President-elect Donald Trump is one of the most well-known real estate moguls in the world, and thanks to years of making lucrative deals, he has amassed an impressive net worth of an estimated $3.9 billion. (For greater insights on Trump's net worth, see: Donald Trump's Real Net Worth: $3.9 Billion.) The Trump Organization LLC acts as the primary holding company for Trump's array of companies and is his main source of wealth.
Trump said in a press conference on January 11, 2017, a little over a week before he will be inaugurated as President, that he will step down as Chairman of the Trump Organization and have his sons run the company. He will place all the assets of the company into a trust by inauguration day.
Here is a breakdown of Trump's businesses and brands under the Trump Organization umbrella.
Donald Trump is well-known in the real estate world and has sold some of the most expensive properties in the U.S. The Trump Organization real estate portfolio includes properties in Virginia, Illinois, Florida, New Jersey, Nevada, California, New York, Connecticut and Hawaii. New York makes up the bulk of this portfolio with ownership of some of the most expensive and tallest properties in the state. His international properties can be found in Canada, Turkey, Panama, South Korea, the Philippines, India, and Uruguay.
The Trump Organization is a stakeholder in several properties in the Vornado Realty Trust portfolio. This includes the 555 California Street Tower in San Francisco and 1290 Avenue of the Americas in New York City.
The Trump Organization owns hotel properties and also licenses Trump's name to properties around the world. Trump hotels can be found in Illinois, Nevada, Florida, New York and Hawaii. International properties are in Ireland, Panama and Canada, and under construction in many other regions.
One of the key pieces to the hotel and real estate portfolios is the Trump International Hotel & Tower in Chicago. This building has been an AAA Five Diamond-rated property since 2001. The Trump International Hotel & Tower Waikiki Beach Walk was one of the first ultra-luxury properties in the state of Hawaii and contains 462 guestrooms.
The hotel portfolio continues to be a significant growth opportunity for The Trump Organization. In 2016, new hotels bearing the Trump name will open in Vancouver, Canada, Rio de Janeiro, Brazil, Washington D.C. and Baku, Azerbaijan.
Over the years, The Trump Organization has added to its portfolio of golf courses around the world. As of August 2016, this portfolio consists of 17 properties that include prestigious courses designed by some of the top names in the sport. The Trump Turnberry in Scotland, formerly called Turnberry Golf Club is one of the most historic courses in the world and has hosted top PGA, LPGA, and Senior PGA Tour events. However, controversial comments made by Trump prompted execs at the Royal and Ancient Golf Club of St. Andrews to reconsider endorsing Turnberry as a venue for the 2020 Open. That said, the Trump organization is currently building two new courses in Dubai, adding to the organization's international presence.
The Trump Organization owns a stake in Trump Entertainment Resorts, Inc. The company, formerly known as Trump Hotels and Casino Resorts until 2004, is now owned by Icahn Enterprises L.P (IEP). The IPO of this company was instrumental in Trump's comeback in the mid-1990s. When Trump Hotels and Casino was launched, it was comprised of Trump's three casinos: the Trump Plaza, Trump’s Castle, and the Trump Taj Mahal and a riverboat emporium. The shares of this company soared throughout the 90s and in 1996, the company had a market cap in excess of $1 billion. This enormous market cap made Trump’s 41% stake worth around $400 million. However, even in the 90s, the company struggled with debt. Harrah’s at Trump Plaza closed in 2014, and Trump Entertainment now owns only one property, the Trump Taj Mahal in Atlantic City. Trump Entertainment Resorts has seen its fair share of problems with debt and financing, entering bankruptcy in 1991, 2004, 2009 and 2014.
Trump Model Management
Trump Model Management is a modeling agency founded by Trump. The company is a natural extension of Trump's interest in beauty pageants, with his production company formerly producing Miss USA pageants and 'Pageant Place.'
