The Trump Organization is an American privately owned international conglomerate based in Trump Tower in Midtown Manhattan, New York City. It serves as the holding company for all of the business ventures of the current President of the United States, Donald Trump. Official website
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The company was founded in 1923 by Trump’s grandmother and father as Elizabeth Trump & Son. Donald Trump ran the company as chairman and president from 1971 to 2017. Being elected as U.S. president Trump announced that his two oldest sons Donald Trump Jr. and Eric Trump (both longtime company executive vice presidents), along with longtime CFO Allen Weisselberg, 69, had taken over the management of the company, serving as trustees for the duration of Trump’s presidency. Although he is no longer involved with its day-to-day management, the company remains under Trump’s ownership. Daughter Ivanka Trump is also, in March 2017, listed as an executive vice president of the “next generation” management of the organization.
Trump Tower is a 58-story, 664-foot-high (202 m) mixed-use skyscraper located at 721–725 Fifth Avenue between 56th and 57th Streets in Midtown Manhattan, New York City. Trump Tower serves as the headquarters for The Trump Organization. Additionally, it houses the penthouse condominium residences of the building’s namesake and developer, U.S. President Donald Trump, who was a businessman and real estate developer at the time the tower was developed. Several members of the Trump family also reside in the building. The tower stands upon a plot where the flagship store of department-store chain Bonwit Teller was formerly located. Official website
The Trump Organization has interests in real estate development, investing, brokerage, sales and marketing, and property management. The company owns, operates, invests, and develops residential real estate, hotels, resorts, residential towers, and golf courses in different countries, as well as owning several hundred thousand square feet (several hectares) of prime Manhattan real estate. It lists involvement in 515 subsidiaries and entities with 264 of them bearing Trump’s name and another 54 including his initials.
With investments inside the United States and all around, the Trump Organization spans a wide assortment of ventures including land, development, accommodation, amusement, book and magazine distributing, media, display administration, retail, money related administrations, prepackaged game improvement, nourishment and drinks, business instruction, online travel, aircrafts, helicopter air administrations and magnificence expos. It claims a New York TV generation organization that produces TV programs including the unscripted tv program, The Apprentice. The company likewise takes part in retailing, having at different circumstances sold mold attire, adornments and frill, books, home furniture, lighting items, shower materials and embellishments, bedding, home aroma items, little calfskin products, barware, steaks, chocolate bars, and packaged spring water.
The Trump Organization has divested a number of properties that continue to bear the Trump name even though Trump no longer owns them. For example, in February 2016, it sold its stake in Trump Entertainment Resorts, which owns the Trump Taj Mahal, the Trump Plaza, and the Trump Marina casinos in Atlantic City, New Jersey. Since October 2016, The Trump Organization has also developed properties under the name Scion Hotels, which are priced lower and are marketed towards younger customers.
As of 2015, it is estimated that Trump’s real estate holdings were worth about USD 3.5 billion.
|Total value of commercial properties||USD||1,300,000,000.00|
|Properties he has less than 100% stake in:||USD||940,000,000.00|
Trump’s real estate holdings form the core of his assets and provide much of his income, with a wide array of real estate licensing, branding and marketing deals and royalties that provide millions in annual cash flow. As of 2005 Trump-branded condominiums in New York City sold for 36% more than comparable properties, according to the Corcoran Group. In 2015, Trump earned $71 million from condo sales and collects $41.9 million in rental income on his buildings annually.
Top 3 floors of Trump Tower with approximately 30,000 square feet (3,000 m2) of space; the triplex penthouse is decorated in diamond, 24-carat gold and marble, and features an interior fountain and a massive Italianate-style painting on the ceilings. Worth as much as $50 million, it is one of the most valuable apartments in New York City.
