Trump’s canceled contracts overseas total just $323K

President-elect plans to discuss his divestment plan Wednesday

New York /
Jan.January 09, 2017 01:00 PM

The overseas contracts the Trump Organization is withdrawing from account for just $323,150 in revenue for the $3 billion company.

The licensing agreements for buildings in Argentina, Azerbaijan, Brazil and Georgia brought President-elect Donald Trump unwanted attention, but were also mired in difficulties, Bloomberg reported.

The planned Trump TRData LogoTINY hotel in Rio de Janeiro came under scrutiny of a criminal probe and a separate office property never got off the ground. Trump’s business partner in Azerbaijan has ties to that country’s government.

A tower planned in Buenos Aires lacked the required permits and a condominium building in Batumi, Georgia had been stalled since 2012.

The cancelled deals could have produced more revenue in the future because payments were “backloaded towards project completion,” according to Trump’s personal financial disclosures filed to the Federal Election Commission in May.

Still, the moves have done little to silence critics who say Trump has not done nearly enough to distance himself from his business holdings to avoid conflicts of interest.

“There are such deep-seated conflicts of interest built into this that it takes your breath away,” said political scientist Norman Ornstein of the American Enterprise Institute, a public policy group in Washington. “This is barely lip service to the notion that you’re doing something about it.”

Trump’s licensing deals brought in as much as $2.59 million in 2014 and the first half of 2015. The large bulk came from the Azerbaijan deal.

He is expected to outline his plan Wednesday for divesting himself of his business interests. [Bloomberg]Rich Bockmann


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
Gucci at Trump Tower (Getty)
Gucci renews lease in Trump Tower
Gucci renews lease in Trump Tower
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Unions, nonprofits push NY to drop Opportunity Zone tax break
Unions, nonprofits push NY to drop Opportunity Zone tax break
Donald Trump, Manhattan District Attorney Cy Vance and Trump Tower in New York (Photos via Getty, Wikipedia Commons)
DA Vance subpoenas NYC tax agency in Trump Org criminal probe
DA Vance subpoenas NYC tax agency in Trump Org criminal probe
A photo illustration of Donald Trump at the Wollman Rink in Central Park (Getty/Illustration by Kevin Rebong for The Real Deal)
Central Park ice rinks stay open amid Trump Org contract spat
Central Park ice rinks stay open amid Trump Org contract spat
Eric Trump and 6 East 57th Street (Getty, Google Maps)
Trump Org has big retail vacancy looming
Trump Org has big retail vacancy looming
Trump Plaza in Atlantic City (Getty)
Trump Plaza in Atlantic City is demolished
Trump Plaza in Atlantic City is demolished
arrow_forward_ios

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

Loading...