Eric Trump, at the helm of the family empire under the watchful eye of his father
The President's third child, "the one who manages the money," plans international expansion after Donald Trump's term ends
On March 17, the Nevada governor's office contacted Eric Trump to say he had 24 hours to shut down the family-run Las Vegas hotel. In a few days, most of the Trump Organization's establishments went out of business due to the coronavirus pandemic and, at the height of his 36 years, the son of the real estate mogul had to deal with one of the worst crises that the group has known for decades.
Soon after, in a televised press conference, President Trump quietly tackled his son. Joking that he was eager to compare the quality of his management to that of his offspring, he concluded, "I think I am doing better."
When Donald Trump was elected, his daughter Ivanka accompanied him to the White House. His eldest son, Donald Junior, quickly turned to politics. The youngest therefore found himself at the head of the real estate empire built by his father.
Eric Trump is convinced that his performance will live up to his father's expectations. Despite limited expansion and investigations into some practices, he says 2019 has been one of the most profitable in the group's history. “We have never been stronger,” he said.
According to him, when his father's presidential term is over, the Trump Organization will launch a major offensive that will target luxury hotels abroad in particular. In the past, the group had considered expanding in the Middle East and China, a country the president does not hesitate to criticize, whether it be trade, Covid-19 or other subjects.
For their part, the Democrats accused the president and his company of seeking to profit from the presidency, which the Trump Organization denies. Contacted for this article, she declined to provide recent figures on her performance. This week, the Office of Government Ethics will release information on Donald Trump's financial situation in 2019, a report that will reveal more about his company's performance before the health crisis.
At the height of the lockdown, the group's hotels and golf courses were losing more than $ 1 million in revenue per day, according to a Wall Street Journal analysis. Executives have said that cash generated from other businesses, including office real estate, helps ...