The NikeTown store is located in Trump Tower. The leasehold valued at $200 million. Nike’s lease in the building expires in 2017 and the building serves as collateral for bonds held by Trump worth $46.4 million. Official website
A 43,000 square feet (4,000 m2) large oceanfront mansion lot in Palm Beach. Trump purchased this property for $40 million at a bankruptcy auction in 2004. Trump sold the property for $100 million in June 2008, making it the most expensive house ever sold in the United States. (The previous record is $70 million for Ron Perelman’s Palm Beach estate in 2004.). Forbes values his stake in the property for $43 million. Trump also owns two private homes in Palm Beach, Fla., adjacent to his Mar-a-Lago country club. Trump controls the two residential properties as real estate investments rather than vacation spots. The homes are worth around $6.5 million and $3 million. Official website
A 213-acre estate located outside the town of Bedford in Westchester County. The building features a 13-bedroom mansion, but is also zoned to allow for the construction of 13 additional homes at the site. Trump paid $7.5 million for the entire property in 1995. Local Westchester County brokers put the property’s value at around $40 million. Official website
A large mansion located on Rodeo Drive. The property is valued at $8.5 to $10 million. Official website
A merry-go-round carousel located in Central Park, Manhattan. In 2010, Trump took over the management of the Central Park carousel, where he promised to revive the merry-go-round after its previous operator was removed by the city’s parks department. The carousel generates $589,000 from annual admissions. Official website
Wollman Rink: A public ice rink in the southern part of Central Park. Wollman Rink has been operated by a joint venture between Trump Organization and Rink Management Services of Mechanicsville, Virginia since 2001. The Trump name is prominently displayed on the walls of the rink as well as on the Zamboni that maintains the rink. Operation of the Lasker Rink on the north edge of Central Park is also handled by the two companies. The rink generates close to $8.7 million in annual income from rink admissions. Official website
Trump Winery is situated on Trump Vineyard Estates in Charlottesville, Virginia. It is valued between $5 million to $25 million.
Trump purchased the vineyard from Patricia Kluge, the widow of John Kluge in April 2011. The property was distressed and officially opened in October 2011. Trump Winery is situated in the Monticello Wine Trail. Trump’s son Eric was a partner in the purchase and got the management after the purchase.
Trump has claimed be a “100%” owner of the winery, but the winery’s website says in a legal disclaimer that Trump does not own the winery. The winery venture is a limited liability corporation, and “its owners are not a matter of public record.” Although the vineyard is 1,300 acres, only 200 are under cultivation (“Acres under vine”). Contrary to claims made by Trump, the winery is not the largest on the East Coast, nor even the largest in Virginia. Official website
Trump earned at least $176.4 million from 15 golf courses in Scotland, Ireland and across the Eastern Seaboard – about 41% of the low-end estimate of his income since 2015.
About $200 million in cash flow is derived annually from Trumps golf courses and resorts. Trump’s resorts,, country clubs and golf courses are estimated to be worth $1.57 billion. The Trump Organization currently owns seven golf courses in the United States:
– Trump National Golf Club in Sterling, VA,
– Trump National Golf Club Westchester in Briarcliff Manor, New York,
– Trump National Golf Club in Bedminster, New Jersey,
– Trump International Golf Club in West Palm Beach, Florida,
– Trump National Golf Club Charlotte in Mooresville, NC,
– Trump National Golf Club in Philadelphia and
– Trump National Golf Club in Los Angeles.
In 2012, Trump bought the Doral Resort & Spa in South Florida out of bankruptcy for $150 million. The 800-acre property includes five golf courses, 700 hotel rooms, has a meeting and conference space, a 50,000-square-foot spa and an extensive retail component. Real estate experts estimate current value of the land alone at Doral could exceed $1 billion. Trump has a $125 million mortgage on the property. Since 2012, the Trump Organization has spent over $250 million in renovations. Official website
The development plan for Trump International Golf Links, Scotland (TIGLS) included two 18-hole courses, a 5-star hotel, golf villas, holiday homes, and a golf academy. It was strongly supported by local business leaders but met opposition from local residents, campaigners and environmental groups anxious to preserve the 4,000-year-old sand dunes that are designated an SSSI (Site of Special Scientific Interest). Though recommended for approval by Aberdeenshire Council officials the development was initially rejected by a local subcommittee of elected members. However it was subsequently approved following a controversial planning inquiry ordered by the Scottish Government in June 2008, at which Trump personally testified. Work began on the site in July 2010.
