If Trump wins, what will happen to his company?
Perched twenty-five stories above Fifth Avenue in his sun-drenched corner office, Eric Trump discusses the allure of luxurious hotels and golf resorts in Oman and Indonesia, alongside a newly inked development agreement in Vietnam. Plans for Israel are currently suspended due to the ongoing conflict in Gaza; however, there are intentions to significantly increase involvement in the region in the future. What implications would arise should his father reclaim the presidency? “It is premature to draw conclusions,” remarked the second-born son of Donald Trump, who leads the Trump Organization. Nevertheless, by directing the family towards cryptocurrency and forming connections with the Saudi-backed LIV Golf, he is charting a course for expansion. Such endeavors may solidify his standing within the business sphere, simultaneously reigniting apprehensions regarding possible conflicts of interest in a subsequent Trump administration.
“Is it prudent to halt all expansion?” The answer remains elusive. “I endeavored to execute all the necessary measures in 2016, yet received scant acknowledgment for my efforts,” he remarked regarding attempts to separate the newly elected president from the corporation. “We were rather decisively overwhelmed.” If Donald Trump Jr. has assumed the role of the crown prince within the MAGA sphere, then 40-year-old Eric Trump stands as the steward of the family business empire. While less vociferous in his partisanship compared to his brother and not as prominent as his sister, Ivanka, Eric may nonetheless assume a pivotal role in steering the family business into a new chapter. At 78, Donald Trump retains ownership of the majority of Trump Organization assets and continues to participate in significant decision-making. However, since the 2016 election, Eric has taken the reins of day-to-day operations.
According to Eric Trump, should his father prevail over Vice President Kamala Harris, he will be isolated from the company. However, the examination is likely to intensify. In contrast to his previous presidential campaign, Trump now possesses a significant interest in his Truth Social platform, which is appraised at $4 billion. Additionally, he has endorsed the cryptocurrency venture initiated by Eric and Don Jr., known as World Liberty Financial. “It was Pandora’s box before, but now it’s significantly larger,” remarked Richard Painter, who served as the White House’s chief ethics lawyer under George W. Bush and played a role in legal actions contending that Trump had unlawfully benefited. “There exists a significant risk of corruption.”
Sporting slicked-back hair and a tailored business suit, Eric Trump presents a youthful iteration of his father, whom he affectionately calls “DJT.” He opts for a close-cropped beard and, in contrast to his father’s preference for Diet Coke, chooses unsweetened Pure Leaf iced tea. He is well aware of the critiques suggesting that his position is a result of nepotism. He has previously referred to it as a “factor of life” and maintained that he has demonstrated his capabilities. He has weathered the portrayal crafted by late-night television personalities, including Stephen Colbert, who labeled him the “dullest knife in the Republican drawer.” Eric asserts that he is precisely where he ought to be. “I am likely the most trusted individual in a man’s life,” he remarked, “which is precisely why I occupy this position behind the desk.” Nonetheless, he has accompanied his father on the campaign trail and collaborates with his brother on their father’s transition initiative, seeking loyalists to potentially join a new administration.
At a recent campaign rally, Donald Trump remarked that his son has received numerous subpoenas connected to inquiries into the Trump empire, asserting that he managed the situation “beautifully.” According to Eric Trump, the total reached an impressive 111, prompting him to meticulously document them using a spreadsheet. The gathering in Butler, Pennsylvania, occurred three months subsequent to the assassination attempt on the former president. “They pursued us.” He was impeached on two occasions, and subsequently, there were attempts on his life,” Eric Trump remarked to the assembly of tens of thousands. “An assassination attempt was made against him, attributed to the actions of the Democratic Party.” The remarks were promptly denounced by Democrats, while the FBI has yet to determine a motive. “I stand firm in my statements,” Eric Trump remarked regarding his remarks at the rally. From his office at Trump Tower in Manhattan, he observed that Biden, just days prior to the Butler assassination attempt, had informed donors it was “time to put Trump in a bull’s-eye,” a statement the president subsequently expressed regret over, claiming it was not intended to be taken literally.
Eric Trump acknowledges errors made by the Secret Service, yet, akin to his father, he commended the agents who intervened on stage. A female agent who embraced the former president had earlier been tasked with Eric Trump. “She would sacrifice herself for him or me,” he stated. His office is adorned with artifacts that reflect both history and contemporary significance. A photograph captures a young boy perched atop a construction crane. A decorative box rested on the floor, containing the scissors designated for the ceremonial ribbon-cutting. Affixed to the wall are dollar bills inscribed by his father—an assemblage from a series of wagers they have engaged in.
