Latest news with #TrumpOrganisation
Herald Sun
2 days ago
- Business
- Herald Sun
Trump launches mobile service while in office with AU$73-a-month plan
Don't miss out on the headlines from Smartphone. Followed categories will be added to My News. Donald Trump's business empire is poised to expand further with the launch of a new mobile phone service while he serves as President of the United States. The Trump Organisation announced this week it would enter the telecommunications market with T1 Mobile, a service that will piggyback on existing networks owned by American telecom giants. In a nod to Trump's political status, the company will offer customers the '47 Plan,' a reference to Trump being the 47th president. Unlike traditional carriers, T1 Mobile will operate as a virtual network provider, using infrastructure owned by Verizon, AT & T and T-Mobile to deliver its services. The plan will cost Americans $47.45 monthly (about AU$73) for 5G service, positioning it as more expensive than smaller providers like Boost Mobile or Cricket but cheaper than major US carriers. According to the company's website, T1 Mobile will also begin selling a smartphone in August for US$499 (approximately AU$768), which it claims will be 'proudly designed and built in the United States.' This telecommunications venture represents the latest of many Trump family business ventures. Earlier ventures include Trump Media and Technology Group, launched in early 2021, which owns Truth Social and plans to introduce new investment products. Last September, the family backed World Liberty Financial, a cryptocurrency platform selling dollar-linked stablecoins, while Trump personally launched his own crypto memecoin, $TRUMP, hours before his January inauguration. Trump administration officials have dismissed questions about conflict of interest as Trump seeks to make money while serving as president, in part by pointing to the transparent nature of his business ventures. However, critics in Congress and among watchdog groups argue that the ventures offer a means for foreign interests and other shadowy entities to purchase influence. Originally published as Trump launches mobile service while in office with AU$73-a-month plan Read related topics: Donald Trump
The Wire
2 days ago
- Business
- The Wire
Mukesh Ambani's Reliance Ties Up With US President Donald Trump's Trump Organisation: Report
Menu हिंदी తెలుగు اردو Home Politics Economy World Security Law Science Society Culture Editor's Pick Opinion Support independent journalism. Donate Now Politics Mukesh Ambani's Reliance Ties Up With US President Donald Trump's Trump Organisation: Report The Wire Staff 6 minutes ago In January this year, Ambani had attended Trump's inauguration in the US and was also a guest in the state dinner held last month in Doha, that was hosted by the Qatar Emir for the US President. US President Donald Trump meets Reliance Industries Chairman Mukesh Ambani as Emir of Qatar Sheikh Tamim bin Hamad Al Thani looks on, in Doha, Qatar, on Wednesday, May 14, 2025. Photo: PTI Real journalism holds power accountable Since 2015, The Wire has done just that. But we can continue only with your support. Contribute now New Delhi: Reliance 4IR Realty Development, a unit of a company controlled by multibillionaire Mukesh Ambani has paid a $10 million 'development fee' to the Trump Organisation, the real-estate firm owned by US President Donald Trump, for licensing the Trump name in Mumbai. With the payment, Ambani, India's richest man has joined the ranks of foreign developers pouring money into Trump's real-estate firm, reported The Wall Street Journal. According to the president's annual financial disclosure report, investors planning Trump-branded projects in Vietnam, Dubai and Saudi Arabia and elsewhere paid the Trump Organisation $44.6 million in foreign licensing and development fees in 2024. The amount received from the investors is more than the $8.2 million received in 2023 and $9.4 million received in 2022 by the Trump Organisation. At the moment it's not yet clear that Reliance paid the development fee to the Trump Organization for which specific project in Mumbai, said the WSJ report. In January this year, Ambani had attended Trump's inauguration in the US and was also a guest in the state dinner held last month in Doha, that was hosted by the Qatar Emir for the US President. While previous administrations sought to keep the presidency separate from potential conflicts of interest, the Trump Organisation has seen an increase of such foreign deals, which reflects the Trump family's strategy of going ahead with expansion plans, while Trump is in office as the incumbent US President. In the first term, the Trump Organisation had pledged a halt to foreign dealmaking while Trump was in office, a move that put a stop to any new real-estate projects from the company. Donald Trump Jr, a company executive who oversees the president's assets with his brother, Eric Trump, said at a Qatar-based conference in May that recusal from deals didn't stop criticism, so this time the family has lowered the self-imposed guardrails – vowing only to avoid direct deals with foreign governments. 