How the Trump Organization Works

The criminal tax evasion lawsuit against the Trump Organization raises questions about the operation of the company founded by the former president.

Donald Trump, based in New York real estate is on the line over allegations that he avoided paying taxes by compensating employees through “off-the-books” perks such as luxury items and apartments.

A general view of signage above the entrance to Trump Tower, February 2017. It is the headquarters of the Trump Organization, which is under investigation for tax evasion.
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The lawsuit, in which Trump is not charged with any wrongdoing, is expected to feature testimony from the Trump Organization’s longtime chief financial officer, Allen Weisselberg, who has pleaded guilty to 15 counts related to tax evasionincluding conspiracy to execute a 15-year scheme to defraud tax authorities.

The trial has now been adjourned to Monday, November 7, after Trump Organization Comptroller Jeffrey McConney tested positive for coronavirus after speaking at the state Supreme Court in Manhattan.

Newsweek looked at what we know about the workings of the Trump family business.

Trump Organization Size

The Trump Organization is a large corporation that includes more than 500 corporate entities. Hundreds of these businesses are named after Trump, like their golf courses and hotels.

However, there are indications that the company’s scale has shrunk, due to a mix of the coronavirus pandemic and Trump’s controversial presidency affecting business.

In May 2022, former President Trump International’s flagship hotel, located a short distance from the White House in Washington DC, was sold to become a Waldorf Astoria.

The Trump Organization sold the lease of the former post office building to CGI Merchant Group for $375 million amid reports the hotel was hemorrhaging money over the years.

Trump Organization Revenue

As the Trump Organization is a private company, it does not have to make public any of its financial information such as quarterly results. The former president also notably refused to publish his tax returns.

Trump’s annual unaudited financial disclosures to the US Office of Government Ethics are the primary source of his companies’ revenue estimates, which New York prosecutors have allegedcan be unreliable.

A separate civil investigation led by New York Attorney General Letitia James also accuses Trump of fraud inflate the value of his goods and assets, including those belonging to the Trump Organization to obtain economic benefits such as larger bank loans.

As of January 2021, Trump Organization operations, including hotels and golf courses, reportedly generated at least $446.3 million in sales in 2019.

However, when the COVID-19 pandemic hit, the company saw a 40% drop in revenue to $278 million in 2020.

In 2020, data from Trump’s tax returns released by The New York Times showed the former president also reported losses of more than $315.6 million since 2000, including the Trump National Doral Miami, a major Florida golf resort, with losses of more than $162 million .

Trump Organization Employees

Trump no longer runs the company, having ceded power to his sons donald trump Jr and Eric Trumpwhen he entered the White House in 2017.

Since then, the company has been controlled by the legal entity Donald J. Trump Revocable Trust, essentially putting the former president’s eldest son at the helm of the organization.

However, it should be noted that even if a jury found the Trump Organization guilty of fraud, neither former President Trump nor his sons would be held personally liable as the charges are against a corporation.

Other senior Trump Organization executives include Larry Glick, executive vice president for development; Matthew Calamari, Chief Operating Officer; Ron Lieberman, executive vice president; and Alan Garten, Executive Vice President and Chief Legal Officer.

In terms of total number of employees, the Trump Organization has, in 2015, CNN reported, while citing PrivCo, the private company financial database, that the private company has 22,450 employees. However, it’s unclear if that number is still entirely accurate seven years later, especially in the wake of the coronavirus pandemic.

Newsweek contacted the Trump Organization for comment.

Aubrey L. Morgan