Success by Trump
Trump Success eau de toilette spray is a male fragrance sold by Macy's Inc. The brand was launched in March 2012, and the scent contains scented blends of juniper, red currant, coriander, frozen ginger and other identifiable scents. The Success fragrance line is a collaborative effort between Five Star Fragrance Company and The Trump Organization, the parent company of Success.
Trump Business You Likely Didn’t Know Existed
While Trump is the acting chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts, he owns many businesses that have flown under the radar. Below, are a few of his lesser-known companies.
Sentient Jets, LLC (Trump Jets LLC)
Also known as Trump Jets, Sentient Jet works with an elite group of independent private jet operators to offer private flights to its clients. The business model works through a private jet card, where customers can purchase private jet travel time in hourly increments. The company offers the services of private jets to high-net-worth individuals (HNWIs) without requiring them to own their jets outright. Instead, they can make travel accommodations through the company's client management team. The company states it offers hourly rates that are as much as 30% below average.
Trump Productions, LLC
Trump Productions is the American TV production company founded by Trump in 2004. It operates as the entertainment business entity of the larger Trump Organization. While people may be familiar with the TV shows it produces, including 'The Apprentice,' 'Pageant Place,' 'The Celebrity Apprentice' and 'The Ultimate Merger,' they may be unfamiliar with the fact that Trump owns the production company itself.
Trump’s Failed Businesses
The Trump Entrepreneur Initiative
The now defunct Trump Entrepreneur Initiative was once known as Trump University LLC. The for-profit education company offers courses in real estate, asset management, entrepreneurship and overall wealth creation. The company is not an accredited school and does not offer high school or college credits. It was one of Trump’s least popular enterprises and was embroiled in scandal.
The company faced a lawsuit in August 2013 regarding illegal business practices. The attorney general of New York filed a $40 million civil suit that alleged the corporation made false promises to its students. A New York judge found Donald Trump personally responsible for the allegations.
Trump Ice is a bottled water brand owned by Donald Trump. The winner of 'The Apprentice' season two, Kelly Perdew, served as executive vice president of the organization until recently. Currently, the company's website has been taken down, and the product can no longer be found in national grocery chains or stores.
Trump Ice was distributed by Mountain Spring Water in the East Coast. The company was used as a gimmick in season one of 'The Apprentice,' where contestants had to market and sell the product. Since then, it has fallen on hard times and is now out of distribution.
Trump Brands Affected by Trump’s Controversial Comments
In his successful campaign for the presidency, Trump has made controversial comments about immigrants in America, angering many, including several companies with which he had business relationships.
The controversy surrounding Trump has harmed the media assets of The Trump Organization the most. The company owned (or partially owned) ‘The Apprentice’ and the Miss Universe, Miss USA, and Miss Teen USA Pageants. Univision, a subsidiary of Grupo Televisa, decided against airing pageants on its channels due to the comments regarding immigrants made by Trump. NBC Universal, a unit of Comcast, ended its business relationship with Trump and will discontinue using Trump on 'Celebrity Apprentice.' Trump eventually sold the rights to the pageant shows to WME/IMG in 2015.
The home and clothing companies of The Trump Organization are also taking a hit due to Trump’s brash comments. The Donald J. Trump Signature Collection, which includes dress shirts and ties, was pulled by Macy’s stores. However, the clothes can still be found on Amazon’s website. Moreover, The Donald Trump home brand, which was used by Serta, was pulled from the mattress brand's stores.
The Bottom Line
Donald Trump has dabbled in an array of businesses from bottled water to luxury hotels. The President-elect's personal financial-disclosure report is extensive and lists Trump as a trustee, president, chairman, or member for more than 530 entities. Almost half of these companies listed have Trump's name as part of the company name. Trump's brash brand has earned him lucrative licensing deals; however, not all of his businesses have been successful, and several of his enterprises have been hit by his controversial comments. (For more insights on how Trump built his empire, read: This is How Donald Trump Became Rich).