During his formative years, he dedicated his summers to laboring on his father’s construction sites, experienced helicopter rides, and encountered luminaries like Michael Jackson and Hulk Hogan. However, he exhibits signs of tension when discussing the pressures the family has encountered since his father’s foray into politics, including a succession of investigations that Trump has characterized as partisan witch hunts. “Investigators have subjected us to an arduous ordeal,” stated Eric Trump. He is notably displeased by the scrutiny surrounding the profits generated at Trump International Hotel in Washington, D.C. Trump stated that the family has returned profits to the U.S. Treasury that were derived from foreign government officials. Critics initiated legal action, arguing that the operation contravened the emoluments clauses of the Constitution, which forbid the president from accepting valuable benefits from foreign and state entities. The Supreme Court deemed the case moot following Trump’s defeat in the 2020 election. In 2022, the Trumps divested the long-term lease on the hotel for $375 million—a figure that exceeded competing offers by tens of millions, marking a significant achievement for Eric.
Eric expresses confidence that the business can operate smoothly in the absence of conflicts should his father secure re-election. “I assure you, I will not engage in finger painting and attempting to market it to China for $500,000,” he remarked, alluding to Hunter Biden, the son of President Biden, whose commercial activities and art transactions have faced significant examination. Eric frequently dedicates his mornings to conducting interviews, engaging not only with Fox News but also with various radio stations and local television outlets. However, following the election, he intends to withdraw from public view and concentrate on his business endeavors. “I do not consistently require a position in front of the camera.” It is advantageous to selectively determine one’s opportunities.
Spending approximately 200 days annually on the road, he frequently reaches out to his two young children to share prayers and recite the Pledge of Allegiance. He collaborates with his wife, Lara Trump, in fulfilling parenting responsibilities; she holds the position of co-chair at the Republican National Committee. In 2021, the couple acquired a residence in Jupiter, Florida, for $3.2 million, situated approximately one mile from Don Jr. Eric articulates a profound bond with his brother, characterized by a mutual passion for hunting. Don Jr. and Ivanka, alongside Eric, dedicated a significant portion of their adult lives to the Trump Organization. At one juncture, they delineated their responsibilities according to asset class, with Eric concentrating mainly on the construction and acquisition of golf and hotel ventures. Ivanka emerged as her father’s preferred child, as noted by former executives and acquaintances of the family, captivating him with her flair, business insight, and the entrepreneurial prowess she exhibited through the establishment of her own clothing and accessories brands.
Ivanka redirected her attention towards political engagement and provided counsel to her father as he assumed the presidency. Jared Kushner, her spouse, assumed the role of a senior adviser in the White House. Donald Trump indicated that Eric and Don Jr. would oversee operations during his tenure in the White House. However, in recent years, Don Jr. has increasingly focused his efforts on the political arena. The Trump Organization curtailed its expansion following Trump’s ascension to the presidency, influenced by concerns regarding conflicts of interest and backlash stemming from his stringent stance on illegal immigration, which adversely affected the Trump brand in certain markets. The Trump Organization has retreated from numerous international agreements that were under consideration.
Eric bolstered the financial standing of the Trump Organization by settling hundreds of millions in liabilities and generating liquidity through asset sales and refinancing activities. He was the individual meticulously managing the intricacies when events for LIV Golf, the Saudi-backed challenger to the PGA Tour, were hosted by the Trump Organization. As many of the premier golf courses globally distanced themselves from LIV, the Trump Organization identified a strategic opportunity after the PGA of America withdrew its major championship from Trump National Golf Club Bedminster in 2022, a decision influenced by the events of January 6, 2021, at the Capitol. Trump courses have played host to six LIV events throughout the circuit’s inaugural three seasons. The financial arrangements between the Trump courses and LIV mirrored those of other U.S. courses, involving a site fee in the vicinity of seven figures, as reported by sources knowledgeable about LIV’s operations. LIV has not yet disclosed its intentions regarding the potential use of Trump courses in 2025. However, any engagement with a Trump course by LIV during his presidency would swiftly thrust the circuit back into a renewed debate surrounding emoluments.
The historical ties between the Trump Organization and LIV may complicate policy discussions regarding U.S.-Saudi relations in the event of a future Trump administration, irrespective of any legal disputes. Eric Trump has revitalized his company’s initiatives for foreign expansion. The Trump Organization has partnered with Dar Al Arkan, a Saudi real-estate company, to create a $1.6 billion Trump-branded golf and resort development in Oman. The initial stage of the project is anticipated to reach completion by 2027.
This year, Trump and Dar Al Arkan unveiled plans for a new condominium project in Jeddah, Saudi Arabia, alongside a golf resort in Vietnam. Initiatives commenced prior to Trump’s election in 2016 persist in both Indonesia and India. In these various initiatives, the Trump Organization refrains from deploying its own capital, instead offering its branding, marketing, and management acumen. Eric Trump continues to navigate the legal challenges facing his company while grappling with difficulties in the office market, all the while striving to establish his own unique identity. Concluding an interview from his office with a view of Fifth Avenue, Eric Trump indicated his willingness to join his father’s new administration should he be invited. However, he unequivocally articulated his intentions. “I have a deep appreciation for our organization and a strong passion for real estate,” he stated. “I have a passion for construction.”
