New York City-based group called The Heritage Foundation is buying up shares of several big names in the private equity industry.
The group, whose members include Trump, and its founder, Steven Mnuchin, donated $3.2 million to Trump’s 2016 presidential campaign.
The purchase is part of a $10 million fund to promote and expand the president’s business empire.
Mnuchin is one of several wealthy and influential investors in Trump’s business.
He is the chairman and CEO of The Carlyle Group, a private equity firm that has made millions in private equity investments.
The group is also the owner of several other hedge funds, including Blackstone Group and J.P. Morgan Chase.
In 2018, The Heritage Fund made a $25 million investment in the Trump Organization.
The next year, the fund made a whopping $100 million investment.
In November 2020, The Trump Organization made a similar $100,000 investment.
That same year, Trump gave $2.7 million to the foundation.
The company has invested in several other companies, including the Trump Hotel in Washington, D.C. The hotel is owned by the Washington Nationals baseball team, which also owns the Washington Capitals.
The Trump Organization has said it is not currently involved in the new Trump Tower in downtown Manhattan, though the developer said in 2016 that he plans to make major investments in the building.