President-elect Donald Trump closed a number of his companies post-election, including four that may be linked to Saudi Arabia, according to corporate registrations in Delaware.
The decision came days before announcing changes about his business in an effort to avoid any conflict of interest.
Trump should officially handle the white house next month.
The Trump Organization’s general counsel, Aalan Garten, described shutting down the four companies as routine “housecleaning,” and stressed that there was no existing Trump business venture in Saudi Arabia.
The four Saudi-linked companies were among at least nine companies that Trump filed paperwork to dissolve or cancel since the election.
However, Garten said he did not know the reason for the establishment of these companies or whether they have already been involved in any joint venture before.
He added that closing economic entities is normal.
Trump as a president
Until now, it is unclear what policies Trump holds for the Gulf and the Middle East in general.
But he pleaded during his election campaign that countries like Saudi Arabia should pay the United States the price of “their protection”.
He said that Western countries must pay Washington specially that America is going through an economic crisis to protect them.
Trump as a businessman
Trump’s holdings include more than 500 private companies, some of them he creates for future deals.
The complex and changing structure makes it difficult for Americans to track his financial interest and partners.
Trump has revealed some names and details about his companies in public filings but a complete picture of Trump’s finances is unclear as he broke with decades of presidential precedent by not releasing his tax returns during the campaign.
The billionaire president operates branded hotels and resorts in many countries around the world, though he and his executives have talked about expanding more globally. Last year, Ivanka Trump singled out the Middle East and Saudi Arabia as potential locations.
The four companies were created during the campaign which provokes the question; why create them only to shut them down months later?
There’s nothing can prevent Trump from creating new business in Saudi Arabia or elsewhere or can prevent his children from re-creating the same closed companies in a different name.
These recent dissolutions represent a fraction of Trump’s global network of companies which raised conflict of interest concerns about whether Trump can balance being an international businessman while conducting the nation’s business abroad as president.
Trump said he would announce next week how he plans to separate himself from his business interest once he’s president.
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