Donald Trump’s latest pledge that he would “ban all Muslims” from entering the United States is being roundly criticized in the US, even by prominent members of his own party. Former vice president Dick Cheney called Trump’s statement “against everything we believe in,” and presidential candidate Jeb Bush called Trump “unhinged.”
The presidential race aside, these statements could potentially fiscally impact the Trump Organization that Donald heads, and which is helping to bankroll his presidential run.
That’s because Trump’s real estate and licensing income relies in part on wealthy Muslims, and Muslim-backed businesses, both located in the US and overseas—and particularly on a willingness to pay handsomely for things with the “Trump” name on them. Here’s a look at some of the more prominent deals and partnerships with Muslim individuals, governments, and companies that have buoyed the Trump brand over the years.
Qatar Airways: The state-owned flag carrier of Qatar, a constitutional monarchy ruled by Emir Sheikh Tamim bin Hamad Al Thani, has had a “corporate campus” in the Trump Tower on 5th Avenue in Manhattan since at least 2008. While details of the Qatar Airways lease were not immediately available, offices for rent in the building start at about $19,000 a month and can go above $100,000 a month. Qatar considers Islam the official religion and Sharia law the principal source of its legislation.
When Qatar launched flights to New York in 2007, Trump and his wife Melanie were guests at a star-studded party at Lincoln center, where they goofed around with Qatar Airways CEO Akbar Al Baker on the red carpet:
Saudi princes: Prince Mutaib bin Abdulaziz Al Saud, a former minister in the Saudi government, and member of the Saudi royal family, reportedly lives in a floor-through Trump Tower apartment. Other former Trump property tenants include Prince Nawaf bin Sultan bin Abdulaziz Al-Saud, a Saudi royal family member who owned a 10,500 sq. foot (975 sq. meter) condo at the Heritage at Trump Place that went on sale this year for $48.5 million.
When Trump’s businesses empire crumbled in the 1990s, the high profile Saudi prince, known for investments from Citigroup to Hyundai, agreed to take majority control of New York’s Plaza hotel, giving Trump “more breathing room with bank creditors,” as The New York Times wrote in 1995. Four years earlier, Alwaleed purchased Trump’s nearly 300 foot yacht for $18 million as his Atlantic City casinos struggled.
Earlier this year Bloomberg assessed Trump’s wealth at $2.9 billion, based mostly on the value of his real estate properties. But the Trump Organization’s profits are more dependent on “the parts of his company that slap his name on other people’s things,” as an in-depth article explained in September.
