Trump Oil Corporation

Last updated

The Trump Oil Corporation was a Vancouver-based company owned by former US President Donald Trump during his business career.

Contents

Background

The company was initially created on 31 August 1995 as Visioneering Corporation, then changed to Asiamerica Energy Corporation on 12 January 1996, Care Financial Corporation on 29 April 1996, and became Trump Oil Corporation on 15 May 1997. [1] [2]

In October 1996, the Trump Oil Corporation acquired Care Concepts, a Nevada company specialized in wheelchair-accessible minivans. [3] In August 1997, Trump Oil Corporation abandoned a deal for sapphires, emeralds and gold in Madagascar. [3] Patrick Leloup, the first person to obtain an emerald exploitation licence in Madagascar, was a consultant for the Trump Oil Corporation. [4]

In February 1998, Trump Oil was preparing a takeover of Fenway Resources, after Donald Trump was introduced to Fenway by Ranbir "Ron" Singh Dhaliwa.[ citation needed ] The Vancouver Stock Exchange red-flagged the deal because of two controversial intermediaries, Lucky Janda and Gerry Sklar. [3] The British Columbia Securities Commission provided the following information after investigating the Trump Oil Corporation: While the company was set up in Nevada in 1995, its headquarters and directors were all based in British Columbia. Before making an offer to purchase Fenway with Trump Oil shares in 1998, the commission identified a grey area between 1997 and 1998 where the value of the Trump Oil shares were inflated by way of unreported transfers and over-the-counter trades through the bulletin board of the NASD, which led to a market valuation of $32,593,814 as of 13 January 1998. [ citation needed ] The Fenway deal was giving a pro forma financial stake of $14,423,790 to the Trump Oil Corporation in the Palawan exploitation rights held by Fenway. [5]

In 1999, the Trump Oil Corporation reported $2,500 in sales, and around $20,000 in losses. [6] The same year it acquired the Colorado-based company 20/20 Web Design. [1] Another report states that the 20/20 Web Design company was based in Nevada. After the merger, Trump Oil Corporation changed its name to 20/20 Web Design and was merged with Colorado-based Multi-Source Capital Ltd., acquired in April 1999 by Stein's Holdings Inc. [6] [7]

Related Research Articles

<span class="mw-page-title-main">Carl Icahn</span> American businessman and financier (born 1936)

Carl Celian Icahn is an American businessman, investor, and philanthropist. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, Florida. Icahn's business model is to take large stakes in companies that he believes will appreciate from changes to corporate policy. Subsequently, Icahn then pressures management to make the changes that he believes will benefit shareholders, and him. Widely regarded as one of the most successful hedge fund managers of all time and one of the greatest investors on Wall Street, he was one of the first activist shareholders and is credited with making that investment strategy mainstream for hedge funds.

<span class="mw-page-title-main">NYSE Chicago</span> American stock exchange

NYSE Chicago, formerly known as the Chicago Stock Exchange (CHX), is a stock exchange in Chicago, Illinois, US. The exchange is a national securities exchange and self-regulatory organization, which operates under the oversight of the U.S. Securities and Exchange Commission (SEC). Intercontinental Exchange (ICE) acquired CHX in July 2018 and the exchange rebranded as NYSE Chicago in February 2019.

HRG Group, Inc., formerly Harbinger Group Inc. and Zapata Corporation, was a holding company based in Rochester, New York, having originated from an oil company started by a group including future U.S. president George H. W. Bush. In 2009, it was renamed the Harbinger Group Inc.

<span class="mw-page-title-main">Brookfield Corporation</span> Canadian asset management company

Brookfield Corporation is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct control investments in real estate, renewable power, infrastructure, credit and private equity. The company invests in distressed securities through Oaktree Capital, which it bought in 2019. Brookfield's headquarters are in Toronto.

<span class="mw-page-title-main">SpaceDev</span> Company

SpaceDev, a part of the "Space Systems Business" of Sierra Nevada Corporation, is prominent for its spaceflight and microsatellite work. It designed and built components for the hybrid rocket motors for Paul Allen's Tier One suborbital SpaceShipOne space program operated by Scaled Composites. It is also developing micro- and nano-satellites, a small expendable launch vehicle, the SpaceDev Streaker, and has designed a piloted suborbital and orbital spaceship of its own, the SpaceDev Dream Chaser, in collaboration with NASA.

Chubb Limited is an American-Swiss company incorporated in Zürich, and listed on the New York Stock Exchange (NYSE) where it is a component of the S&P 500. Chubb is a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and is the largest publicly traded property and casualty insurance company in the world. Chubb operates in 55 countries and territories and in the Lloyd's insurance market in London. Clients of Chubb consist of multinational corporations and local businesses, individuals, and insurers seeking reinsurance coverage. Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance.

<span class="mw-page-title-main">Marathon Petroleum</span> American petroleum refining, marketing, and transportation company

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.

<span class="mw-page-title-main">WESCO International</span> Holding company

WESCO International, Inc. is an American publicly traded Fortune 500 holding company for Wesco Distribution, a multinational electrical distribution and services company based in Pittsburgh, Pennsylvania.

<span class="mw-page-title-main">Vornado Realty Trust</span> American real estate investment trust

Vornado Realty Trust is a real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.

Zimmer Biomet Holdings, Inc. is a publicly traded medical device company. It was founded in 1927 to produce aluminum splints. The firm is headquartered in Warsaw, Indiana, where it is part of the medical devices business cluster.

