Donald Trump’s children are preparing to take over their father’s empire
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Donald Trump’s children are preparing to take over their father’s empire

In an interview with CNN this weekend, Trump’s lawyer – Michael Cohen said the billionaire is no longer interested in running the billion-dollar company – Trump Organization, or wanting to take advantage of his presidential powers to increase his assets.

Instead, ownership of the company will be vested in a blind trust.

`We will do this legally. The company will be placed in a trust. His three children – Don, Ivanka, Eric are very smart. They are really capable. He is very quiet

Cohen also admitted that some people will be dissatisfied with this arrangement.

Donald Trump’s children will take over his company.

However, lawyers do not think so.

`Transferring company management rights to his children only gives him more free time, but does nothing to resolve conflicts of interest,` Kenneth Gross – a law expert at Skadden

CNBC quoted an anonymous source as saying that Trump’s three children will each manage a portion of the company.

Many sources said that to avoid criticism that the company is trying to profit from Donald Trump’s power, his family will limit the pace of expansion and reduce signing contracts with international partners that may cause conflicts.

`They will just manage and let the assets grow naturally. But they will not do many new deals anymore,` said a close source.

In a document released during his campaign, Trump said the Trump Organization is made up of more than 500 different companies.

Although there is no specific law prohibiting the President from engaging in business, all recent White House owners have done their best to avoid being considered a conflict of interest.

The impact of Mr. Trump’s election on brand value and company revenue remains a mystery.

However, because Mr. Trump has been elected, this may change.

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