In March 2009, the Trump Organization had asked the Council to use its powers of compulsory purchase to acquire some areas of land at Balmedie not forming part of the original TIGLS site for which planning permission already existed. These included four family-owned properties. In response local campaigners established Tripping Up Trump, a movement aimed at protecting the families at Menie being threatened with eviction. When it emerged at the end of January 2011 that Queen guitarist Brian May had agreed to the use of the band’s song “Bohemian Rhapsody” in a film highlighting the plight of the families, Trump appeared to deny in a media statement that there had ever been an eviction threat, declaring “we have no interest in compulsory purchase and have never applied for it.”
In September 2011, the Trump Organization lodged a formal objection to the proposed construction of a wind farm off the Aberdeenshire coast not far from the site of the new hotel and luxury housing. Donald Trump also wrote personally to the First Minister of Scotland protesting mainly on aesthetic grounds at the proposed erection of offshore wind turbines, which he characterized as ‘ugly’. His letter claimed that he was protesting on behalf of the Scottish people, ‘not… merely for the benefit of Trump International Golf Links.' The Organization’s subsequent lawsuit failed as did the appeal.
In 2011, a documentary directed by Anthony Baxter called You’ve Been Trumped was released, showing the situation of local residents adversely affected by the resort’s construction. It contains footage of, among others, economists who query the benefits claimed for the local economy, environmentalists critical of the damage allegedly caused by the development and golfers who voice doubts about claims made for the resort by the Trump Organization. It also shows Anthony Baxter being arrested while filming by a Grampian Police officer; he was later released without charge. Baxter has been quoted as saying that Trump branded the film ‘boring’ and Baxter himself ‘a fraud’. However, the film has won several awards including the Hamptons Film Festival Social Justice Award and the Maysles Brothers Award for best documentary at the Denver Film Festival.
Despite Trump’s threat to withdraw any further investment in Scotland amid the wind turbine controversy, he later purchased the prestigious Turnberry resort in Ayrshire in April 2014. Official website
On December 8, 2014, in conjunction with DAMAC Properties the company announced the Trump World Golf Club, Dubai. DAMAC chairman and founder Hussain Sajwani launched the Trump International Golf Club in February 2017, with Donald Jr. and Eric Trump in attendance. A second Trump golf course is also under construction by DAMAC in Dubai, designed with help from Tiger Woods. At the press conference in early January 2017 about his business interests going forward, then-President-elect Trump said that Sajwani had proposed another $2 billion project in partnership with Trump. The President-elect said he had turned down the opportunity as he also said that the organization would be doing no new foreign deals while under his sons’ and associate’s management during his presidency.
On December 11, 2015, Donald Trump’s name and likeness had apparently been removed from a billboard and a wall at the project; it remained on another wall however, which was reported as patrolled by security guards and police. This occurrence was hypothesized to be linked to Trump’s suggestion the previous week that Muslims be banned from entry to the United States and his suggestion the previous month that mosques in the United States be monitored, similar to reaction in Turkey to the Trump Towers Istanbul project at the same time. Official website
Many developers pay Donald Trump to market their properties and be the public face for their projects. For that reason, Trump does not own many of the buildings that display his name. According to Forbes, this portion of Trump’s empire, actually run by his children, has valuation of $562 million. According to Forbes, there were 33 licensing projects under development including seven “condo hotels” (i.e. The seven Trump International Hotel and Tower developments). Trump has generated more than $74 million in real estate licensing deals and has $823.3 million worth of real estate in joint ventures.
– Trump Palace: 200 East 69th Street, New York, NY.
– Trump Parc and Trump Parc East: Two adjoining buildings on Central Park South on the southwest corner of The Avenue of the Americas. Trump Parc East is a 14-story apartment building and Trump Parc (the former Barbizon Plaza Hotel) is a 38-story condominium building.
– Trump Plaza: 167 East 61st Street, New York, NY (39-story, Y-shaped plan condominium building on the Upper East Side)
– 610 Park Avenue (Old Mayfair Hotel): Trump is helping with the construction and development of this property for Colony NorthStar.
– Trump SoHo: Hotel Condominium: A partnership with Bayrock Group to build a 42-story building in Soho. “Russian-born” Felix Sater was listed as an employee of Bayrock when the partnership was born. Sater had served time in prison for injuries he inflicted in a bar fight before the Soho partnership.
