Investors Think Twice About Deals With Trumps and Kushners

Four weeks after President Trump took office, his sons held a red-carpet event for their Trump International Golf Club in Dubai. Guests munched on quail eggs, tuna tartare, and spring rolls as a string orchestra played Vivaldi. Meanwhile, the Trump International Hotel in Washington was doing brisk business with foreign diplomats, and Trump’s Mar-a-Lago Club in Florida doubled its membership fee. “The stars have all aligned,” Eric Trump told the New York Times, ignoring concerns over conflicts of interest. “I think our brand is the hottest it has ever been.”

But in the four months since the deal-seeking Trumps took over the White House, another narrative has become evident. Rather than jumping at the chance to do deals with the Trumps, many officials and private businesses are avoiding partnering with them precisely because of the scrutiny produced by their position. “Everyone was so worried about influence,” says David Scott Sloan, co-chair of Holland & Knight LLP’s national private wealth practice. “Now they’re so worried about the appearance of influence that they’re not doing business.”