Trump’s canceled contracts overseas total just $323K

President-elect plans to discuss his divestment plan Wednesday

TRD 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
Gov. Andrew Cuomo with Judge Lawrence Marks and Judge Daniele Chinea (Getty, Linkedin, iStock)

Flip-flop on eviction ban extension highlights state’s chaotic response

Flip-flop on eviction ban extension highlights state’s chaotic response
Eviction filings have fallen in several major cities after a second federal eviction moratorium came into effect early September. (iStock)

Eviction filings fall after Trump moratorium: study

Eviction filings fall after Trump moratorium: study
From left: Joe Biden, Starwood Capital's Barry Sternlicht, Blackstone's Stephen Schwarzman and Donald Trump (Getty; iStock)

Where real estate’s investment giants stand on Biden vs. Trump

Where real estate’s investment giants stand on Biden vs. Trump
President Donald Trump and HUD Secretary Ben Carson (Getty; iStock)

Trump’s fair housing repeal roils multifamily developers

Trump’s fair housing repeal roils multifamily developers
New York Attorney General Letitia James and President Donald Trump (Getty)

NY AG sues Trump for favoring projects over environment

NY AG sues Trump for favoring projects over environment
Trump’s crackdown on TikTok and WeChat could further chill Chinese investment in U.S. real estate.

TikTok, Clarice: Why the government’s moves against Chinese firms could hurt real estate

TikTok, Clarice: Why the government’s moves against Chinese firms could hurt real estate
arrow_forward_ios

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

Loading...