- After the insurrection at the Capitol, some entities severed ties with Trump and his business.
- Several prominent business leaders spoke out against the riot.
- Deutsche Bank, Aon, Cushman & Wakefield, and even New York City moved to cut ties.
- Visit Business Insider’s homepage for more stories.
In the weeks since early January’s violent insurrection at the Capitol by a pro-Trump mob, some businesses are cutting ties with the Trump Organization.
In the wake of the riot, politicians – including Republican House Minority Leader Kevin McCarthy – spoke out about the responsibility that the president bears for inciting violence. Prominent business leaders, including Apple CEO Tim Cook and Google CEO Sundar Pichai, also spoke out against the siege. Business Roundtable released a statement calling on the president to “put an end to the chaos.”
Platforms including Twitter and Facebook moved to ban the president’s accounts. Twitter CEO Jack Dorsey broke his silence on the ban last night, saying it set a “dangerous precedent.” And, as Deadline reports, the outgoing president was soon facing expulsion from the performing arts union SAG-AFTRA (although he’d still receive his pension of over $90,000); he resigned instead of accept expulsion.
In a historic vote, Trump became the first president to be impeached by congress twice. If he’s convicted by the senate (a move that requires a two-thirds majority), it can vote on whether to bar him from holding office again.
But some actions have gone beyond statements: Businesses and other entities are severing their financial connections to Trump and the Trump Organization.
In the wake of the insurrection and impeachment, some groups formerly affiliated with the Trump Organization are opting to sever ties. The Trump Organization did not immediately respond to Insider’s request for comment.
Here are all the businesses and entities that have publicly split from the Trump Organization.
“I write to you today regarding the so-called Disciplinary Committee hearing aimed at revoking my union membership,” Trump wrote.”Who cares!”
He went on to say he was “not familiar with your work” but that he’s proud of his own performances in movies such as “Home Alone 2” and “Zoolander” and television shows including “Saturday Night Live” and “The Apprentice.”
He closed his letter with: “I no longer wish to be associated with your union. As such, this letter is to inform you of my immediate resignation from SAG-AFTRA. You have done nothing for me.”
In response, SAG-AFTRA released a two-word statement: “Thank you.”
New York City is ending its contracts with the Trump Organization.
New York Mayor Bill de Blasio said on Wednesday that New York City “will no longer have anything to do with the Trump Organization.”
Insider’s Grace Dean reported that 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.
The Washington Post reported those contracts brought in $17 million in annual revenue for the Trump Organization.
The PGA pulled its 2022 championship from Trump’s Bedminster, New Jersey, golf club.
Insider’s Julie Gerstein reported the decision came after last week’s insurrection; board members voted to pull the plug.
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.”
Trump was more upset about no longer hosting the tournament than getting impeached for a second time, The New York Times’ Maggie Haberman reported.
Deutsche Bank and Signature Bank are reportedly ending their banking services for the Trump Organization.
Bloomberg reported on Monday that both banks were severing ties. In a statement to Bloomberg, Signature said, “We believe the appropriate action would be the resignation of the president of the United States.”
According to the Bloomberg report, Trump owes Deutsche Bank over $300 million, and Signature Bank will close two personal accounts with about $5.3 million in them.
Professional Bank won’t provide services for Trump or the Trump Organization.
“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 to Bloomberg on Tuesday.
Bloomberg reported Trump borrowed $11 million from the bank in May 2018 to buy a home for his sister Maryanne Trump Barry next to his Mar-a-Lago club in Florida.
Insider’s Kate Duffy reported Trump had a money-market account with the bank worth as much as $25 million.
The Girl Scouts want to end their lease in a Trump building.
The Girl Scouts’ New York chapter told Insider’s Daniel Geiger that the organization was trying to get out of a 15-year lease at 40 Wall St., which is known as the Trump Building.
The real-estate giant Cushman & Wakefield will no longer do business with the Trump Organization.
The firm was an agent for Trump Tower and 40 Wall St.
“Cushman & Wakefield has made the decision to no longer do business with The Trump Organization,” a spokesman said in a statement to Insider.
Curbed reported last week that the real-estate brokerage JLL was no longer involved in marketing the Trump hotel in Washington, though it’s not clear when the brokerage backed out.
Shopify closed the Trump Organization’s store.
Vox reported on January 7 that Shopify closed both the Trump Organization’s store and the e-commerce section of Trump’s election website.
The insurance brokerage Aon has ended its relationship with the Trump Organization.
Bloomberg first reported on Wednesday the insurer had cut ties with the Trump Organization.
Aon was subpoenaed in 2019 by New York’s financial regulator over Michael Cohen’s allegation that Trump had inflated the value of his assets.