I write a lot about Donald Trump, his business, family, politics, and of course his legal troubles, because are witnessing the most impactful political and business implosion in American history. Certainly, there have been larger companies to fail, or other politicians to run afoul of the law. But, never have we seen the scale and scope of what Trump has wrought.
Most casual readers and observers of Trump’s current situation might know him to be embroiled in several legal cases regarding the 2020 US presidential election, or perhaps the Mar-a-Lago case centered on top-secret documents Trump had in his possession, or maybe the NY business fraud trial. He is defending himself at every angle against more than one hundred criminal and civil charges. His legal troubles are vast, and any of them has the potential to derail Trump’s political career and his freedom, as it is likely he will find himself imprisoned for at least one of his alleged crimes.
The Courtroom is Trump’s New Home
The case in Washington DC, the Jan 6th case, accuses Trump of intervening with the election and trying to halt the count of state electoral votes. It also blames him for sparking a violent outbreak at the US Capitol. In Florida, there’s the Mar-a-Lago document case, where Trump’s hiding and failure to return classified government documents has led to another criminal case.
In Georgia, Trump and 18 others face a RICO case. This case argues that Trump orchestrated a large criminal scheme to alter the voting results in Georgia. Out of the 19 charged, four have already admitted to smaller crimes in return for testifying against the other defendants.
A trial is set in New York for December 2023 regarding hush-money payments, with a total of 34 felony counts involved. He is also under trial in a civil case, known as the NY business fraud case, where his over 500 companies are directed to give up their business licenses and get ready for closure. A court-appointed overseer is already managing this, and the remaining trial segments will decide the fine amount and how much of the ill-gotten profits from his over/under valuing fraud will be recovered from his companies. The sheer extent of this impending business collapse might not be fully grasped by many.
Altogether, Trump is entangled in 46 lawsuits and investigations spanning different areas: 18 are tied to business, 7 to elections, 9 to the events of January 6th, and 12 are personal lawsuits. In May 2023, Trump was held accountable for sexual battery and defamation, with a follow-up defamation trial scheduled for January 15, 2024, to decide the compensation to be given to E. Jean Carroll, the victim.
The Business Empire that is No More
Trump has at least 20 different publically-facing business ventures, besides his brand licensing, golf, or property companies. These range from real estate-related services like Trump Financial, Trump Sales and Leasing, and Trump International Realty, to various retail and consumer goods like Trump Restaurants, Select By Trump coffee, Trump Drinks, and the Donald J. Trump Signature Collection of menswear and accessories. We have fragrance lines, a bottled water brand called Trump Ice, and Trump Chocolate. His media and entertainment businesses include Trump Productions, Trump Books (which has 171 titles), and Trump Media & Technology Group, which operates his social media app ‘TRUTH social’. He has even licensed his name for Trump: The Game, a real estate board game, and more recently, for Trump Cards, a series of NFTs. This is an incredibly diverse array of business interests and attempts to capitalize on his brand, though not all have been successful, with some, like Trump Vodka and Trump Steaks, ceasing operations.
Even though the Trump Org mainly handles licensing deals, there are still many properties in the portfolio. The Trump International Hotel and Tower Chicago stands as a completed project, opened to the public in early 2009. There is the Trump Towers Sunny Isles Beach in Florida, which is an oceanfront condominium development consisting of three 271-unit towers. Over in West Java, Indonesia, the Trump International Hotel & Tower Lido Lake is part of a grand 700-hectare development that includes a luxury resort and an 18-hole golf course. The Trump Tower Manila in Makati City, Philippines, represents another international venture (with its completion date yet to be announced).
We have also Trump Bay Street in Jersey City, New Jersey, is a 447-unit rental apartment building developed in partnership with Kushner Properties and The KABR Group. In India, Trump Towers Pune is a luxury residential project developed in association with Panchshil Realty. Then in the Pacific, there is Trump International Hotel and Tower Waikiki Beach Walk in Honolulu, Hawaii, offering 462 hotel-condominium units.
The Trump Organization owns or manages at least seventeen golf courses across the United States, Scotland, Ireland, and the United Arab Emirates. In the United States alone, there are twelve Trump National Golf Clubs located in various states including California, Florida, New Jersey, New York, North Carolina, Pennsylvania, and the Washington D.C. area.
