Trump Organization unveils ethics plan to distance operations from President-elect Donald Trump – Trump Media & Technology (NASDAQ:DJT)

this Trump Organization An ethics plan was announced Friday in which the president-elect will Donald Trump Stay away from the day-to-day operations of the company.

what happened: The Trump Organization revealed that Trump will not participate in the daily management of the company after taking office. The company has also pledged not to enter into new contracts with foreign governments while Trump is president, The Wall Street Journal reported on Friday.

The plan states that the Trump Organization will continue to be free to pursue further foreign business transactions with private companies. lawyer William Burke Will assist the company in developing internal ethics policies to prevent any possible conflicts of interest.

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Trump’s investments will be managed independently by an outside agency, and the president-elect will have limited access to the company’s financial information. The company also plans to donate profits from identified foreign government officials at its hotels and other businesses to the U.S. Treasury Department.

This marks a significant shift from the approach taken when Trump first took office in 2017.

Eric Trump, “Throughout my father’s presidency, the Trump Organization was committed to not only meeting but going far beyond its legal and ethical obligations,” said the executive vice president of the Trump Organization.

Why it’s important: The Trump Organization has decided to distance Trump from day-to-day business activities and halt new contracts with foreign governments amid growing scrutiny of its international operations. The move comes as the company continues to expand its presence in regions where the Trump brand is deeply entrenched, including Asia and the Middle East.

Since his first term as president, Trump’s business dealings have sparked controversy amid accusations that they violate the Constitution’s emoluments clause. After Trump’s 2020 election defeat, the Supreme Court dismissed cases related to the issue. The Trump Organization recently sold a long-term lease on the Trump International Hotel in Washington, D.C., for $375 million, and reports indicate the company is in talks to reacquire the property.

Trump criticized for his son-in-law Jared Kushner His private equity firm Affinity Partners received a $2 billion investment from a Saudi fund backed by the crown prince mohammed bin salman during his first term.

at the same time, Trump Media Technology Group Inc. DJT The stock has gained 106% in the past year, a rise that appears to coincide with President-elect Trump’s expected return to the White House. DJT stock is trading at $35.31 and is trading above the 5-day, 20-day, and 50-day exponential moving averages, indicating a bullish trend. However, the outlook for key indicators is mixed.

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