Trump’s Business Empire Isn’t What He Claims

New York Times: “The version of Mr. Trump’s business that he projects — a real estate development company that executes large, complex tasks — hasn’t existed for a nearly a decade, since the Trumps’ last two major construction projects failed to make money.”

“Instead, Mr. Trump’s wealth is now built on monetizing the family name in new ways and, intentionally or not, the office of the presidency. It is an enterprise in pursuit of multimillion-dollar checks — from actual real estate developers, from cryptocurrency and social media enterprises run by others. It is also a business that hawks Trump-branded trinkets like watches and gold-toned mobile phones to the president’s passionate supporters.”

“Many of the deals open multiple channels for anyone to funnel cash to a sitting president, often in ways that are untraceable under current disclosure requirements. And because some of what is being sold is use of the president’s name, there are no clear metrics to gauge whether he has received market rate, a premium because of his office or, in effect, a hopeful bribe.”