CNN
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The watchdog overseeing the Trump Organization’s finances wrote in its latest report that Donald Trump’s company intends to form 25 new entities for product and hotel licensing deals.
“The Trump Organization has informed the Monitor that it intends to create 25 new entities for the purpose of licensing products and merchandise, as well as hotel licensing agreements, subject to the performance of certain agreements. These plans There has been no disclosure of financial information to third parties with respect to the transactions undertaken, and there is no ongoing requirement for such disclosure.One entity was dissolved during this reporting period,” the Observer said. is writing.
The Monitor report did not specify whether the potential transaction was domestic or international.
CNN has reached out to the Trump Organization for comment.
Mr. Trump’s family business came under intense scrutiny during his time in office for receiving millions of dollars in property from foreign governments and government-controlled entities. He was sued for violating the U.S. Constitution’s Emoluments Clause, but the lawsuit stalled after the Supreme Court dismissed it as an issue following President Trump’s resignation.
Since Trump left the White House, his real estate company has struck deals in Oman and Vietnam and hosted various golf tournaments with the Saudi-backed LIV Golf Tour.
If Trump wins the election and continues to expand his real estate business overseas, questions about conflicts of interest are likely to resurface.