Trump Bay Street: A planned 447-unit rental apartment building in Jersey City with the real estate development company, Kushner Properties and The KABR Group.
Trump Plaza: The project planned New Jersey’s two tallest residential towers. Tower 2 was never built due to funding problems.
Trump Plaza: A 39-story luxury residence and hotel with retail space in Westchester County, NY with developer Louis R. Cappelli.
Trump Tower at City Center: A 35-story condominium apartment building built in Westchester County, New York with developer Louis R. Cappelli.
Trump Park Stamford: A development in Stamford, Connecticut with F. D. Rich Company and Louis R. Cappelli.
Trump Park Residences: A development in Shrub Oak, NY with Louis Cappelli.
Trump International Hotel and Tower Fort Lauderdale: Anticipated completion was 2007. Trump “decided to pull his name from the marquee and end his agreement with the developers” in 2009 and the developers defaulted on a $139 million loan in 2010, leaving the building faced with foreclosure. In November 2010, Trump announced he was no longer affiliated with the project.
Trump Towers Sunny Isles Beach (Sunny Isles Beach, Florida): An oceanfront condominium development consisting of three 271-unit towers with developer Dezer Properties.
Trump Grande Ocean Resort and Residences: A three-building oceanfront enclave consisting of the Trump International Beach Resort and two residential condominium towers, the Trump Palace and Trump Royale, with developer Dezer Properties.
Trump Hollywood: A 40-story building on Hollywood Beach, Florida with Jorge M. Pérez.
Trump Tampa Bay: Cancelled project
Trump Towers Atlanta: project foreclosed and cancelled.
Trump Charlotte, project canceled. Shortly after, Trump bought a former golf course in Charlotte, which he now owns and operates.
Trump Tower: empty lot in Philadelphia, filed for bankruptcy as of January 2013 to prevent imminent foreclosure.
Trump International Hotel and Tower Waikiki Beach Walk: Completed in November 2009 with 462 hotel-condominium units.
Trump International Hotel & Residence: was a proposed real estate development in Phoenix, Arizona.
Trump International Hotel and Tower: New Orleans (Project slated to begin construction during the first quarter of 2007). “Declared dead in July 2011 after the location land was foreclosed on and sold at auction”.
Trump International Hotel and Tower Chicago: Completed in early 2009 (Opened to public January 30, 2009). Cost of construction was approximately US$847 million.
Elite Tower, Ramat Gan, Israel
was a planned commercial real estate development slated to be the tallest building in Israel. Called the Trump Plaza Tower, Trump shelved the plans in 2007, when the site was sold on to Azorim for NIS 306.5 million. Trump purchased the site for $44 million.
Trump International Hotel & Tower Lido Lake, West Java, Indonesia
Trump Hotels will be involved with the 700-hectare Lido Lake development, 1 hour from Bandung, Indonesia including a six-star luxury resort, 18-hole signature Ernie Els championship golf course, elite Lifestyle Country Club & Spa as well as a high-end residential offering including luxury villas and condominiums. The project will be the first of its kind in Asia and the first in Islam-majority country. One of the Trump Organization’s partners in Indonesia is Taslimson family  and the other one, Tanoesoedibjo, is “building up a following as he mulls a presidential run”, according to Forbes.
Trump International Hotel & Tower Vancouver, Vancouver.
A skyscraper under construction in Downtown Vancouver, British Columbia, Canada. The 63-story, 188-metre-high (617 ft), mixed-use tower is located at 1133 West Georgia Street, and has been completed in 2016. Trump Vancouver is the second tallest building in the city, after the Shangri-La tower located across West Georgia Street. The licensed tower in Vancouver is a project primarily of Donald Jr.’s with its builder, “Malaysian heir Joo Kim Tiah”.
Trump Towers Istanbul, Istanbul, Turkey
Trump World Seoul, Korea: Which Trump received a licensing fee of $5 million to lend his name.
Trump International Hotel and Tower Toronto, Toronto, Canada
The Palm Trump International Hotel and Tower, Dubai
Trump Ocean Club International Hotel and Tower, Panama
Trump Ocean Resort Baja Mexico was a planned 3 tower, 25-story, 526 unit hotel condominium, San Diego. This project collapsed due to the project’s failure to secure financing.
