Thursday, July 22, 2021
Allen Weisselberg resigned from the top of the Trump Organization. So who’s running the company now?
Weisselberg was one of two trustees at the trust that owns and controls Trump's company. Weisselberg resigned from Trump's company as well as "dozens of others at Trump subsidiaries" after he was charged with running a tax-fraud scheme inside the company.
Although Weisselberg gave up his post as trustee, he still works at the company. The company is currently facing a slew of financial and legal problems.
Due to Weisselberg's resignation and the other problems the Company is facing, there are some things that may be changing. As of now, Donald Trump Jr. is the most powerful officer of the Company.
The Trump Organization is controlled by the Donald J. Trump Revocable Trust—"a legal entity to which Trump transferred his hundreds of companies when he took office in 2017."
Trump's business was originally run by a trust so that he could "relinquish management" in order to avoid conflicts of interest as president. Although it is not clear why, Trump never changed the arrangement after leaving the White House.
As it turns out, Trump never really gave up his power considering he used a revocable trust to hold his business assets.
It will be interesting to see how the power shifts due to the problems the Company has endured and continues to face.
See David A. Fahrenthold, Josh Dawsey, & Jonathan O'Connell, Allen Weisselberg resigned from the top of the Trump Organization. So who’s running the company now?, Washington Post, July 21, 2021.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.