Trump’s Second Trip to Moscow

David Geovanis

Trump visits Moscow for a second time and announces plans to invest $250 million in Russia and to license his name on two luxury residential buildings in Moscow, neither of which are ever constructed.

Trump has dreamed of building in Russia since the 1980s; in his book “The Art of the Deal,” he wrote “about building a large luxury hotel across the street from the Kremlin in partnership with the Soviet government.” In 1996, Trump announced at a news conference that he planned to invest $250 million in Russia and to license his name to two luxury residential buildings. In 2006, Donald Trump Jr. and Ivanka Trump visited Moscow with business associate Felix Sater, during which time they “[connected] with potential partners.” The following year, Trump expressed hopes of building real estate in Moscow, saying “we will be in Moscow at some point.” In 2008, Donald Trump Jr. echoed his father’s earlier comments, saying that “the Trump Organization [wanted] to build luxury housing and hotels in Moscow, St. Petersburg and Sochi.” That same year, Trump Jr. visited Moscow six times in 18 months in search of new deals, although none panned out. Despite his failure to develop in Russia, the Trump Organization depended heavily on Russian money in their other exploits; Trump Jr. once  told reporters at a real estate conference that “Russians [made] up a pretty disproportionate cross-section of a lot of our assets […] we see a lot of money pouring in from Russia.”

CIS Deals
International Deals
Licensing Deals
Russia Trips