He's built some developments---but not in a very long time, at least 20 years, I'd guess. I don't think he's even bought anything significant in ages. Western banks with the exception of Deutche Bank stopped doing loan deals with his company years ago--and according to the article linked here, Deutche Bank is ending its relationship with him. His game over the last 20 years has been branding deals--which I would describe as conning others--especially foreigners-- into building golf courses/hotels/condos--and then putting his name on the development. So he takes none of the risk and gets a cut of the sales action. But as this late 2021 article notes, the gangster's politics have damaged his business. I would not be too bullish on the prospects for the Trump Co. going forward. The name is toxic.
Excerpt: "Experts say the prospect of any new Trump-branded development faces long odds. One hotel industry executive said hotel developers – worried about cutting themselves off from the millions of customers turned off by Trump – will likely think twice before signing any branding deals to put the Trump name on their properties."
Here's a Feb. 2023 Bloomberg headline:
Trump’s 40 Wall St. Put on Lender Watch as Vacancies, Costs Rise
The lower Manhattan skyscraper — Trump’s most valuable — has a mortgage balance of $126.5 million.
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By
John Gittelsohn
February 10, 2023 at 3:34 PM EST