The Trump Organization

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Trump Organization LLC

logo
legal form Limited Liability Company
Seat New York City , United StatesUnited StatesUnited States 
management
sales $ 278 million
Branch Conglomerate
Website www.trump.com
As of January 21, 2021

Headquarters of the Trump Organization: Trump Tower in New York City

The Trump Organization LLC is an American conglomerate and holding company based in Trump Tower in New York City . It is owned by Donald Trump , President of the United States from 2017-2021.

history

A forerunner was Elizabeth Trump & Son , founded in 1925 by Elizabeth Christ Trump , whose management was soon taken over by her son, Fred C. Trump, who was still a minor at the time , and which he led until 1929. Because of the Great Depression Fred Trump this business had to temporarily rest until he through the acquisition of the insolvent 1934 J. teaching Krauss Corporation again found a foothold and novel by the availment of state subsidies ( Federal Housing Administration ) of the under New Deal , the compound found in building large-scale single-family homes in Brooklyn, New York .

When the US entered World War II in 1941, housing subsidies in New York ceased and Trump relocated to Norfolk, Virginia , the main US Navy base on the east coast. Taking advantage of generous subsidies, he built 1,360 rental houses with up to 20 apartments there in three years, which he did not sell as before, but was able to rent out profitably due to the great demand. From 1947 onwards, Trump built apartment buildings on a large scale again in Brooklyn - again with government funding.

Fred Trump's son Donald officially joined the family business in 1968 and took over management as early as 1971. He renamed the company The Trump Organization . After his election as President of the United States, he handed over management of the company to his sons on January 11, 2017, but remains the company's owners.

A New York District Attorney and New York Attorney General Letitia James are investigating (as of November 2020) against the Trump Organization, inter alia. on suspicion of banking and insurance fraud , tax evasion and manipulation of business results. On July 1, 2021, the Manhattan District Attorney brought charges against the Trump Organization and its CFO Allen Weisselberg. The charges include fraud (tax evasion (over 15 years) and balance sheet falsification ), conspiracy and aggravated theft. Donald Trump was not personally charged.

Business areas

Trump Real Estate

The core business consists of the Trump Real Estate . This company manages the luxury properties of the Trump Organization, which are spread across the globe.

The well-known buildings of Trump Real Estate include, among others

Trump Hotels

Another important field of activity is the Trump Hotel Collection . 15 luxury hotels are currently operated under this brand worldwide (as of May 2016). The hotel buildings are in turn owned by Trump Real Estate or other owners, so the Trump Hotel Collection only organizes the operational business.

Trump Golf

Trump Golf includes 12 golf courses in the US and 5 outside of it

United States

  • Trump Golf Links at Ferry Point, Bronx, New York (operating only)
  • Trump International Golf Club, West Palm Beach, Florida
  • Trump National Doral Miami: A 320 hectare golf resort with five golf courses, including a hotel with 700 beds.
  • Trump National Golf Club, Bedminster, New Jersey
  • Trump National Golf Club, Charlotte, North Carolina
  • Trump National Golf Club, Colts Neck, New Jersey
  • Trump National Golf Club, Hudson Valley, New York
  • Trump National Golf Club, Jupiter, Florida
  • Trump National Golf Club, Los Angeles
  • Trump National Golf Club, Philadelphia
  • Trump National Golf Club, Washington, DC
  • Trump National Golf Club, Westchester, New York

Dubai

  • Trump International Golf Club, Dubai: Owner Damac Properties, operated by Trump Organization.
  • Trump World Golf Club, Dubai, construction of Damac in Akoya Oxygen housing development, should open in 2018 but is not open at the end of 2020

Ireland

  • Trump International Golf Links and Hotel Ireland, Doonbeg, County Clare .

Scotland

  • Trump International Golf Links, Scotland in Balmedie , Aberdeenshire . This golf course was the scene of a legal battle over the construction of an offshore wind farm a few kilometers away.
  • Trump Turnberry : A historic golf resort with three golf courses and a hotel in South Ayrshire, Scotland.