'We said we're going to play by the rules, but we're not going to go so far as to stymie our business forever,' Donald Trump Jr. said, reported WSJ. Representatives of Reliance didn't respond to requests for comment, the WSJ report noted. The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments. Make a contribution to Independent Journalism Related News If Trump Turns Tyrant, Can Others Be Far Behind? Trump's MAGA Base is Split on Support of Israel's Attacks on Iran National Guards in LA: Trump Has Long Speculated About Using Forces Against His Own People Full Text | Time of Monsters: Fascism and the Fusion of the State and the Corporation Donald Trump Manufactured the Crisis in Los Angeles China Agrees to Supply US With Rare Earths: Trump LA Protests: Trump's Decision to Deploy Military Criticised, California Governor Terms Move 'Deranged' What's the US Role in the Israel-Iran Conflict? US Cites National Security Grounds, Procedural Errors to Reject India's Notice at WTO View in Desktop Mode About Us Contact Us Support Us © Copyright. All Rights Reserved.
News.com.au
3 days ago
- Business
- News.com.au
Trump launches mobile service while in office with AU$73-a-month plan
Donald Trump's business empire is poised to expand further with the launch of a new mobile phone service while he serves as President of the United States. The Trump Organisation announced this week it would enter the telecommunications market with T1 Mobile, a service that will piggyback on existing networks owned by American telecom giants. In a nod to Trump's political status, the company will offer customers the '47 Plan,' a reference to Trump being the 47th president. Unlike traditional carriers, T1 Mobile will operate as a virtual network provider, using infrastructure owned by Verizon, AT & T and T-Mobile to deliver its services. The plan will cost Americans $47.45 monthly (about AU$73) for 5G service, positioning it as more expensive than smaller providers like Boost Mobile or Cricket but cheaper than major US carriers. According to the company's website, T1 Mobile will also begin selling a smartphone in August for US$499 (approximately AU$768), which it claims will be 'proudly designed and built in the United States.' This telecommunications venture represents the latest of many Trump family business ventures. Earlier ventures include Trump Media and Technology Group, launched in early 2021, which owns Truth Social and plans to introduce new investment products. Last September, the family backed World Liberty Financial, a cryptocurrency platform selling dollar-linked stablecoins, while Trump personally launched his own crypto memecoin, $TRUMP, hours before his January inauguration. Trump administration officials have dismissed questions about conflict of interest as Trump seeks to make money while serving as president, in part by pointing to the transparent nature of his business ventures. However, critics in Congress and among watchdog groups argue that the ventures offer a means for foreign interests and other shadowy entities to purchase influence.
The Age
3 days ago
- Business
- The Age
Made in the US? Trump's MAGA mobile is just another phoney deal
The Trump family says it's going to launch a mobile phone service with phones 'proudly designed and built in the United States'. Really? Not really. For a start, the statement in the press release claiming that the new 'sleek, gold smartphone' will be manufactured in the US is false. While a spokesman for the Trump Organisation told The Wall Street Journal that the phones would be manufactured in Alabama, California and Florida, Eric Trump admitted to a podcaster that, at least initially, the phones – supposed to be available from August – would be made offshore. 'Eventually, all the phones can be built in the United States of America,' he said. 'Eventually' could involve a very long wait. While the Trumps described 'T1 Mobile' as a 'transformational, new cellular service designed to deliver top-tier connectivity, unbeatable value and all-American service for our nation's hardest-working people', what's on offer appears to be an expensive re-badging of another company's offering. It's a licensing deal. The Trumps aren't building anything. They're selling the Trump brand, as usual, to a third party that will create a virtual network by accessing the actual mobile networks operated by AT&T, Verizon and T-Mobile. Are they at least offering the unbeatable value their announcement proclaimed? It appears not. The plan, as described, is $US499 ($766) for the phone plus $US47.45 a month (Trump is both the 45th and 47th US president – how clever!) for unlimited talk and text and 20GB of high-speed internet, access to telehealth services and roadside assistance. Leaving aside the service offerings (it's unclear whether they carry additional costs; the company that will provide the telehealth service charges a minimum of $US29 a month), the Trump Mobile plan costs more than twice that of similar plans offered by the companies whose networks will deliver the services.
