Trump Organization
Overview
The Trump Organization is an American privately owned international conglomerate based in Trump Tower in Midtown Manhattan, New York City. It serves as the principal holding company for President Donald Trump's family businesses. The organization's business operations encompass a wide array of industries including real estate, hospitality, and entertainment.
History
The Trump Organization was originally established by Donald Trump's paternal grandmother, Elizabeth Christ Trump, and his father, Fred Trump, in 1927 as E. Trump & Son. The company was primarily active in the New York boroughs of Queens and Brooklyn. Fred Trump amassed a significant fortune through his real estate ventures and passed it on to his children.
Business Operations
The Trump Organization operates in various sectors of the economy. These include:
Real Estate
The organization's real estate portfolio includes commercial, residential, and hotel properties. Some of its notable properties include Trump Tower in New York City, Mar-a-Lago in Palm Beach, Florida, and the Trump International Hotel in Washington, D.C.
Hospitality
The Trump Organization owns and operates several hotels, resorts, and golf courses around the world. These include the Trump International Hotel and Tower in Chicago and the Trump National Golf Club in Bedminster, New Jersey.
Entertainment
The organization has also ventured into the entertainment industry. It owned the Miss Universe, Miss USA, and Miss Teen USA pageants from 1996 to 2015. Additionally, Trump Productions, a television production company, was formed in 2004.
Controversies
The Trump Organization has been involved in a number of controversies and legal proceedings. These include allegations of racial discrimination, business fraud, and violations of the Emoluments Clause of the United States Constitution.
Current Status
As of 2021, the Trump Organization is under the leadership of Donald Trump's sons, Donald Trump Jr. and Eric Trump. The organization continues to operate in various sectors of the economy, with its primary focus remaining on real estate and hospitality.