U.S. President-elect Donald Trump is introduced to speak to supporters at the Giant Center, December 15, 2016 in Hershey, Pennsylvania. (Photo : Getty Images/Mark Wilson)
Donald Trump will soon step into the oval office to officially begin his term as the president of the United States. This has left people wondering what would become of his multi-million dollar businesses that played a big part of placing him into the presidency in the first place. He has confirmed that he will be passing on his empire to his sons.
Through a trust fund, the president-elect's sons Don Trump and Eric Trump as well as one of his top executives will be given full control over his enterprises including his array of hotels and real estate, ABC News reported. This decision was apparently reached in order to avoid any form of conflict of interest.
Donald vowed that he would not let his businesses interfere with his duty as president during his first press conference since being elected. He had also made a specific vow to end foreign investment and focus his efforts on the U.S. economy.
Don and Eric will have the authority to manage the Trump Organization along with their father's companies' chief financial officer Allen Weisselberg. They will "make decisions for the duration of the presidency without any involvement whatsoever by President-elect Trump," BBC quoted Donald's lawyer Sherri Dillon as saying.
An ethics adviser will be appointed to Donald. This is because the Office of Government Ethics has deemed Trump not up to standards in this department, according to Dillon.
However, it has recently been revealed that his team deems the expansion of his golf course located in Scotland as not in conflict with these promises. This is because they argue that Donald only vowed to not develop new properties in foreign land and does not mean he cannot renovate or add to his existing properties located outside the U.S.
The plan for the Trump International Golf Course Scotland is to extend its hotel in addition to adding a second set of 18 holes. The expansion will also include a timeshare complex as well as a private housing estate.
This renovation would add much worth to this property, which is highly valued by the U.S. president-elect. Donald is set to invest up to $1 billion in its development.
Watch Donald's first press conference as U.S. president-elect in the video below:
