INQUISITR.COM / News & Politics

Donald Trump Quitting $4.5 Billion Business Empire

By Viraj Mahajan
Published on: 01:37 PST, Nov 30, 2016

Donald Trump announced in a series of tweets that to “Make America Great Again,” he is going to walk away from his billion-dollar empire.

Earlier today, the President-elect took to Twitter to announce that he will be “leaving” all of his business interests in order to avoid future conflict of interest once he becomes the new President of the United States of America.

“I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN!” the President-elect wrote.

Trump further added that as of this moment, all the legal proceedings are underway that will take him out of the business operations.

“While I am not mandated to do this under the law, I feel it is visually important, as president, to in no way have a conflict of interest with my various businesses. The presidency is a far more important task!”

Apart from this, he earlier told NYT that his business is a “hotter brand that it was before.”

“In theory, I could run my business perfectly, and then run the country perfectly. And there’s never been a case like this where somebody’s had, like, if you look at other people of wealth, they didn’t have this kind of asset and this kind of wealth, frankly. It’s just a different thing,” he added.

Prior to this major announcement, he was highly criticized by many ethics counselors and constitutional lawyers for refusing his interest in all of his business empire. Many even believed that, once he takes the oath of the oval office, he is going to make a new acquisition – merging his business with America’s economic policies.

“It is going to undermine the legitimacy of the US around the world. Soft power has been about being able to project values. That already took a hit. It really comes to an end with this election,” said Ian Bremmer, a political scientist and president of the Eurasia Group.

Meanwhile, different constitutional lawyers have already warned that Trump’s presidency is already in danger and is going to meet the same fate as of Nixon’s.

[Image by Dimitrios Kambouris/Getty Images for Time]

This won’t be for the first time when Trump has talked about walking away from his business for the sake of his country and the citizens. In his earlier interview with New York Times, he insisted that he no longer cared about any of his business interests.

“My company is so unimportant to me relative to what I’m doing, ’cause I don’t need money, I don’t need anything,” he said. “The only thing that matters to me is running our country.”

According to Forbes, Donald Trump’s total worth is around $4.5 billion and if one breaks down his wealth by his assets then, he has a Trump Tower in New York City that values around $371 million, Niketown in New York City that values around $390 million and so on. So, if he will walking away from his business “in total,” as he addressed in his series of tweets, then it would seriously be a very strong move from the future President of the United States of America.

The Trump Organization, which was earlier called Elizabeth Trump & Son, has been controlled by his family since the early 1920s. The President-elect took control of this organization back in the 1970s and his children Ivanka, Eric, and Donald Jr. are already holding some senior positions in the same. According to his recent tweets, he is planning to hand over control to them.

What are your views on Donald Trump leaving his entire business empire for America? Sound off your views in the comments below.

[Featured Image by Gustavo Caballero/Getty Images]

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