Tags: Trump Organization | President Donald Trump | New Yorks largest privately held companies

Trump Organization Plummets 37 Places on NY List of Largest Companies

Trump Organization Plummets 37 Places on NY List of Largest Companies
(AP)

By    |   Sunday, 19 November 2017 07:07 PM

The Trump Organization has fallen 37 spots on the list of New York's largest privately held companies after federal filings showed it actually makes 10 times less than previously reported, Newsweek has reported.

Crain's, a leading New York business publication, said the company has been reporting an inflated revenue since at least 2010 and moved it from the number three spot on the list to number 40.

Crain's relies on companies to self-report, and last year the Trump Organization said it had nearly $9.5 billion in revenues. But public filings by President Donald Trump suggest the company actually earned only between $600 and $700 million in 2016.

"It was obviously very important to Donald to have his company on the top of the list... but the numbers that he presented are just flagrantly untrue," said Crain's senior reporter Aaron Elstein, NPR reported.

After winning the election, Trump said that he had resigned from the Trump Organization and had passed control of it to his sons. However, experts on government ethics dismissed the move as falling far short from putting the company into a blind trust. And, as president, Trump often holds meetings at his company's properties nationwide and continues to promote them, according to Newsweek.

Trump has also fallen sharply on other lists recently, HuffPost reported.

He dramatically declined 92 places to number 248 on Forbes' list of the richest people in America and also fell on Bloomberg's Billionaires index.

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The Trump Organization has fallen 37 spots on the list of New York's largest privately held companies after federal filings showed it actually makes 10 times less than previously reported, Newsweek has reported.Crain's, a leading New York business publication, said the...
Trump Organization, President Donald Trump, New Yorks largest privately held companies
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2017-07-19
Sunday, 19 November 2017 07:07 PM
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