As he watches his supporters turn their back on him and some of his closest allies walk away, Donald Trump’s famous financial empire is coming under sustained attack.
With an estimated net worth of $US2.5 billion ($A3.2 billion), Mr Trump is America’s first billionaire president, raking in a fortune through his real estate empire, which spans golf courses, wineries and several Manhattan hotels.
However, his brand has taken a further hammering this week after the riots in Washington D.C. and a move by the Democrats for a second impeachment.
As a result, major stakeholders in his key operations – including the banks that keep them going – are severing ties with Mr Trump. He also stands to lose $US12 million ($A15.4 million) over 10 years in former presidential benefits alone if he is impeached and removed from office.
Another crucial blow could be manifesting in Mr Trump’s hometown of New York City, where he has major contracts with the city council – running two ice skating rinks at Central Park and the Trump Golf Links at Ferry Point, a city-owned golf course in the Bronx.
Overnight, Democrat NYC Mayor Bill de Blasio said the events of the past week are the final straw and he is now considering cancelling the Trump Organisation’s contracts.
As he watches his supporters turn their back on him and some of his closest allies walk away, Donald Trump’s famous financial empire is coming under sustained attack.
With an estimated net worth of $US2.5 billion ($A3.2 billion), Mr Trump is America’s first billionaire president, raking in a fortune through his real estate empire, which spans golf courses, wineries and several Manhattan hotels.
However, his brand has taken a further hammering this week after the riots in Washington D.C. and a move by the Democrats for a second impeachment.
As a result, major stakeholders in his key operations – including the banks that keep them going – are severing ties with Mr Trump. He also stands to lose $US12 million ($A15.4 million) over 10 years in former presidential benefits alone if he is impeached and removed from office.
Another crucial blow could be manifesting in Mr Trump’s hometown of New York City, where he has major contracts with the city council – running two ice skating rinks at Central Park and the Trump Golf Links at Ferry Point, a city-owned golf course in the Bronx.
Overnight, Democrat NYC Mayor Bill de Blasio said the events of the past week are the final straw and he is now considering cancelling the Trump Organisation’s contracts.
(post is archived)