LeFrak, Roth to head up Trump’s new infrastructure council

Developers will help oversee up to $1 trillion in spending and private investment

New York /
Jan.January 16, 2017 04:02 PM

UPDATED: Thursday, Jan. 19 at 10:12 a.m.: President-elect Donald Trump tapped longtime friends and fellow developers Steven Roth and Richard LeFrak to head up a council that will monitor national infrastructure spending.

“They’re pros,” Trump Told The Wall Street Journal Friday. “That’s what they do. All their lives, they build. They build under-budget, ahead of schedule.”

Both Roth TRData LogoTINY, who leads Vornado Realty Trust, and LeFrak, who heads the LeFrak Organization, have agreed to take the new positions, Trump said.

In October, Trump economic advisors Wilbur Ross and Peter Navarro unveiled an infrastructure plan set on generating up to $1 trillion in private investment by doling out $137 billion in tax cuts.

Roth and LeFrak have been fixtures of the New York real estate industry for decades and both are known to be among the president-elect’s closest friends. LeFrak was at one time the only personal friend allowed to bring his dogs to Trump’s Mar-a-Lago estate in Palm Beach, and Roth, who co-owns 1290 Sixth Avenue with Trump, has a relationship with the president-elect that dates back to the 1980s.

While LeFrak was a major donor to the Trump campaign, giving $100,000 to the candidate’s victory fund last summer, Roth, a campaign economic adviser, remained mysteriously quiet with both his words and with his wallet. He gave no money to Trump and when asked in a call with investors last September about his involvement with the campaign he simply said “I don’t spend any time on it.” Campaign finance records later revealed that he donated $250,000 to Trump’s campaign. [WSJ] — Will Parker

Clarification: Although Roth did not donate to the Trump campaign for much of the presidential race, he later donated $250,000.


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
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
Paul Manafort and 174 Jobs Lane (Getty, Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
Chicago bank sues Manafort to foreclose on Hamptons mansion
Chicago bank sues Manafort to foreclose on Hamptons mansion
arrow_forward_ios

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

Loading...