The National
3 days ago
- Business
- The National
Developer expects $1bn Trump Tower in Dubai to sell out by end of summer
All units at Dubai's Trump International Hotel and Tower are expected to be sold by the end of summer amid high demand from buyers, the developer has said. The $1 billion development was launched in April by Dar Global, the international property arm of Saudi Arabia's Dar Al Arkan, in partnership with the Trump Organisation, the sprawling conglomerate of the family of US President Donald Trump. The project, which is being built near Downtown Dubai on Sheikh Zayed Road, is expected to be completed in five years. The development features more than 500 homes, with two penthouses costing Dh75 million ($20.4 million) each and three to four-bedroom apartments priced between Dh4 million and Dh5 million. It also has a Trump-branded hotel and a clubhouse. 'Sales have been strong, [there has been] very good reception for the brand, for the mix and the location,' Ziad El Chaar, Dar Global's chief executive, told The National in an interview. He did not say how many units have been sold so far. 'We have approximately 40 nationalities who are investing in the project including people from India, Pakistan, the UK, some investors from Arab countries such as Saudi Arabia, Lebanon, Iraq, Kuwait, Oman and from Eastern Europe, Turkey, Romania and Russia," he added. Dubai's residential sector continues to perform strongly, with the emirate recording 17,504 transactions in May, a 15.1 per cent month-on-month increase, while total sales value for the month surged to Dh54.48 billion, up 18 per cent on the previous month, according to Betterhomes. Average price per square foot also climbed 4.5 per cent on a monthly basis to Dh1,808 in May, data shows. Strong economic growth combined with government measures such as residency permits for retired and remote workers, and an expansion of 10-year golden visa programme has helped boost the property market in the emirate. "Prices are going up because there are a lot of clear fundamentals in the market," Mr El Chaar said. "You have economic demand, you have economic attraction. You have a lot of facilitation on golden visas. These days, you have a big increase in traffic at the airport, which means people are not just speculating online, they are here, they are in the market. "At the same time, we have a lot of people who are flying from high tax areas, coming to domicile in the UAE, plus you also have new activities happening that are bringing more people to the country, especially with the gaming [resort] opening in Ras Al Khaimah." Partnership with Trump Organisation to continue Dar Global, with a property portfolio worth $10 billion in the UAE, Oman, Saudi Arabia, the UK and Spain, plans to continue building new projects in partnership with the Trump Organisation, which is managed by Mr Trump's sons, Donald Jr and Eric Trump. 'We have announced seven projects in two years [with the Trump Organisation] and this successful collaboration will continue,' Mr El Chaar said. Dar Global is currently building two new projects in Oman, a hotel and a residential development, as well as a Trump tower in Jeddah, the Trump International Hotel and Tower in Dubai and a new project in Doha that was unveiled last month. The company has also committed to building two new residential projects in Riyadh with the Trump Organisation and is expected to finalise another in the Saudi capital by the end of the year. Abu Dhabi expansion Dar Global is "aggressively pursuing" entering the Abu Dhabi market. "We are in continuous discussions with a lot of parties in Abu Dhabi to find the right project," Mr El Chaar said. "We are very much interested to launch in Abu Dhabi because we believe the market has now enough attractants to bring in the investors from outside, and some within Abu Dhabi, and we would like to put our flag in the market."
