtually no risk. As the Trumps closed some international agreements, they continue to move forward with new domestic agreements.

Eric Trump, at Forbes , discussed the “clear separation of church and state we maintain” between business and the father and said this with the father’s presidency and related changes “[y]You could see it anyway “in terms of business prospects. He also said that” he will continue to update his father in business while he is president. … ‘probably quarterly … profitability reports and things like that ‘. “The article quoted Larry Noble, a legal advisor for the non-partisan. Campaign Legal Center and a former boss ethics officer at the Federal Election Commissionand president George W. Bushformer chief ethics attorney, Richard Painter, by looking negatively at these multiple planned updates of President Trump each year.[66] Noble said in part “if he is now going to get reports from his son about the business, then he really isn’t really separated.” Painter said in part “at the end of the day, he owns the business. He has the conflicts that go with it”.[66]

Also in March 2017, Forbes made a list of all “36 mini-trump cards”, as he called the national and international partners – generally described as “billionaires” – with whom the Trump Organization has worked over the years. Presenting the list, the magazine reported that at least 14 of the partners attended the inauguration of the president and some of them paid $ 18,000 for accommodation in the Trump International Hotel at the Washington DC., for the event.[67]

Real Estate[[[[To edit]

The Map highlights countries with properties owned or licensed by the Trump Organization in December 2016.[68][69]

As of 2019, Trump’s net worth (estimated by Forbes Magazine) is $ 3.1 billion, about half of which comes from its New York real estate properties, and about a third comes from national and international properties (including hotels and golf courses).[70] Licensing fees paid by outside owners for using Trump’s name on their properties also contribute to their total net worth[71][72]

Selected completed properties[[[[To edit]

  • Trump Tower.725 Fifth Avenue, Midtown Manhattan: a 58-story building[73] mixed-use tower, the headquarters of the Trump Organization, was developed in partnership with The Equitable, and opened in 1983. Trump bought Equitable’s stake in 1986,[74] and now has the office and retail components of the tower.[75] The building also contains the three-story apartment that was Donald Trump’s main residence until he moved to the White House.[76] The tower’s value was estimated at $ 450 million in 2017.[77] Trump took a $ 100 million mortgage on the building in 2012.[75]
  • Trump World Tower.845 United Nations Plaza, also in downtown Manhattan: in 2006, Forbes The magazine estimated “$ 290 million in profits and unrealized appreciation” going to Trump.[78]
  • AXA Financial Center in Manhattan and 555 California Street in San Francisco: Trump has a 30% stake in these two office buildings, resulting from a exchange of ownership involving Riverside South. Trump’s stake in the two buildings has been estimated to be at least $ 850 million as of 2013.[75]
  • The Trump building in 40 Wall Street: Trump bought and renovated this building for $ 1 million in 1995. Net operating income before taxes in the building in 2011 was $ 20.89 million and is valued at $ 350 million to $ 400 million, according to the New York Department of Finance. Trump took a $ 160 million mortgage attached to the property with an interest rate of 5.71% to use for other investments.[75] Forbes valued the property at $ 260 million in 2006.[78]
  • Trump International Hotel and Chicago Tower: The entire project is valued at $ 1.2 billion ($ 112 million stake for Trump).
  • Trump International Hotel Las Vegas: A joint development with colleagues Forbes 400 members, Phil Ruffin (“lead partner”) and Jack Wishna (“minority partner”).[79] In 2006, Trump’s share was estimated at $ 162 million.[78] At the Forbes in March 2017, Trump International Las Vegas was described as a 50-50 partnership between Donald Sr. and Ruffin, with Eric as principal manager of the Trump Organization.[66]
  • Trump International Hotel and New York Tower: Trump provided his name and knowledge to the building owner (GE) during the building’s re-development in 1994 for a total fee of $ 40 million ($ 25 million for project management and $ 15 million in incentives arising from condominium sales). Forbes values ​​Trump’s stake at $ 12 million. In March 2010, the penthouse apartment at the Trump International Hotel & Tower in New York was sold for $ 33 million.[80][81]
  • Trump Park Avenue Park Avenue and 59th Street: It is valued at $ 142 million. Trump owns 23 apartments on Trump Park Avenue, which he rents for rates of up to $ 100,000 a month and 19 units at Trump Parc.[75]
  • 6 East 57th Street: Trump has a rental interest in this retail building, adjacent to Trump Tower, until the year 2079.[82] The building was occupied by a Niketown store from 1996 to 2018.[82][83] Trump’s interest value has been estimated at $ 470 million as of 2015.[84]
  • Mar-a-Lago: A historic property in Palm Beach, Florida, most of which has been converted by Trump into a member-only resort. The property was worth as much as $ 250 million in 2013.[75] Trump also owns two neighboring private homes, valued at $ 6.5 million and $ 3 million.[75]
  • Seven Springs: A 213-acre (86 ha) property with a 13 bedroom mansion close by Bedford, New York. Trump paid $ 7.5 million for the property in 1995.[85] Local brokers have estimated the property value at around $ 40 million as of 2013.[75] Trump hoped to develop the land with a golf course or homes, but he apparently abandoned those plans in 2015.[85]
  • Beverly Hills house: A 5 bedroom house bought by Trump in 2007 for $ 7 million,[86] and valued at $ 8.5 to $ 10 million as of 2013.[75]
  • Trump International Hotel in 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, DC The Trump Organization transformed the property into a luxury hotel, opened in September 2016.

