President-elect Donald Trump’s youngest son, 18-year-old Barron, appears to be following in his father’s footsteps by incorporating a real estate business.
In 1971, Donald Trump took control of his father’s mid-twenties residential real estate company. Thus began a business empire of homes, luxury hotels, casinos and golf courses in the United States and around the world, making Trump a global name and providing the platform for his political rise.
As Trump prepares to return to the White House on January 20, the business activities of members of his immediate family in hundreds of companies, which include his real estate, hotels and golf clubs, most of which are managed through holding company, the Trump Organization, will draw more scrutiny in part because of issues of potential political influence.
Business records reviewed by Newsweek show Barron Trump incorporated a real estate business in July 2024. That same month, his older brother Eric Trump also opened a previously unreported firm. Barron Trump’s firm was dissolved in November after Trump won the presidential election, but one of his partners said Newsweek there were plans to reopen it.
Newsweek contacted representatives of the Trump family for comment.
AP Photo/Evan Vucci, File
Barron, 18, was instrumental in advising his father on how to reach younger voters, according to media reports. Eric, 41, is key to his father’s business interests, serving alongside his other brother, Donald Trump Jr., 47, as executive vice president of the Trump Organization.
The firm associated with Barron Trump, called Trump, Fulcher & Roxburgh Capital Inc., is a real estate company incorporated on July 15, 2024 and dissolved on November 14, 2024, days after Donald Trump won the presidential election.
One of Barron Trump’s partners, Cameron Roxburgh, who attended the $40,000-a-year Palm Beach school’s Oxbridge Academy with him, said Newsweek the team dissolved the company to avoid media attention during the election, but that it will reopen in the spring.
said Roxburgh Newsweek the firm is a high-end real estate development company that will own properties and golf courses in Utah, Arizona and Idaho. Roxburgh added that Donald Trump had offered his son private advice and approved of the idea. He said Donald Trump had not provided funding for the business, but added that they intend to have the company incorporated as an affiliate of the Trump Organization, although there are no plans for that to happen yet.
The other incorporator, Carter Fulcher, is a partner in a luxury real estate company in Idaho and a cousin of Idaho Republican Congressman Russ Fulcher. Roxburgh said Congressman Fulcher is not involved in the business. Newsweek contacted representatives for Congressman Fulcher and Carter Fulcher for comment.
Mar-a-Lago address
The main business office is listed at Donald Trump’s Mar-a-Lago estate in Palm Beach, Florida, and it was incorporated in the state of Wyoming, which is considered a business-friendly state due to its low taxes and minimal regulations. Barron is now studying at New York University’s Stern School of Business
Three days before Barron incorporated his venture, his brother Eric incorporated ET Talks LLC on July 12, 2024.
There is little public information about the purpose of the ET Talks. Corporate filings show the company is registered at Trump National Golf Club, Jupiter, the property where Eric lives with his wife, Lara Trump, a former Fox News contributor who served as co-chair of the Republican National Committee from March to December 2024. .
File list Lizebeth Kyprislidis, director of project coordination at the Trump Organization as a point of contact for business incorporation correspondence. Newsweek contacted the Trump Organization and Kyprislidis for comment.
While there are no federal laws in the US Constitution that require a president to divest from business interests, the Trump Organization announced Friday that Donald Trump will have no involvement in the management of his real estate company during his term in office. his second term as president. He appointed an outside ethics counsel, attorney William Burck, a longtime Republican, to avoid conflicts of interest.
Richard Painter, who served as former President George W. Bush’s chief ethics lawyer, said Newsweek that the business relationships of the President-elect’s sons could become problematic for Donald Trump if he invests or has any financial interest in them and does not disclose this relationship publicly.
“To stay clean, the President must not take any money from any of these businesses or he must disclose it,” he said.
He added that it was important that Donald Trump “not do anything in his official capacity that tries to promote these businesses or help them.”
“That would be a dereliction of public duty,” he said Newsweek.
In addition to his ET Talks involvement, Eric Trump has also been promoting a cryptocurrency venture, World Liberty Financial, with Donald Trump Jr. in recent months. Public information indicates that most of his other business activities involve affiliates of Donald Trump’s businesses.
Meanwhile, Donald Trump Jr. is engaged in recent corporate activities. in november, Newsweek revealed that his eldest son, Donald Trump Jr. created two new companies for a recreational boat and a hunting camp.
