The 25 Companies Contributing 20% of Trump’s Business Revenue

President Donald Trump owns a number of businesses ranging from luxury hotels to golf courses, but his biggest moneymakers are his commercial real estate holdings. According to Forbes, 25 of his highest-paying building tenants account for an estimated $115 million in rent every year — roughly 20% of all revenue flowing into his business empire.

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Trump’s two most profitable properties are the buildings at 1290 Avenue of the Americas in New York City and 555 California Street in San Francisco. He holds a 30% stake in each — which may seem small but provides Trump with millions every year. Tenants at those buildings include Bank of America and Goldman Sachs, both of which are among his highest-paying renters. See which other companies are contributing the most to Trump’s fortune.

Last updated: Dec. 9, 2020

Hadassah

• Estimated annual rent: $1.6 million

Hadassah, a Jewish women’s organization, is one of Trump’s most lucrative renters — and the president seems to want to keep its business. The organization advocated for a bill to promote education about the Holocaust and Trump signed it into law in May, Forbes reported.

Thornton Tomasetti

• Estimated annual rent: $1.6 million

Thornton Tomasetti, a design and research firm, might soon be off this list. Forbes reported that the company signed a new lease in a nearby building earlier this year.

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Goldman Sachs

• Estimated annual rent: $1.7 million

The investment firm is one of Trump’s tenants at 555 California Street. As Forbes noted, several of Trump’s top appointees have previously worked at Goldman Sachs, including Treasury Secretary Steven Mnuchin and former chief strategist Steve Bannon.

Fenwick & West

• Estimated annual rent: $1.9 million

The law firm is another one of Trump’s high-paying tenants at 555 California Street in San Francisco.

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New York Sports Club

• Estimated annual rent: $2 million

The gym chain rents space at Trump Park Avenue.

Country-Wide Insurance Company

• Estimated annual revenue: $2.1 million

The insurance company rents 82,000 square feet at Trump’s skyscraper at 40 Wall Street in New York’s financial district. Its lease is set to end in August 2021, Forbes reported.

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Columbia University

• Estimated annual rent: $2.1 million

Columbia University began renting space at 1290 Avenue of the Americas before Trump announced his presidential bid, Forbes reported.

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Enterprise Parking Systems

• Estimated annual rent: $2.3 million

Trump owns about 350 parking spaces around New York City and he leases most of them to garage operator Enterprise Parking Systems, Forbes reported. The company leases spots at Trump Plaza, Trump International Hotel & Tower, Trump World Tower and Trump Parc, New York.

State Street Bank & Trust Company

• Estimated annual rent: $2.4 million

The financial institution rents space at 1290 Avenue of the Americas. State Street has found itself in hot water in recent years, facing investigations by the Department of Justice, the Department of Labor and the Securities and Exchange Commission, Forbes reported.

Linklaters

• Estimated annual rent: $2.4 million

The British law firm is a newer contributor to Trump’s fortune. The company began renting at 1290 Avenue of the Americas earlier this year, Forbes reported.

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Hachette Book Group

• Estimated annual rent: $2.5 million

The book publisher rents space on two separate floors at 1290 Avenue of the Americas.

Bryan Cave Leighton Paisner

• Estimated annual rent: $2.5 million

The law firm is another one of Trump’s tenants at 1290 Avenue of the Americas.

Green Ivy Schools

• Estimated annual rent: $2.6 million

Green Ivy Schools rents space at Trump’s financial district skyscraper in New York.

UBS

• Estimated annual rent: $2.8 million

Ironically, the U.S. government — under Trump — sued UBS in 2018 for “(defrauding) investors throughout the United States and the world in connection with its sale of residential mortgage-backed securities from 2006 through 2007,” according to the yet-to-be-resolved lawsuit.

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Kirkland & Ellis

• Estimated annual rent: $2.9 million

William Barr worked at the law firm Kirkland & Ellis before Trump made him attorney general, Forbes reported.

Dodge & Cox

• Estimated annual rent: $2.9 million

The investment fund rents space at Trump’s San Francisco building.

Morgan Stanley

• Estimated annual income: $3.1 million

Morgan Stanley is another one of Trump’s San Francisco renters. The company has spent $1.57 million on lobbying expenditures in 2020, according to Open Secrets.

Venable

• Estimated annual rent: $3.7 million

Renting space at Trump’s Avenue of the Americas building isn’t Venable’s only connection to the White House. The law firm formerly employed Doug Emhoff, husband of Vice President-elect Kamala Harris and soon-to-be “second gentleman.”

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Walgreens Boots Alliance

• Estimated annual rent: $3.8 million

Walgreens successfully completed a $4.4 million deal with Rite Aid during Trump’s turn in the White House. Maureen Ohlhausen, an official involved in the process, said Walgreen’s lease in a Trump property did not affect her analysis of the deal, Forbes reported.

Cushman & Wakefield

• Estimated annual rent: $4.8 million

Real estate firm Cushman & Wakefield rents from Trump — but also counts him as a client. The president used the company to prepare an appraisal for his New York mansion, Forbes reported.

Bank of America

• Estimated annual rent: $6.5 million

Bank of America is the highest-paying tenant in Trump’s San Francisco office building.

Neuberger Berman

• Estimated annual rent: $9.6 million

Financial firm Neuberger Berman rents space at Trump’s Avenue of the Americas building.

Nike

• Estimated annual rent: $13 million

Trump signed one of his most lucrative leases ever with Nike, which rented space at his property on East 57th Street. However, the athletic apparel company left the building after Trump took office, Forbes reported.

Equitable Holdings

• Estimated annual rent: $13 million

Financial firm Equitable Holdings leases about one-fifth of the 2.1 million square feet of available space at 1290 Avenue of the Americas, Forbes reported.

Gucci

• Estimated annual rent: $22 million

Gucci’s 49,000 square-foot flagship store is located in Trump Tower. With an estimated annual lease of $22 million, the luxury fashion brand is Trump’s most lucrative renter, Forbes reported.

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About the Author

Gabrielle Olya

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer-reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has been featured on “Good Morning America” as a celebrity news expert. 

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