Last updated on December 4th, 2016 at 06:00 pm
The Trump Organisation is a New York-based international conglomerate business which offers a range of services including construction, real estate development, hospitality, and entertainment. Moreover, as a conglomerate, the organization has diversified investments all over the world. Currently, Donald Trump is the chairman of the organization. However, he will hand over the responsibilities to his eldest children Donald Jr., Eric and Ivanka Trump before taking the oaths of oval office.
The Trump Organisation was established by Trump’s father Fred Trump in 1923 and named Elizabeth Trump & Sons. Primarily, the company was focused only on real estate development. Donald Trump took over the company in 19273 and renamed it: The Trump Organisation.
The President-elect Donald Trump is said to have been the sole owner of all the real estate holdings of The Trump Organisation. As of 2016, Donald Trump is estimated to be worth around $3.7 billion. However, Trump himself claims it to be a wrong figure – it should be $10 billion.
The iconic Manhattan-located Trump Tower is perhaps the most valuable asset of the organization. It was built in 1983. Besides, the organization has 33 hotel projects around the world including the seven condos. Trump also owns more than 15 golf courses around the world which generate a profit of millions of dollars every year. The Trump Winery located in Charlottesville, Virginia was purchased by the organization in 2011. The asset is valued at around 25 million dollars.
The Trump Organisation has major investments in Mumbai, Pune, Dubai, Toronto, Panama and Istanbul. Inside the US territories, the company has invested hugely in New York and Florida. In contrary to the successful ventures, The Trump Organisation has made numerous failed investments. Trump Steak, Trump University, and Trump Airlines are the popular ones which made a lot of fuss in the US Presidential Election 2016.
The Trump Organisation rose from a multi-million business to a multi-billion organization. The credit undoubtedly goes to the visionary Donald Trump.