Related Companies Sucks Up Cash That Finds Its Way to the President

Roosevelt Islanders Forced To Contribute To Trump

Updated 51 weeks ago David Stone
Old and new Related managed residences on Roosevelt Island funnel cash into the Trump campaign.
Old and new Related managed residences on Roosevelt Island funnel cash into the Trump campaign.
© David Stone / Roosevelt Island Daily

Outrage against billionaire Steve Ross's Friday fundraiser for Donald Trump in the Hamptons centered on retaliation against fitness boutiques Equinox and SoulCycle, but Roosevelt Islanders have a special interest. The Related Companies, founded and controlled by Ross, is also heavily invested here.

"Stephen Ross, will host a fundraiser for President Trump in the Hamptons," the Advocate reported. "The Friday event, which will charge $100,000 for a photo and $250,000 to hear a roundtable discussion, will be attended by senior members of the Trump administration and First Family members like son-in-law Jared Kushner and Donald Trump, Jr."

Gay rights activists stirred the LGBTQ community with calls for boycotts, and a spokesperson for both companies responded, saying that they did not support the event.

The spokesperson also said that no profits from either company were going to the event.

But how is that possible?

Their parent company, Related, was founded by Ross who continues as chairman and largest stockholder. That is, of course, profits earned at Equinox and SoulCycle end up in the Trump Campaign's pocket. 

Roosevelt Island Connection

As one concerned resident pointed out, Related shares development and management of Southtown, meaning rents and other fees are flowing in Trump's direction. With partner Hudson, Related is also responsible for Main Street retail by way of a contract with RIOC.

Main Street retail has never emerged from ghastly during the Hudson-Related reign, but  some of every dime you spend on Main Street still drips down to the Hamptons, tomorrow.

"Don't support haters," one protestor wrote on Facebook.

"Leave in droves," another advised. "Why would you give him your money?"

If you have a lease in Southtown, if you rely on our intrepid, generally high quality Roosevelt Island businesses, you don't have much choice. And boycotting Main Street would do more to harm us than Related or Ross.

But be aware. The company you keep may not always be who you think they are and may embrace values antithetical and antagonistic to your own.

 

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