Trump tried to develop towers in Russia in the ’80s: report

Developer partnered with oligarchs, negotiated with Soviet officials

New York /
Aug.August 01, 2016 06:00 PM

Donald Trump attempted to build a luxury hotel in Soviet Moscow in the 1980s and has repeatedly sought development opportunities in Russia, while keeping close relationships with post-Soviet oligarchs, the Wall Street Journal reported.

In his 1987 book “The Art of the Deal,” Trump wrote that he flew to Moscow in 1987 to negotiate with Soviet officials about building a luxury hotel across the street from the Kremlin. “I was impressed with the ambition of the Soviet officials to make a deal,” he wrote of the negotiations, which ultimately failed.

In the 2000s, Trump partnered with Kazakh billionaire Tevfik Arif and his Bayrock Group TRData LogoTINY on the Trump Soho development. The two reportedly also planned to build hotels in Moscow and Kiev, among other places, but the projects never got off the ground. “It’s ridiculous that we wouldn’t be investing in Russia. Russia is one of the hottest places in the world for investment,” he said in a 2007 legal deposition.

Trump also partnered with Russian-born Alexander Shnaider, a wealthy steel trader, on a Trump tower development in Toronto.

“Russians make up a pretty disproportionate cross-section of a lot of our assets,” Trump’s son Eric Trump said in a 2008 speech, according to a transcript.

The developer-turned-Republican presidential candidate recently invited controversy by defending Russia’s president Vladimir Putin and suggesting that Russian hackers should hack into Hillary Clinton’s emails. [WSJ] — Konrad Putzier 


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
Jamie Dimon, Steve Roth, Donald Trump and 555 California St. (Trump, Getty)
Vornado lines up $1.2B refi of SF tower co-owned with Trump
Vornado lines up $1.2B refi of SF tower co-owned with Trump
President Joe Biden (Getty, Education Next)
Biden administration considers Opportunity Zone overhaul
Biden administration considers Opportunity Zone overhaul
Allen Weisselberg and Manhattan District Attorney Cy Vance (Getty)
Feds subpoena Trump CFO’s personal bank records
Feds subpoena Trump CFO’s personal bank records
From left: Joshua Kushner and Karlie Kloss; Melania and Donald Trump; Ivanka Trump and Jared Kushner; and Tiffany Trump (Getty Images)
Here’s where Trumpworld has put down roots in South Florida
Here’s where Trumpworld has put down roots in South Florida
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...