On January 30, 10 days after #DonaldTrump’s inauguration, a firm with ties to the president created two companies in Delaware, DT Marks Abu Dhabi LLC and DT Marks Abu Dhabi Member Corp. The naming conventions of the entities—starting with Trump’s initials, followed by the word “Marks,” then a location of a future project—match how the president has named more than 30 other licensing entities in his portfolio. The #TrumpOrganization has not yet announced a deal in the capital of the United Arab Emirates, but it’s likely just a matter of time. Since last fall, Trump has been on a dealmaking spree, with his business revealing eight new projects in just 10 months. His foreign licensing income shot up from an estimated $6 million in 2023 to nearly $50 million last year. More business is headed Trump’s way: Corporate filings point to at least three other unannounced deals—in Abu Dhabi, Serbia and Hungary. All of this represents an about-face for the president, who hung onto ownership of hi...