High-Profile Businesses Severing all Ties with the Trump Organization

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  • 03/02/2023

Business Insider has compiled a list of businesses that are cutting ties with not only President Trump but the entire Trump organization.  After the riots in the U.S. Capitol on January 6th, followed by Trump’s second impeachment by the House of Representatives on Wednesday, prominent business entities are fleeing the brand as fast as they can.

High-profile businesses and entities that have publicly announced severing financial connections to all things Trump are as follows: New York City; Cushman & Wakefield; Girl Scouts; Professional Bank; Deutsche Bank; Signature Bank and the PGA.

On Wednesday, New York City’s Democrat Mayor Bill de Blasio said the city “will no longer have anything to do with the Trump Organization.” According to Insider’s Grace Dean, the city had contracts with the Trump Organization to run two ice-skating rinks and a carousel in Central Park as well as a golf course in the Bronx. According to the Washington Post, these contracts reigned in $17 million in annual revenue for the Trump Organization.

Board members of the PGA voted to pull its 2022 championship from the Trump golf club in Bedminster, New Jersey. In a statement to The Washington Post, the Trump Organization said it was “a breach of a binding contract and they have no right to terminate the agreement.”

Bloomberg reported earlier this week that both Deutsche and Signature Banks released a statement saying, “We believe the appropriate action would be the resignation of the president of the United States.” Bloomberg reported Trump owed Deutsche Bank over $300 million and that Signature will close two of the President’s personal accounts with roughly $5.3 million in them.

Trump borrowed $11 million from Professional Bank in 2018 to buy a home for his sister in Florida. “Professional Bank has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship effective immediately,” the bank said in a statement. Insider’s Kate Duffy reported Trump had a money-market account with the bank worth as much as $25 million.

The Girl Scouts’ New York chapter is now trying to get out of a 15-year lease in the Trump Building located at 40 Wall Street. Real-estate firm “Cushman & Wakefield has made the decision to no longer do business with The Trump Organization,” said a spokesman in a statement to Insider.

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