Trump Transferred Ownership Of Businesses To Trust Controlled By Trump’s Son And His CFO

 In Conflicts Of Interest   Last Updated: June 22, 2017

On January 19, 2017, the day before Trump’s swearing in as President, Donald Trump Jr. and Allen Weisselberg were named the only two trustees of the Donald J. Trump Revocable Trust.  President Trump also transferred all of his ownership stake of DJT Holdings Inc, the holding company for many of President Trump’s assets, to this new Trust.  The purpose of this trust is “to hold assets for the exclusive benefit of Donald J. Trump“.

This trust is not blind, and President Trump can receive information about the performance of assets held by this trust, but the amount of information is now “sharply limited”.

Trump also resigned from 488 companies in which he held some position or interest on January 19, 2017.

However, “the trust also does not dissolve other potential conflicts, including his title as executive producer of the NBC competition reality show “’Celebrity Apprentice.’”

As of February 2017, Trump’s campaign website still describes Trump as “Chairman and President, The Trump Organization“.

 

 

 

 

 

Letter to Washington D.C. Alcohol Beverage Control Board.” ABRA (n.d.): n. pag. ProPublica. Web. 5 Feb. 2017.
Helderman, Rosalind, and Drew Harwell. “Documents Confirm Trump Still Benefiting from His Business.” The Washington Post. WP Company, 4 Feb. 2017. Web. 06 Feb. 2017.
Craig, Susanne, and Eric Lipton. “Trust Records Show Trump Is Still Closely Tied To His Empire.” NY Times. N.p., 3 Feb. 2017. Web. 5 Feb. 2017.
Trump, Donald. “About.” Donald J Trump for President. N.p., n.d. Web. 05 Feb. 2017.

 

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