Business records reviewed by Newsweek reveal that Barron Trump established a real estate business in July 2024. That same month, his older brother, Eric Trump, also launched a previously undisclosed company. Barron Trump’s firm was dissolved in November following Donald Trump’s presidential election victory, but a partner told Newsweek there are plans to relaunch the business.

In 1971, Donald Trump, in his mid-twenties, took over his father’s residential real estate company, marking the start of a business empire that would expand into homes, luxury hotels, casinos, and golf courses both in the United States and abroad. The enterprise not only made Trump a global household name but also laid the foundation for his political career, Newsweek noted.

As Trump returned to the White House on Monday, the business dealings of his close family members across hundreds of companies—spanning real estate, hotels, and golf clubs, many managed under the Trump Organization—are expected to come under increased scrutiny, fueled in part by concerns over potential political influence. But like during his first term, Trump turned the businesses over to his sons and has taken a hands-off approach while in office.

Barron played a key role in advising his father on strategies to engage younger voters, according to media reports. Meanwhile, Eric Trump, 41, remains integral to his father’s business interests, serving as executive vice president of the Trump Organization alongside his brother, Donald Trump Jr., 47.

The company linked to Barron Trump, Trump, Fulcher & Roxburgh Capital Inc., was a real estate firm incorporated on July 15, 2024. It was dissolved on November 14, shortly after Donald Trump’s victory in the presidential election, Newsweek reported.

Cameron Roxburgh, one of Barron’s partners and a classmate from the $40,000-a-year Oxbridge Academy in Palm Beach, told Newsweek that the team dissolved their company to avoid media scrutiny during the election but plans to relaunch it in the spring.

Roxburgh described the firm as a high-end real estate development company with plans to build properties and golf courses in Utah, Arizona, and Idaho. He noted that Donald Trump had offered private advice to his son and approved of the business concept.

Roxburgh clarified that Donald Trump had not provided funding but mentioned that they aim to eventually incorporate the company as a subsidiary of the Trump Organization, although there are no immediate plans for this, the outlet added.

The other incorporator, Carter Fulcher, is a partner in a luxury real estate company in Idaho and a cousin of Idaho Republican Congressman Russ Fulcher. Roxburgh stated that Rep. Fulcher is not involved in the business.

The business’s principal office is listed at Donald Trump’s Mar-a-Lago estate in Palm Beach, Florida, and it was incorporated in Wyoming, a state known for its business-friendly environment due to low taxes and minimal regulations. Barron Trump is currently studying at New York University’s Stern School of Business. Just three days before Barron incorporated his venture, his brother Eric Trump registered ET Talks LLC on July 12, 2024.

There is little public information is available about the purpose of ET Talks, Newsweek reported. Corporate filings show the company is registered at Trump National Golf Club in Jupiter, Fla., where Eric resides with his wife, Lara Trump.

A former Fox News contributor, Lara served as co-chair of the Republican National Committee from March to December 2024.

“Filings list Lizebeth Kyprislidis, director of project coordination at the Trump Organization as a point of contact for correspondence relating to the incorporation of the business,” the outlet reported.