Trump at Cap Cana will be located in Punta Cana, Dominican Republic.
Trump Tower Manila, Makati City, Metro Manila, Philippines: The brand name and mark under license. Anticipated completion is to be announced. Philippines president Rodrigo Duterte “appointed Trump partner Jose Antonio]] to serve as a special envoy to the United States just before Trump’s November victory”.
Trump Tower, Mumbai, India. “[B]illionaire Mangal Lodha is developing a 75-story Trump building while serving as a regional vice president of a major political party.”
Trump Towers Pune, India
As of February 2017 in South America, the Trump Organization had one project active in Trump Tower Punta del Este, Punta del Este, Uruguay, and two apparently dormant or dropped projects in, respectively, Rio de Janeiro, Brazil, (a hotel and tower) and in Buenos Aires, Argentina, (a tower) Paulo Figueiredo Filho partnered with the organization in Brazil and “worked mostly with the [Trump] children”.
The Trump Organization also houses Trump’s personal financial market investment portfolio as a portion of Trump’s wealth is concentrated in the financial and commodities markets. The investment portfolio generates income and cash flow from a variety of mechanisms as dividends, capital gains, and compounded carried interest. He invested a minimum of $70 million in stocks. Though real estate is still his most preferred asset class, Trump became an active financial market investor in 2011 following disappointment from depressed American real estate market and various investments in the Federal Reserve’s interest yields on CDs were next to nothing. Trump stated that he was not enthusiastic to be a stock market investor, but that prime real estate at good prices was hard to find at that time and that stocks and equity securities were cheap and generating good cash flow from dividends. He profited from 40 of the 45 stocks he purchased which he sold in 2014, making it almost a 90% success rate in capital appreciation in addition to millions in earned dividends. The biggest gainers in his stock portfolio were Bank of America Corporation, The Boeing Company and Facebook, Inc earning a windfall profit of $6.7 million, $3.96 million and $3.85 million, respectively.
Trump’s stock portfolio was valued somewhere between $33.4 million and $87.9 million in 2015 and was invested in many sectors, including public companies such as tobacco distributors, retail outlets, pharmaceutical companies, industrial manufacturing companies, financial conglomerates, oil companies, high technology firms and defense contractors. Public stock investments within his portfolio include General Electric, Chevron, UPS, Coca-Cola, Home Depot, Comcast, Sanofi, Ford, ConocoPhillips, Energy Transfer Partners, Altera, Verizon Communications, Procter & Gamble, Bank of America, Nike, Google, Apple Inc., Philip Morris, Citigroup, Morgan Stanley, Whole Foods, Intel, IBM, Bristol-Myers Squibb, Johnson & Johnson, Caterpillar, Kinder Morgan, AT&T and Facebook. He has at least $78 million invested in a variety of paper assets such as stocks, bonds, mutual funds, private equity funds, fund of funds, and hedge funds. His financial market investment accounts are kept at JPMorgan, Barclays, Deutsche Bank and Oppenheimer. His Barclays account includes investments in 32 entities and cash worth between $49,021 and $396,001 and having stock in two accounts at Deutsche Bank that contain cash, treasury bills, and stock in 173 entities. His investment account with Oppenheimer contains cash and has 31 positions worth between $10,380,031 and $33,301,000. His account with JPMorgan contains stock in 60 firms valued between $1,251,008 and $2,617,000.
Trump has also invested in funds that focus on middle and smaller sized businesses such as Tesla Motors, the electric car maker and has invested internationally in a number of emerging market, growth and hedge funds located in Europe and Asia. He has also invested in a number of private equity and hedge funds including $1 to $5 million in Advantage Plus, $1 to $5 million in AG Diversified Funds, $2 million in MidOcean Credit Opportunities, $4 million in Paulson & Co., and around $5 million with Angelo, Gordon & Co.. Trump’s biggest fund holding has been in Black Rock’s Obsidian Fund, where his stake is estimated to be between $25 million to $50 million. Nearly all of Trumps’s open end mutual fund investments are concentrated in Baron Capital Management, a mid-sized mutual fund family headed by mutual fund mogul Ronald S. Baron. Trump invested $16.2 million in Baron Capital Management, making him a significant minority shareholder. He revealed that he earned over $22 million with his private equity, hedge fund, and mutual fund investments and generated between $1.5 million and $10 million in income almost all of it from investments such as dividends, capital gains, and carried interest. Trump also has a portion of his portfolio invested in U.S. Treasury bonds.
