Allen Weisselberg, Trump Organization executive has resigned from a trust set up to control all of the company’s assets — clearly giving up his place at the top of the company’s formal hierarchy — according to government filings obtained by The Washington Post.
In a document filed with regulators in New Jersey, the Trump Organization said that Weisselberg was no longer a trustee of the Donald J. Trump Revocable Trust. The trust took in all his companies and investments when Trump took office in 2017. In effect, Trump’s lawyers said, the trust owned the Trump Organization.
Until this month, the trust had two trustees: Allen Weisselberg, Trump’s longtime chief financial officer, and Donald Trump Jr. Eric Trump, the former president’s adult son, who was the chairman of the trust’s advisory board.
But last week, the company told New Jersey there was now just one trustee.
But his resignation from the trust is the most significant sign yet that Weisselberg is giving up his formal power at a company where he has worked since the 1970s. According to the paper, at least he has left the Trump Organization — now struggling with political backlash, the covid-19 pandemic, and the indictments of two Trump subsidiaries alongside Weisselberg
“Effective immediately, I, Allen Weisselberg, resign from each and every office and position that I hold” in the subsidiaries, in a letter dated June 25, Weisselberg wrote. The letter was also delivered to New Jersey authorities, who released it to The Washington Post.
What followed was a two-page list. The list received by The Post was redacted to a large extent so that only a few company names were visible. However, according to other corporate records in the United States and Scotland, The Post has noticed at least 59 Trump entities where Weisselberg has recently resigned from his positions.