Trump International Realty

Trump International Realty is a real estate company focused on luxury real estate.

Trump Entertainment

Trump Entertainment owns the licenses to the series The Apprentice and to Trump Model Management , among others .

Merchandise

In the merchandise business, suits, mineral water and perfumes are sold under the Trump brand. A discontinued brand is Trump Vodka .

Trump University

The educational institution Trump Entrepreneur Initiative (founded as Trump University ) is no longer operated .

Properties (selection)

Many entrepreneurs pay royalties to use the Trump name . Because of this, Trump does not own many of the buildings that bear his name.

criticism

In 1973 the Trump Organization was indicted by the Civil Rights Division of the United States Department of Justice because the Trump Organization refused to rent apartments to black people. The National Urban League , an American civil rights movement that campaigns for the rights of African Americans and against their discrimination in the USA, had found this out through black and white test subjects who each applied for an apartment in a complex owned by Trump.

Web links

Individual evidence

  1. ↑ Trump's Revenue Is cratering at the Worst Possible Time . In: Vox Media Network , January 21, 2021. Trump Businesses See Sharp Revenue Decline at Key Properties . In: Wall Street Journal , January 21, 2021.  
  2. ↑ http://www.trump.com/real-estate-portfolio/
  3. ↑ Gwenda Blair: The Trumps. Three Generations of Builders and a Presidential Candidate . Simon & Schuster, New York 2015. pp. 120–124.
  4. ↑ Gwenda Blair : The Trumps. Three Generations of Builders and a Presidential Candidate . Simon & Schuster, New York 2015. pp. 135–146.
  5. ↑ Gwenda Blair: The Trumps. Three Generations of Builders and a Presidential Candidate . Simon & Schuster, New York 2015. pp. 156–220.
  6. ↑ Voting President Trump - Sons take over the family business Süddeutsche Zeitung, January 11, 2017
  7. ↑ Ines Zöttl: Donald Trump: His wealth is dwindling - and the prosecutors are already waiting. In: DER SPIEGEL. Accessed November 30, 2020 .
  8. ↑ Danny Hakim, Mike McIntire, William K. Rashbaum, Ben Protess: Trump Tax Write-Offs Are Ensnared in 2 New York Fraud Investigations . In: The New York Times . November 20, 2020, ISSN  0362-4331 ( nytimes.com [accessed November 30, 2020]).
  9. ↑ tagesschau.de: Suspected tax fraud: charges against Trump's family holding company. Retrieved July 2, 2021 .
  10. ↑ Ben Protess, William K. Rashbaum, Jonah E. Bromwich: Trump Organization Is Charged With Running 15-Year Employee Tax Scheme . In: The New York Times . July 1, 2021, ISSN  0362-4331 ( nytimes.com [accessed July 2, 2021]).
  11. ^ Charges against Trump organization for tax fraud . In: FAZ.NET . ISSN  0174-4909 ( faz.net [accessed July 2, 2021]).
  12. ↑ Trump Real Estate Portfolio: Donald J Trump Organization Luxury Residential Resort Hotel Golf Commercial Office Retail Property. In: www.trump.com. Retrieved May 6, 2016 .
  13. ^ Trump Vineyard Estate , at www.trump.com , accessed November 12, 2016
  14. ↑ Luxury Hotel Collection | Trump Hotel Collection ™ - Our Hotels | Luxury hotel chains. In: www.trumphotelcollection.com. Retrieved May 6, 2016 .
  15. ↑ Trump Entertainment | Trump Organization Entertainment Ventures | Trump Productions. In: www.trump.com. Retrieved May 6, 2016 .
  16. ↑ Trump Merchandise | Donald J Trump Signature Collection | Trump Collections. In: www.trump.com. Retrieved May 6, 2016 .
  17. ↑ Wayne Barrett, Jon Campbell: How a Young Donald Trump Forced His Way From Avenue Z to Manhattan. In: The Village Voice , July 20, 2015 (English).