Carousel[[[[To edit]

The Trump Organization operates the Central Park carousel, a carousel located in the Manhattan neighborhood central Park. In 2010, Trump took over the administration of the carousel, where he promised to revive the carousel after its previous operator was removed by the city’s parks department. The carousel generates $ 589,000 from annual admissions.[87][88][89] The Trump Organization has a contract to operate the carousel until 2021.[90]

Skating rinks[[[[To edit]

The Trump Organization operates the Wollman and Lasker skating rinks, both in Central Park, in conjunction with Rink Management Services of Mechanicsville, Virginia.[91][92] In 1986, Trump offered New York Mayor Ed Koch rebuild the deterioration of the Wollman runway at its expense in six months in exchange for leases to operate the runway and an adjacent restaurant to recover its costs.[93][94] The work was completed two months ahead of schedule and $ 750,000 under estimated costs.[93][95] As part of the deal to continue operating Wollman Rink, Trump also agreed to make a concession to Lasker Rink, and the Trump Organization won concessions for the runways in 1987.[96]

The Trump Organization and Lane Management Services won the concessions to operate the two lanes when the concessions were renewed in 2001. The Trump name is prominently displayed on the walls of the Wollman Lane, as well as on the Zamboni it keeps. It generates about $ 8.7 million in annual income from runway admissions.[97][87][88] The Trump Organization has a contract to operate the runways until 2021.[90]

Trump Winery[[[[To edit]

Trump Winery it is a wine House situated on Trump Vineyard Estates near Charlottesville, Virginia. It is valued between $ 5 million and $ 25 million.[97]

The vineyard was purchased by Trump in April 2011 from Patricia Kluge, widow of John Kluge. The property was distressed.[98] and was officially opened in October 2011.[99] Trump Winery is located on the Monticello Wine Trail. Trump’s son Eric was a partner in the purchase.[100]

After buying the property, Trump transferred the management of the winery to his son.

Golf courses[[[[To edit]

The Trump Organization owns or manages seventeen golf courses in the United States, Scotland, Ireland and the United Arab Emirates.[101] From 2015, Trump listed an income of at least $ 176 million over an 18-month period on his golf courses – about 41% of the lowest estimate of his income.[97]

United States[[[[To edit]

International[[[[To edit]

Real estate licensing[[[[To edit]

Many developers pay Donald Trump to market their properties and be the public face of their projects.[109] For this reason, Trump does not own many of the buildings that bear his name.[109] According Forbes, that part of Trump’s empire, actually managed by his children, is worth $ 562 million. According Forbes, there were 33 licensing projects under development, including seven “condominium hotels” (the seven Trump International Hotel and Tower ventures). Trump generated more than $ 74 million in real estate licensing deals and owns $ 823.3 million in real estate in joint ventures.[75]

