Donald Trump's Sons Have Sold More Than $100 Million Of His Real Estate Since He Took Office

[Demovictory9]

https://www.forbes.com/sites/danalexander/2019/10/02/donald-trump-has-sold-more-than-100-million-of-real-estate-since-taking-office/#771d4ddb1090

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In some ways, the Trump fortune could use a risky bet or two: The president is worth $3.1 billion (good for No. 275 on The Forbes 400), the same as a year ago and down $400 million from when he took office. But Don Jr. and Eric are playing things conservatively, tending to their properties, paying down debt and stockpiling a hoard of cash. Since their father’s inauguration, they have sold off $110 million of the president’s real estate holdings—through more than 100 tiny transactions that have mostly flown under the radar.

In the Dominican Republic, the younger Trumps sold a piece of land in January 2018 for $3.2 million. It was the clearest violation of their father’s pledge to do no new foreign deals while in office. (The Trump Organization would not comment for this story.) In other cases, they’ve done business with wannabe influencers who seemingly recognized an opportunity to line the president’s pockets. They sold Trump’s mansion in Beverly Hills for $13.5 million to a company tied to Indonesian billionaire (and Trump business partner) Hary Tanoesoedibjo. They off-loaded a Manhattan penthouse to a woman who runs a business selling access to Chinese officials.

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Other deals wouldn’t turn heads if the seller were anyone but the president of the United States. With Trump in the Oval Office, however, things can get strange. Take the roughly $900 million sale of Spring Creek Towers, America’s largest federally subsidized housing complex. Trump owned a 4% stake, a remnant of his father’s outer-borough empire. Secretary of Housing & Urban Development Ben Carson had to give his approval to make the deal happen, according to property records. That put Trump’s subordinate in the awkward position of having to green-light a transaction that paid his boss an estimated $33 million.

[BigmanPigman]

1. I am sure most of his finances are hidden very, very well.

[RockRaven]

2. They are in their window of "people will pay us bribes disguised as purchases of over-leveraged

and over-priced real estate turkeys" so of course they are cashing out as much as possible! Gotta get that cold hard currency now, before he's out of office and nobody is willing to overpay as a de facto bribe.

[Dan]

3. Maybe he plans to run?

[abqtommy]

4. snark on: If only we had some emoluments law to use in investigating all this. snark off