Internationally, the Trump International Golf Club in Dubai is managed by the Trump Organization, while the Trump World Golf Club Dubai is under construction with its opening currently delayed. In Scotland, Trump owns the Trump Turnberry and the Trump International Golf Links. There is the Trump International Golf Links and Hotel in Ireland. Lastly, the Trump National Doral Miami is a large resort that Trump renovated and is considered to be the most prestigious of his golf holdings.
Trump has some level of ownership or investment in several iconic properties worldwide, including Trump Tower in Midtown Manhattan, a 58-story mixed-use tower, serves as the headquarters of the Trump Organization and was Donald Trump’s primary residence before his presidency. Trump World Tower, also in Midtown Manhattan. Trump has a 30% stake in the AXA Financial Center in Manhattan and 555 California Street in San Francisco, valued at over $850 million. The Trump Building at 40 Wall Street, acquired and renovated by Trump.
The Trump International Hotel and Tower Chicago has a total value of $1.2 billion, with Trump’s stake at $112 million. In Las Vegas, Trump co-developed the Trump International Hotel, with an estimated stake of $162 million. The Trump International Hotel and Tower New York was a project managed by Trump for a fee from GE, with his stake valued at $12 million.
Trump Park Avenue is another notable asset, with Trump owning multiple apartments for high rental rates. He also has a leasehold interest in the retail building at 6 East 57th Street, valued at $470 million. Then there is the much discussed Mar-a-Lago in Florida, a resort and historic estate, and Trump’s Seven Springs estate in New York on Long Island.
I could go on, but you get the picture. He owns a lot of stuff that is valuable.
What might not be apparent here, after this incredible recitation of businesses, is that every single one of these assets will likely be sold away from Trump’s control as part of the dissolution of his business empire. If any of these assets or businesses are controlled as part of a company that is licensed in NY state, they are already under an order to be dissolved.
The Impact is Unknowable at Scale
Due to all of Trump’s legal troubles and his continued aggressive public persona, these assets could be sold at a loss because of their tarnished reputation. The anticipated liquidation of his assets at reduced prices and subsequent credit issues could trigger a cascade of financial repercussions, marking a self-inflicted end to Trump’s control over his business dealings and potentially leading to widespread bankruptcies connected to his properties.
This situation is cataclysmic in the history of politics and business.
In the epilogue of this unfolding saga, the once towering empire of Donald Trump faces a reckoning that could reverberate globally. The potential imprisonment of Trump looms like a specter over the narrative, a prospect that could ignite a maelstrom among his insane MAGA hordes of 60 million supporters. The shockwaves of such an event are unpredictable, but the certainty of their impact is clear: there will be violent repercussions.
Internationally, businesses that once bore the Trump name will scramble to dissociate, rebrand, or even capitalize on the infamy as the consequences of this dissolution transcend borders. Trump’s ventures, which stood as symbols of American enterprise, will be gone forever.
The U.S. political landscape will undergo seismic shifts. The Republican Party, long grappling with its identity in the era of Trump, will find itself at a crossroads and will be forced to redefine its values and its vision for the future. (It’s worth mentioning that the Democratic Party has an opportunity to present a unifying vision to a fractured electorate while resisting the temptation to view Trump’s downfall as a singular victory rather than a complete U-turn of broader systemic issues that can be addressed.)
As the final chapter of Donald Trump’s fall plays out over these court cases, we will likely be talking about it for generations as a cautionary tale of ambition, power, and the interplay between business and politics.
The true measure of this unimaginable collapse is its cultural significance, which is found not just in the legal ledgers or the footnotes of this year’s political campaigns but in the daily lived experiences of the American people and the recalibration of a nation’s path forward.
Update:
Shortly after this post went online, I discovered Trump has been streaming out dozens of ‘truths’ on his Truth Social platform. This one says a lot. Trump knows the reality is far from what he writes. These posts are designed to deceive his followers and encourage them to act. He expects them to act violently. Most of this is total nonsense outside of the warped view of Don the Con. Nobody’s financial value is greater than their financial situation. He talks about the ‘disclaimer’ which is meaningless in his situation. He wants to portray himself as the victim. The banks, of course, were repaid, but the point is that the profits were made with stolen money, not to mention the interest payments the banks lost out on due to the fraudulent valuations he created. The sad thing is that 60 million people eat this up, believe he’s a victim, and want to fight for him. That is the reckoning that is coming.
