WASHINGTON — The Trump Organization consists of over 500 different business entities around the world that constitute most of Donald Trump’s wealth. Recent reports, though, suggest that Trump Organization properties have been suffering since Trump was elected president.
Trump turned over control over his real estate holdings to a trust controlled by his two sons, Donald Jr. and Eric, in an effort to comply with ethics regulations once he was elected. This hasn’t stopped the Trump Organization properties from being a source of controversy since Trump was elected, though.
Yesterday, Bloomberg noted that Trump Tower had been wracked by financial woes over the last two years. The occupancy rate in the building had fallen from 99% to 83%, and the majority of condos in the building had sold at a loss.
“No one wants in that building,” Michael Sklar, a former Trump Tower condo owner, told Bloomberg.