OAN Staff Blake Wolf
3:18 PM – Friday, January 10, 2025
The Trump Organization officially announced on Friday that its patriarch, President-elect Donald Trump, will be fully hands off in regards to the management of the family’s businesses during his second term in the White House.
The Trump Organization will also reportedly donate “all profits it receives from foreign government patronage that the Company is able to identify at its hotels and similar businesses,” and they won’t enter into any new contracts with foreign governments.
The announcement of the new ethics guidelines are set to be put in place as soon as Trump’s second term commences, in order to avoid any accusations of potential conflicts of interest.
“The Trump Organization is dedicated to not just meeting but vastly exceeding its legal and ethical obligations during my father’s Presidency,” stated Eric Trump, the incoming president’s second oldest son and executive vice president of The Trump Organization.
“As a reflection of this commitment, just like during my father’s first term in office, we have not only implemented a series of robust ethical standards, but also appointed one of the most respected attorneys in the country to guide our company while my father serves to make America great again,” he continued.
Along with the new initiatives, the Trump Organization has also appointed attorney William Burck to serve as the company’s outside ethics advisor. He will be responsible for reviewing any acquisitions, major leases, debt and refinancing, along with state and local government transactions that the conglomerate may pursue.
Trump also decided that his organization’s assets will be placed in a trust managed by his children, rather than a blind trust, which is similar to how the Trump Organization was arranged during his first term in office.
The Democrats previously criticized Trump for not placing his assets into a blind trust during his first term, claiming that he violated the Emoluments Clause of the Constitution, which bars elected officials from receiving anything of monetary value from foreign governments.
The incoming 47th president will also only have “limited access” to any financial information regarding his family business while serving as the president.
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