  • Manhattan:
    • Trump Palace: 200 East 69th Street, New York, NY.
    • Trump Parc and Trump Parc East: two adjacent buildings in Central Park South, in the southwest corner of Avenida das Américas. Trump Parc East is a 14-story apartment building and Trump Parc (the former Barbizon Plaza Hotel) is a 38-story condominium.
    • Trump Plaza: 167 East 61st Street, New York, NY (36-story Y-shaped building on the Upper East Side)
    • 610 Park Avenue (Old Mayfair Hotel): Trump is assisting in 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 renamed after the Trump Organization left the project.[110] “Born in Russia” Felix Sater was listed as a Bayrock employee when the partnership was born. Sater had served time in prison for injuries he inflicted in a bar fight before the Soho partnership.[67]
  • New York City Suburbs:
  • Florida:
  • Other domestic:
  • International:
    • Elite TowerRamat Gan Israel it was a planned commercial real estate development that would be the tallest building in Israel. Called Trump Tower Tower, Trump shelved the plans in 2007, when the site was sold to Azorim by NIS 306.5 million.[125][126] Trump bought the site for $ 44 million.[127]
    • Trump International Hotel and Tower Lido Lake, West Java, Indonesia. Trump Hotels will be involved in the development of the 700-hectare Lido Lake, an hour away Bandung, Indonesia, including a six-star luxury resort, 18-hole Ernie Els championship golf course, the elite Lifestyle Country Club & Spa, plus a high-end residential offering, including luxury villas and condominiums.[128][129] One of the Trump Organization’s partners in Indonesia is Tanoesoedibjo, who is “building followers while meditating on a presidential race,” according to Forbes.[66][67] MNC Lido City is partially funded by the Chinese government.[130][131]
    • Trump International Hotel & Tower in Vancouver, Vancouver. A prominent skyscraper in downtown Vancouver, British Columbia, Canada. The 63-story, 188-meter-high (617-foot) mixed-use tower is located at 1133 West Georgia Street, completed in 2016. Trump Tower Vancouver is the second tallest building in the city, after the Shangri-La tower located in the across the street on West Georgia Street.[[[[necessary citation] The Vancouver licensed tower is a project primarily by Donald Jr. with its builder, “heir to Malaysia Joo Kim Tiah”.[66]
    • Trump Towers Istanbul, Istanbul, Peru[132]

Ex-graduates[[[[To edit]

  • St. Regis Toronto tower of hotels and condominiums, previously Trump International Hotel and Tower, was renamed Adelaide Hotel Toronto in 2017 and St. Regis Toronto in 2018, and management was assumed by Marriott International.[137][138]
  • JW Marriott Panama tower of hotels and condominiums, previously Trump Ocean Club International Hotel and Tower, Panama. Renamed JW Marriott Panama in 2019, the management assumed by Marriott International.[139]

Previous properties[[[[To edit]

  • Empire State building: Trump acquired 50% of the iconic skyscraper in 1994.[140] After failed efforts to gain control of the building by evicting the main tenant, he and his partner sold the building in 2002.[141]
  • General Motors Building at Trump International Plaza: Trump partnered with Conseco to buy the 50-story Manhattan building in 1998, and later attached his name to it.[142] The building was sold in 2003.[143]
  • Grand Hyatt in New York: Trump partnered with Hyatt to buy and renew the historic Commodore Hotel.[41] They reopened the hotel in 1980.[41] Trump sold his stake to Hyatt in 1996.[144]
  • Plaza Hotel: A historic hotel in Manhattan. Trump bought it in 1988. He gave up half of his property in a bankruptcy case in 1992 and sold the rest in 1995.[145][146]
  • Hotel St. Moritz: Trump bought this Manhattan hotel in 1985 for $ 72 million and then sold it in 1988 for $ 180 million.[147]
  • Maison de L’Amitie: 43,000 square feet (4,000 m2) beachfront mansion in Palm Beach, Florida. Trump bought this property for $ 41 million at a bankruptcy auction in 2004, renovated it and sold it for $ 95 million in 2008, making it, at the time, the most expensive home ever sold in the United States.[148]

Scion and American Idea Hotels[[[[To edit]

At the start of Trump’s presidency, Eric and Donald Jr. Trump announced the creation of two new hotel brands, Scion and American Idea, as “the company’s next generation”. After initially announcing thirty potential deals in its pipeline, the ventures were dropped in early 2019, with only an incomplete hotel in Mississippi.[149]

Other ventures and investments[[[[To edit]

Trump owns a wide variety of other companies outside the real estate sector (which in 2013 was estimated at $ 317.6 million).[150] Other investments include a 17.2% stake in Parker Adnan, Inc. (formerly AdnanCo Group), a Bermuda-based financial services company.

