Trump family’s Georgia tower linked to Russian-connected oligarchs and sanctioned firms

The Trump Organization announced a 70-storey luxury tower in Tbilisi, Georgia, with Eric Trump sharing an AI rendering of the project. The development lists Biograpi Living as a partner, a company half-owned by the Pkhakadze family and half by Riverside Invest, which is ultimately controlled by Paata Gamgoneishvili, a 70-year-old Georgian oligarch who built his fortune in post-Soviet Russia and received a state medal from Boris Yeltsin.

Gamgoneishvili’s longtime associate, 60-year-old Russian investor Roland Isaev, is also tied to the venture, and both have been linked to Russian banks such as Sberbank and Alfa Bank that remain under sanctions. Further scrutiny revealed that other Georgian partners, including Archi Group, Finvest Georgia and the Blox Group, have donated to the party of sanctioned billionaire Bidzina Ivanishvili. While Biograpi claims no ownership stake, its Instagram promoted the tower as a joint effort, and corporate records show Riverside is a creditor of the development vehicle Idea LLC. The White House responded that the president’s holdings are managed independently and are not implicated in the project.