On a government form submitted in 2015, Trump reported holding an amount of physical gold, valued at between $100,001 to $250,000.
Trump owns a wide variety of other enterprises outside real estate (which had an estimated 2013 value of US$317.6 million). Other investments include a 17.2% stake in Parker Adnan, Inc. (formerly AdnanCo Group), a Bermuda-based financial services holdings company. In late 2003 Trump and his siblings sold their late father’s real-estate empire to a group of investors that included Bain Capital, Kohlberg Kravis Roberts, and LamboNuni Bank – reportedly for $600 million. Donald Trump’s one-third share was $200 million, which he later used to finance Trump Casino & Resorts.
Beyond his traditional ventures in the real-estate, hospitality, and entertainment fields and having carved out a niche for the Trump brand within these industries, Trump has moved on to establish the Trump name and brand in a multitude of other industries and products. He has made millions attaching his name to numerous products and services that range from energy drinks to books. He took in $1.1 million in men’s wear licensing royalties. Trump earns $15,000 to $100,000 in book royalties and $2.2 million for his involvement with Trump Model Management every year. Until 2015 Trump owned the Miss Universe, Miss USA and Miss Teen USA pageants, collectively worth $15 million.
Trump has marketed his name on a large number of products and services achieving mixed success doing so. Some of his external entrepreneurial and investment ventures include or have included:
Trump Financial (a mortgage firm)
Trump Sales and Leasing (residential sales)
Trump International Realty (a residential and commercial real estate brokerage firm)
The Trump Entrepreneur Initiative (a for profit business education company, formerly called Trump University)
Trump Restaurants (located in Trump Tower and consisting of Trump Buffet, Trump Catering, Trump Ice Cream Parlor, and Trump Bar)
GoTrump.com (a former online travel search engine
Select By Trump (a line of coffee drinks)
Trump Drinks (an energy drink for the Israeli and Palestinian markets)
Donald J. Trump Signature Collection (a line of menswear, men’s accessories, and watches)
Donald Trump The Fragrance (2004)
SUCCESS by Donald Trump (a second fragrance launched by the Trump Organization and the Five Star Fragrance Company, released in March 2012)
Trump Ice (a line of bottled water)
the former Trump Magazine
Trump Home (home furnishings)
Trump Productions (a television production company)
Trump: The Game (1989 board game with a 2004 re-release version tied to The Apprentice)
Donald Trump’s Real Estate Tycoon (a business-simulation game)
Trump Model Management
In addition, Trump reportedly receives $1.5 million for each one-hour presentation he does for The Learning Annex. Trump also endorsed ACN Inc. a multi-level marketing telecommunications company. He has spoken at ACN International Training Events at which he has praised the company’s founders, business model and video phone. He earned a total $1.35 million for three speeches given for the company amounting to $450,000 per speech.
The Trump Organization also houses ventures started by Donald Trump’s daughter Ivanka, which includes Ivanka Trump Fine Jewelry (a jewelry line) and The Ivanka Trump Lifestyle Collection (a high-end designer-fashion and cosmetics line that includes fragrances, footwear, handbags, outerwear and eyewear collections).
In 1973, the U.S. Department of Justice’s (DOJ) Civil Rights Division filed a civil rights suit against The Trump Organization charging that it refused to rent to black people. The Urban League had sent black and white testers to apply for apartments in Trump-owned complexes; the whites got the apartments, the blacks 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 claimed that Fred Trump 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.”
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 claiming they were not paid for their work, and others say they had to settle for cents on the dollar.
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. An investigation by New York City auditors noted that the hotel was missing basic financial records and found that 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, Berlin or Stuttgart, but allegedly never paid the full amount of their €2 million share. At least three lawsuits followed and the company was disestablished in 2005.