Trump still holds sway over business empire despite claims
Although Donald Trump has repeatedly declared that he has cut himself off from managing his assets, a document filed in the United Kingdom reveals that the former US president still retains significant influence over the trust fund controlling his business assets – including the prestigious Trump Turnberry golf course, Forbes reports.
A document filed in April in the British companies register – titled "notice of individual person with significant control" – lists Donald John Trump as a person having "significant influence or control" over the trust fund that owns Golf Recreation Scotland Limited, the company managing, among others, the famous Trump Turnberry course.
The document emphasises that Trump has the right to exert influence or actually exercises control over the fund's activities. The same fund – Donald J. Trump Revocable Trust – indirectly controls most of Trump's assets.
Formally cut off, practically decisive
During his presidency, Trump assured that he did not interfere in business affairs, handing management over to his son Don Jr. and financial director Allen Weisselberg.
However, further reports suggested that Trump still receives regular financial reports and remains the sole beneficiary of the trust. Moreover, documents indicate that he can demand payouts from the fund at any time.
Despite public assurances of "separation," Trump regularly visited his properties – transforming Mar-a-Lago into the "Winter White House" and attempting to organise a G7 summit at his golf resort in Miami, it reads.
A Trump Organization spokesman stated that the document is a "simple administrative update" and that the company's structure has not changed. The White House did not comment on the matter, although it previously emphasised that the president's assets are managed by his children.
