Donald Trump's conflicts of interest | The Economist - 0 views
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Donald Trump’s conflicts of interest
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outraged suspicion is mounting that the Trump Organisation could morph into a vast global network of cronyism.
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Paul Krugman, a left-of-centre economist, has suggested that the Trump family could reap $10bn while its patriarch is in office.
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Half of the group’s entire worth consists of five buildings: Trump Tower and two other Manhattan buildings, and passive stakes in two offices in New York and San Francisco that are controlled by Vornado, a real-estate trust that is entirely separate.
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Trump Inc is worth perhaps $4bn, with $490m of annual revenue. Were it listed it would be the 833rd-largest firm in America by market value and 1,925th by sales
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If Trump family members are to make a second fortune in the next four years, they will have to reinvent a mediocre firm.
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The Trump Organisation could now profit from the presidency in two ways. First, the profits of existing assets could rise
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What has risen fast is the volume of rooms sold in the group’s hotels, which is up by an average of 40% in 2016.
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Mr Trump owed over $120m to Deutsche Bank according to his 2015 filing. If new Trump projects are subject to claims of conflicts and cronyism, global banks that are exposed to litigation and congressional hearings in America may not stump up.