Presidency Batters Trump’s Businesses 'Bigly’
For the politically embattled president Trump, who touts himself as the master of the deal, his businesses seem to have gone into a tailspin. In 2018, his company lost control of a hotel in Panama and saw its name stripped from a condo in New York’s SoHo neighbourhood , Toronto and Rio de Janeiro. According to the ‘The Washington Post’ his remaining properties too were buffeted by ill tidings. Golf courses lost money in Scotland, Ireland, Los Angeles and Bronx; Trump Tower lost rent revenue in Manhattan, and high-paying charity customers boycotted Mar-a-Lago in Florida. Though the Trump hotel in Washington continues to attract GOP fundraisers, interest groups and foreign embassy events, it brings with it the attendant allegation that these are meant to curry favour with its foppish owner and influence governmental policy. 2019 is set to bring new problems. Trump’s company is facing multiplying investigations from state and federal authorities, as well as lawsuits seeking to pry into its transactions with foreign governments. And House Democrats plan to use their new majority to delve into Trump’s business and personal finances. Crain’s New York Business estimates that the Trump Organization’s annual revenue, which stood at about re. 4,940 crore in 2016, fell between re. 318 and 635 cr. in 2017. There is little doubt that the company is paying more in legal fees than previously, though the amount has not been released.