<span class="mw-page-title-main">D. R. Horton</span> U.S. homebuilding company

D.R. Horton, Inc. is an American home construction company based in Arlington, Texas. Since 2002, the company has been the largest homebuilder by volume in the United States. The company ranked number 194 on the 2019 Fortune 500 list of the largest United States corporations by revenue. The company operates in 90 markets in 29 states.

<span class="mw-page-title-main">Yellow Corporation</span> American transportation holding company (1929–2023)

Yellow Corporation was an American transportation holding company headquartered in Overland Park, Kansas. Its subsidiaries included national less than truckload (LTL) carrier YRC Freight; regional LTL carriers New Penn, Holland, and Reddaway; and freight brokerage HNRY Logistics. From 2006 to February 2021, Yellow was known as YRC Worldwide.

<span class="mw-page-title-main">Broadcom</span> American semiconductor company

Broadcom Inc. is an American multinational designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products. Broadcom's product offerings serve the data center, networking, software, broadband, wireless, storage, and industrial markets. As of 2023, some 79 percent of Broadcom's revenue came from its semiconductor-based products and 21 percent from its infrastructure software products and services.

Ampco-Pittsburgh Corporation is a specialty steel manufacturer headquartered in Downtown Pittsburgh, Pennsylvania. It is one of several companies to bear the Ampco name, and it should not be confused with the Milwaukee-based copper base alloy producer, Ampco Metal Inc.; the Miami-based cabinetry company; the Swiss aluminum corporation; or the Dallas-based tool company. Ampco was formed in 1929 and is a conglomerate made up of several previously established small steel makers. Five small companies operate under the Ampco umbrella in two different product segments.

Convera was formed in December 2000 by the merger of Intel's Interactive Services division and Excalibur Technologies Corporation. Until 2007, Convera's primary focus was the enterprise search market through its flagship product, RetrievalWare, which is widely used within the secure government sector in the United States, UK, Canada and a number of other countries. Convera sold its enterprise search business to FAST Search & Transfer in August 2007 for $23 million, at which point RetrievalWare was officially retired. Microsoft Corporation continues to maintain RetrievalWare for its existing customer base.

<span class="mw-page-title-main">F&G</span> American insurance company

F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.

<span class="mw-page-title-main">Jay Clayton (attorney)</span> American attorney (born 1966)

Walter Joseph "Jay" Clayton III is an American attorney who served as the chairman of the U.S. Securities and Exchange Commission from May 4, 2017 until December 23, 2020. He was nominated for the position by President Donald Trump.

<span class="mw-page-title-main">Electric Bond and Share Company</span>

The Electric Bond and Share Company (Ebasco) was a United States electric utility holding company organized by General Electric. It was forced to divest its holding companies and reorganize due to the passage of the Public Utility Holding Company Act of 1935. Following the passage of the Act, the U.S. Securities and Exchange Commission (SEC) selected the largest of the U.S. holding companies, Ebasco to be the test case of the law before the U.S. Supreme Court. The court case known as Securities and Exchange Commission v. Electric Bond and Share company was settled in favor of the SEC on March 28, 1938. It took twenty-five years of legal action by the SEC to break up Ebasco and the other major U.S. electric holding companies until they conformed with the 1935 act. It was allowed to retain control of its foreign electric power holding company known as the American & Foreign Power Company (A&FP). After its reorganization, it became an investment company, but soon turned into a major designer and engineer of both fossil fuel and nuclear power electric generation facilities. Its involvement in the 1983 financial collapse of the Washington Public Power Supply System's five nuclear reactors led to Ebasco's demise because of the suspension of nuclear power orders and lawsuits that included numerous asbestos claims. The U.S. nuclear industry stopped all construction of new facilities following the 1979 nuclear meltdown at Three Mile Island, going into decline because of radiation safety concerns and major construction cost overruns.

Udenna Corporation operates as a holding company. The Company distributes and retails petroleum products and lubricants, engages in shipping and logistics services, operates in property development, education, food, gaming, tourism, infrastructure and telecommunications sectors in Philippines. and become the top business leaders in Davao City.

Trump Media & Technology Group Corp. (TMTG) is an American media and technology company headquartered in Sarasota, Florida. It is best known as the owner of Truth Social and for being primarily owned by former U.S. president Donald Trump. It also plans to launch a subscription based streaming service called TMTG+. Founded by Andy Litinsky and Wes Moss in 2021, it went public on March 26, 2024, after merging with Digital World Acquisition Corp. (DWAC), a special-purpose acquisition company (SPAC).

References

  1. 1 2 Item 6. Management's Discussion and Analysis or Plan of Operation, Edgar-online.com, 17 April 2007
  2. Commission File No. 0-29935 20/20 Web Design, Inc., Sec.gov, 31 March 2000
  3. 1 2 3 Brent Mudry, Sklar and Janda re-appear, Siliconinvestor.com, 17 February 1998
  4. Andry Rajoelina, The billboard king turned president Archived 24 August 2019 at the Wayback Machine , Africaintelligence.com, 8 January 2013
  5. Fenway Resources, Ltd., et. al. [Decision], Bcsc.bc.ca, 19 March 1998
  6. 1 2 Commission File Number: 33-11986-La Stein's Holdings, Inc. Archived 4 January 2019 at the Wayback Machine , Secinfo.com, 1999
  7. Commission File Number: 33-11986-La Stein's Holdings, Inc., Sec.gov, 31 December 1998