Trump Organization intends to create 25 entities for future product or hotel licensing deals, monitor says
By Kara Scannell, CNN
(CNN) — The monitor overseeing the Trump Organization’s finances wrote in its latest report that Donald Trump’s company intends to create 25 new entities for products or hotel licensing deals.
“The Trump Organization informed the Monitor that, contingent upon the execution of certain agreements, it intended to create 25 new entities for the purpose of either licensing products or merchandise and hotel licensing deals. For these contemplated transactions, there have been no financial disclosures to third parties, and there is no ongoing requirement for any such disclosures. One entity was dissolved during this reporting period,” the monitor wrote.
The monitor report did not specify if the potential deals will be domestic or foreign.
CNN has reached out to the Trump Organization for comment.
Trump’s family business came under scrutiny while he was in office for millions of dollars his properties received from foreign governments or government-controlled entities. He was sued for violating the emoluments clause of the US Constitution but the cases fizzled when the Supreme Court dismissed them as moot with Trump out of office.
Since Trump left the White House, his real estate company has inked deals in Oman and Vietnam and has hosted various golf tournaments by the Saudi-backed LIV Golf tour.
If Trump wins the election and his real estate business continues to develop overseas, questions about conflicts of interest are likely to return.
The-CNN-Wire
™ & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
