Real estate, hotel, golf course giant Earlier this week, Hung Yen provincial leaders worked with senior leaders of The Trump Organization - the family corporation of former US President Donald Trump. The corporation wants to cooperate and invest in Hung Yen in the construction of hotels, golf courses and entertainment complexes. Trump Organization is a multi-industry private corporation, operating in many fields, including real estate, hotels, golf courses, entertainment, property management... This corporation was founded in 1927 and initially operated mainly in the field of construction and real estate development in New York. In 1971, Mr. Donald Trump took over the corporation and expanded its operations to many other fields, including hotels, golf courses, entertainment, property management, brokerage, marketing... After Mr. Donald Trump took over, Trump Organization had its first famous project, the Grand Hyatt New York in 1980, which was renovated from the Commodore Hotel in Manhattan.

Former US President Donald Trump. Photo: NYPost

The Trump Organization then rushed to carry out real estate projects throughout Manhattan, the most densely populated district in New York. In this economic and commercial center of the United States, Mr. Donald Trump built the most luxurious building, Trump Tower at 721-725 Fifth Avenue between 56th and 57th streets in Midtown Manhattan. Trump Tower is over 200m high, 58 floors, inaugurated in 1983 and is considered one of the iconic buildings of New York. This is also the location and office of many high-end brands and Mr. Trump's family. Trump Tower is considered a testament to Mr. Trump's great vision as a destination for wealthy Americans. The Trump Organization earned 300 million USD from selling apartments in this tower. The Trump family owns a penthouse occupying the top three floors, with a valuable view overlooking Central Park. Mr. Trump works on the 26th floor, with a private elevator that can take him from his office to his family apartment. Trump World Tower is an apartment building in the Turtle Bay neighborhood, also in Midtown Manhattan. The building was developed by Donald Trump and built from 1999-2001, standing 262m high.

Donald Trump's office at Trump Tower. Photo: BI

Famous Vietnamese-American billionaire Chinh Chu, husband of singer Cam Ly, known as the "formidable man" of Wall Street, spent more than 34 million USD to buy an entire floor at Trump World Tower as a 1,400m2 penthouse. The apartment has a view opposite the United Nations headquarters. Trump Organization has dozens of golf courses, hotels and many apartment buildings. In the documents published during the election campaign, Mr. Trump said that Trump Organization was formed from more than 500 different companies. Mr. Trump is also on the board of directors of several companies based in the UK. Mr. Trump did not run Trump Organization while president During his 4 years as US president from 2017-2020, Mr. Donald Trump stopped running Trump Organization. At the end of 2016, Mr. Donald Trump's lawyer told CNN that Mr. Trump did not want to take advantage of his presidential power to increase his assets. Trump Organization was then put into a trust fund to avoid conflicts of interest. He handed over the reins to his children in 2017. The business, of course, remained in the Trump family’s hands. Ivanka has since run the hotel division, Donald Jr. is in charge of the golf course division, and Eric manages the winery and new development projects.

Trump's children ran the Trump Organization when Trump was president of the United States. Photo: Express

During Trump's presidency, his family slowed down its expansion and reduced contracts with international partners that could cause conflicts of interest. Trump's children did not make many new deals, only letting their assets grow naturally. Trump's political path has led to a significant impact on the Trump Organization's business. During his election campaign, his controversial policies and comments negatively affected the Trump brand. The number of visitors to Trump Organization's resorts has also decreased. In recent years, Trump Tower has been associated with federal investigations into Trump and protests in support of/against Trump when the former US President was under criminal investigation. Trump Tower is surrounded by iron gates and armed security, causing a lot of damage to the building and its tenants. The occupancy rate at this building has continuously decreased in recent years, instead of the previous 99%. During Donald Trump's first election campaign and his four years in the White House, the former US President's foreign business dealings were closely monitored for potential conflicts of interest.

Protest in front of Trump Tower. Photo: AN

After Mr. Trump was no longer president, since 2021, the Trump Organization has resumed its global expansion efforts, with the construction of more golf courses and real estate projects abroad, including Scotland, India, Indonesia, Oman, Saudi Arabia... worth billions of dollars. Over the years, the Trump Organization has also withdrawn or stopped calculating projects in many countries, including Russia, China, Brazil... Recently, Mr. Trump's assets have also fluctuated continuously as the stock of Trump Media & Technology Group - the company that operates the social network Truth Social founded by Mr. Donald Trump - has continuously fluctuated according to developments in the race to the White House in November, from failed assassination attempts to support rates according to surveys... According to Forbes, as of September 19, former US President Donald Trump had a fortune of 3.9 billion USD and was only ranked 879th in the world. In mid-August, Donald Trump's fortune plummeted to $4.9 billion. In mid-July, according to Forbes, Trump had a net worth of $6.5 billion and was ranked 450th on the list of billionaires worldwide. The question is whether Trump will commit to ending foreign business deals again if he regains power in the White House. Some information from the Trump Organization said that it is likely to happen.

Vietnamnet.vn

Source: https://vietnamnet.vn/tap-doan-nha-ong-trump-muon-mo-san-golf-o-hung-yen-quy-mo-sieu-khung-ra-sao-2323862.html