Trump yet found a bank for his billionth fortune

manager24.pl 1 month ago

Eric Trump (41) He late became a client Citigroup. According to reports, Bloomberg , boy of the president of the United States Donald Trump formed a trust fund in this large bank to manage part of his father's assets. The U.S. president is reportedly a beneficiary of the fund – however, the exact amount the Trump household contributed to Citigroup is not known.

Earlier, respective large banks seemingly refused to cooperate with the president of the United States. For example, in August Trump powerfully criticized the 2 largest American banks, JPMorgan Chase And the Bank of America, for the alleged refusal to accept his money, though he did not supply any evidence. Trump should have turned to respective smaller banks alternatively than to large ones, said the President. According to Bloomberg, both JPMorgan pursuit and the Bank of America made it clear that they would not refuse to cooperate for ideological reasons.

Donald Trump passed on the regular management of his assets to his children at the beginning of his second word presidential January. Apparently, the connection to Citigroup was established last November erstwhile Citi's president, Jane Fraser (58), congratulated Trump on his triumph in the election. Eric Trump then took over the negotiations on the trust fund.

The Fund is simply a delicate subject for the bank, so only elected directors and key-ranking persons can have access to information about it. For example Andy Sieg , manager of Asset Management at Citigroup who interviewed Erik, or Kent Lucken , Citigroup banker, who is reportedly liable for contacts between the bank and the Trump family.

According to Forbes magazine, the U.S. President's net assets are presently $7.2 billion (equivalent to just under EUR 6.1 billion), which puts him in 201st place on the list of 400 richest Americans. In the past year He has enlarged his property by nearly $3 billion.
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