 | |
| Company type | Privately held |
|---|---|
| Industry | For-profit education |
| Founded | 2004 (incorporated) May 23, 2005 (launched)[1] |
| Founder | Donald Trump |
| Defunct | 2011 |
| Headquarters | New York City , U.S |
| Website | trumpinitiative (registration required) |
Trump University (also known as the Trump Wealth Institute and Trump Entrepreneur Initiative LLC) was an American company that ran a real estate training program from 2005 to 2010. It was owned and operated by The Trump Organization. A separate organization, Trump Institute, was licensed by Trump University but not owned by The Trump Organization. In 2011, amid multiple investigations, lawsuits and student complaints, it ceased operations.[2] It was founded in 2004 by Donald Trump, who was U.S. president from 2017 to 2021, and his associates Michael Sexton and Jonathan Spitalny. The company offered courses in real estate, asset management, entrepreneurship, and wealth creation.[3]
Despite its name, the organization was not an accredited university or college. It conducted three- and five-day seminars (often called "retreats") and used high-pressure tactics to sell them to its customers.[4] It did not confer college credit, grant degrees, or grade its students.[5] In 2011, the company became the subject of an inquiry by the New York Attorney General's office for illegal business practices, which resulted in a lawsuit filed in August 2013.[6] An article in the National Review called the organization a "massive scam".[7]
Trump University was also the subject of two class actions in federal court. The lawsuits centered around allegations that Trump University defrauded its students by using misleading marketing practices and engaging in aggressive sales tactics. The company and the lawsuits against it received renewed interest due to Trump's candidacy in the 2016 presidential election. Despite repeatedly insisting he would not settle, Trump settled all three lawsuits in November 2016 for a total of $25 million after being elected president.[8]
- ^ Hindo, Brian (May 23, 2005). "Trump University: You're Wired!". Bloomberg Markets. Archived from the original on March 14, 2016. Retrieved April 18, 2012.
- ^ "Spin, deride, attack: How Trump's handling of Trump University presaged his presidency". The Washington Post. 2020.
- ^ Lawler, David (March 1, 2016). "Trump University suit revived after ruling by New York court". The Daily Telegraph. Archived from the original on September 11, 2018.
- ^ "Case document—Exhibit A2—Trump university Sales Playbook" (PDF). Trump University. Archived from the original (PDF) on June 11, 2016. Retrieved January 23, 2019 – via AmericanBridgePAC.org.
- ^ Levine, Greg (May 23, 2005). "Trump University Founded For Student 'Customers'". Forbes. Archived from the original on October 23, 2012. Retrieved April 18, 2012.
- ^ Perlberg, Steven (August 26, 2013). "New York Attorney General Sues Donald Trump And His Alleged 'Sham' 'University' -- Says Students 'Defrauded' Out Of $US 40 Million". Business Insider Australia. Archived from the original on August 23, 2016. Retrieved December 13, 2019.
- ^ Tuttle, Ian (February 26, 2016). "Yes, Trump University Was a Massive Scam". National Review. Retrieved March 12, 2021.
- ^ Carroll, Rory (November 12, 2018). "Donald Trump settles fraud lawsuits relating to Trump University for $25m". The Guardian. Archived from the original on May 31, 2018. Retrieved November 18, 2016.