Além de seus empreendimentos tradicionais nos setores imobiliário, hoteleiro e de entretenimento, e tendo criado um nicho para a marca Trump nessas indústrias, Trump passou a estabelecer o nome e a marca Trump em uma infinidade de outras indústrias e produtos. Ele ganhou milhões atribuindo seu nome a vários produtos e serviços que variam de bebidas energéticas a livros.[7][9] Ele recebeu US $ 1,1 milhão em desgaste dos homens royalties de licenciamento.[151] Trump ganha de US $ 15.000 a US $ 100.000 em royalties de livros e US $ 2,2 milhões por seu envolvimento com Trump Model Gestão todos os anos.[152] Até 2015, Trump possuía o Miss Universo, Miss USA and Miss Teen USA concursos, no valor de US $ 15 milhões.[75]

Trump comercializou seu nome em um grande número de produtos e serviços, obtendo sucesso misto ao fazê-lo. Alguns de seus empreendimentos empresariais e de investimento externos incluem ou incluíram:

Além disso, Trump supostamente recebe US $ 1,5 milhão por cada apresentação de uma hora que faz para O Anexo da Aprendizagem.[160][161] Trump também endossou ACN Inc. uma empresa de telecomunicações de marketing multinível. Ele falou nos Eventos de Treinamento Internacionais da ACN, nos quais elogiou os fundadores, o modelo de negócios e o telefone de vídeo da empresa.[162] Ele ganhou um total de US $ 1,35 milhão por três discursos proferidos para a empresa no valor de US $ 450.000 por discurso.[163][164]

A Trump Organization também abriga empreendimentos iniciados pela filha de Donald Trump, Ivanka, que inclui Ivanka Trump Fine Jewelry (uma linha de joias) e a Ivanka Trump Lifestyle Collection (uma linha de produtos de moda e cosméticos de luxo que inclui fragrâncias, calçados, bolsas, roupas de fora coleções de óculos).[165]

Brasões[[[[editar]

Donald Trump usou vários logotipos no estilo de brasões de armas para seus negócios.

O brasão de armas concedido a Davies em 1939 ostenta a lemaIntegritas

Joseph E. Daviesterceiro marido de Marjorie Merriweather Post e um ex-embaixador dos EUA na galês origens, foi concedido um brasão de armas por Autoridades heráldicas britânicas em 1939. Depois que Donald Trump comprou 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.[166] It was also registered with the U.S. patent and trademark office.[167]

In 2008, Trump attempted to establish the American logo at his new Trump International Golf Links at the 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[168] that had been granted to “The Trump International Golf Club Scotland Ltd” by the Lord Lyon in 2011.[169]

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.”[168]

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.[170][171]

Coat of arms used at Trump golf courses in Scotland and Ireland
Escudo

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.[172]

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[[[[edit]

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.[14] He has released little definitive financial documentation to the public confirm his valuation claims.[12][13][173][174]

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.[14]

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.[175] 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.[14]

Controversies[[[[edit]

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 people got the apartments, whereas the black peoples 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.”[176]

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.[177]

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.[178] 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, Berlim or Stuttgart, but allegedly never paid the full amount of their 2 million share.[179] At least three lawsuits followed and the company was disestablished in 2005.[180]

In December 2015, Trump said in a radio interview that he had a “conflict of interest” in dealing with Peru 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.”[181]

As of August 2017,[182] Tom Scharfeld owns the trademark of “iTrump” mobile app which plays the trumpet. As “the word trump has other meanings”,[183][184][185] 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.”[186]

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.[187]

In October 2018, O jornal 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.[57] The Trump family denied the allegations.[57] New York tax authorities opened an investigation into the matter.[188]

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.[189]

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.[190] The Trump Organization is under investigation by the Southern District of New York regarding inflated insurance claims allegations, as of May 2019.[191]

See also[[[[edit]

Referências[[[[edit]

Footnotes

  1. ^ Some modern sources, including Donald Trump’s The Art of the Deal, refer to the company as “Elizabeth Trump & Son”.[20][21] Contemporaneous sources, however, refer to it as “E. Trump & Son”.[22][23] The company was incorporated in 1927,[24] but the name was in use at least as early as 1926.[25]
  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.[36] However, the name was used in at least one advertisement as early as 1972.[37] In prior decades, the business had occasionally been referred to as the Fred Trump Organization or the Fred C. Trump Organization.[38][39][40]

Citations

  1. ^ uma b 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. ^ 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.
  5. ^ uma b 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.
  6. ^ uma b 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.
  7. ^ uma b 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.
  8. ^ “21 Unusual Facts About Billionaire Politician Donald Trump”. Inc.com. Archived from the original on January 28, 2016. Retrieved January 17, 2016.
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Leitura adicional[[[[edit]

External links[[[[edit]

60 ms 4.5%
    (for generator) 40 ms 3.0%
40 ms 3.0%
[others] 340 ms 25.8%
->



Paula Fonseca