Ross purchased his stake shortly after Trump was elected.
The takeover failed, but Ross, the owner of Equinox, SoulCycle, and the Miami Dolphins, purchased a $80 million stake in Ladder.
Trump still owes Ladder between $110 million and $150 million for loans dating back to 2012, according to the president’s 2019 financial disclosure.Although U.S. presidents are not legally obligated tothemselves from their businesses, Trump’s business dealings while he serves in the White House have come under intense scrutiny.
“An investment which Related manages owns less than 5% of the shares of Ladder and we have no board representation. Any allegation or speculation beyond a simple investment strategy is patently false,” said Joanna Rose, a spokesperson for Ross’ Related Companies, in a statement.
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