Donald Trump is one of the most famous businessmen on the face of the planet. But even the Trump dynasty isn’t immune to the challenges that all family businesses face. According to an article on the Wall Street Journal, Trump, whose daughter and two sons work alongside him at the Trump Organization, appears to be grooming his daughter, Ivanka Trump, for an inevitable takeover of the business.
At a recent unveiling of a new project attended by all three children, Ivanka spoke while her two brothers remained silent. It’s scenes like these that have many in the real-estate industry thinking that the heir apparent in the Trump dynasty is Ivanka and not her brothers Donald Trump Jr. or Eric Trump. In the past few years, Ivanka has taken more of a lead role than her brothers in many of their father’s most high-profile deals.
Although Trump has said in interviews that he wants the empire to be run by the three of his children, it is worth pointing out that no clear-cut succession plan appears to have been finalized. ReGENERATION Partners understands that passing a family business to the next generation is a process fraught with challenges. Family business leaders face the difficult decisions of when and how to pass on the reins with the least harm to self, business and family.
The uncertain results of a business transition can drive emotions and stress levels to new heights. ReGENERATION Partners specializes in Ownership, Management and Leadership Succession to make this process much more manageable and the outcome more desirable. To find out more, email us today!
Photo by Gage Skidmore