Brothers Donald Trump Jr. and Eric Trump have shifted away from the business tactics of their father since President Trump took office and separated from his company.
After a failed attempt to launch two new hotel brands, the Trump brothers reeled back plans to expand their father’s real estate development empire and focus on paying down the company’s debt, according to Forbes. The brothers have conducted roughly 100 relatively small transactions and property sales that have netted about $110 million.
The brothers scrapped their latest plans to expand in February.
“If we have to slow down our growth for the time being, we are happy to do it,” Eric Trump said in a statement at the time.
“When politics are over, we will resume doing what we do best, which is building the best and most luxurious properties in the world,” Donald Trump Jr. said.
Donald Trump Jr. and Eric Trump sold off Trump land in the Dominican Republic in January 2018 for $3.2 million, an apparent violation of President Trump’s pledge to not do business in any foreign countries while he remains in office.
The brothers have also sold off numerous other properties, condos, and lots across the United States and used the funds to pay off debt and stock up on cash, apparently waiting for the political passions surrounding the Trump family to cool before stoking the family business.
Other billionaires who President Trump used to do business around and within New York have noticed his absence.
“He’s not really a real estate developer anymore,” David Walentas, a billionaire from Brooklyn, said.
