Since their father became president, Trump’s sons have been running his business in a decidedly un-Donald-like way—quietly selling assets and paying down debt.
Other deals wouldn’t turn heads if the seller were anyone but the president of the United States. With Trump in the Oval Office, however, things can get strange. Take the roughly $900 million sale of Spring Creek Towers, America’s largest federally subsidized housing complex. Trump owned a 4% stake, a remnant of his father’s outer-borough empire. Secretary of Housing & Urban Development Ben Carson had to give his approval to make the deal happen, according to property records.
For all this selling, the Trumps have done very little reinvesting. Trump Tower got minor updates, a five-story San Francisco office building got a face-lift and the Trumps keep stuffing cash into their money-losing European golf resorts. But they’ve really made only one new purchase, buying an $18.5 million mansion next to Mar-a-Lago—from their aunt, Maryanne Trump Barry.
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