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Trump and money

theprestige said:
I admit it never occurred to me that Donald Trump might not be nearly as rich as he claimed. So good we have a thread dedicated to skeptical examination of this claim. /s

/s

Of course /s

This thread is an emotional outburst, not a skeptical examination. For shame.
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People, glass houses, rock.......
 
theprestige said:
I admit it never occurred to me that Donald Trump might not be nearly as rich as he claimed. So good we have a thread dedicated to skeptical examination of this claim.
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You didn’t?

Here's the problem. Trump lies. Hell, even if you support him, you have to accept that the man exaggerates and tells tall tales. He's not been consistent about his wealth claims.

Trump said in mid 2022 that he is worth 8 to 9 billion dollars. But this seems highly unlikely since the AG's fraud case was about Trump significantly misrepresenting his net-worth on his Statement of Financial Conditions that he prepared yearly to present to his creditors.

Trump was required by Deutsche Bank and Ladder Capital to maintain a minimum of 2.5 billion dollars of personal equity. This was necessary as Trump personally guaranteed loans on the Old Post Office and 40 Wall Street building. . He was offered by Deutsche Bank two kinds of loans. One for 4 percent plus LIBOR. (This required a personal guarantee) The second loan was for 8 percent plus LIBOR. (LIBOR is the London Exchange Bank Borrowing Rate) Trump chose to provide a personal guarantee and save 4% a year in interest.

We do know that 40 Wall Street was appraised by Cushman and Wakefield in 2015 for $540 million and yet the Trump Organization listed it at $735 million on the SFC. The SFC double counted the income of the Dean and Deluca lease. The SFC falsely represented 40 Wall Street earnings stating the building was profiting $29 million dollars annually while in fact it was losing $20 million a year.

We know that Seven Springs mansion lots were appraised at $775,000 per raw lot, an estimate that would have valued the entire seven￾mansion development at approximately $5.5 million. The SFC appraised it at $161 million

The Triplex apartment at Trump Tower was not only listed as three times the actual square footage but significantly more per square feet than any residence in the entire country.

There's a lot more data in Engoron's ruling that shows exaggeration after exaggeration. But obviously, some of this is out of date.

I admittedly DON'T know how much Trump is worth. Trump posted $5.5 million dollars for the first EJean Carroll case. He didn't purchase a bond, he put the money up himself. This seems strange. Why?

I would be thrilled if Prestige contributed information why Trump is as rich as Trump says he is.

We'll have a better idea on March 11 when the 90 million dollar bond for the second E Jean Carroll case is required.
 
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I strongly suspect that Trump counts his "lines of credit" with various overseas sources as part of his personal wealth. That is, how much he can go into hock with his "friends" for, before they cut his balls off as payment. We don't know how much that limit might be. And I very much suspect neither does Donny...until his pearly pink nuggets drop into Pootie's top drawer.
 
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acbytesla said:
I thought about that too.

But I thought whoever was running the scam would just take a big slice off the top. This is why I choose my charities very carefully. It's amazing just how few of them funnel more than pennies on the dollar to the charity they represent.

Trump is barely treading water. His daily nut is huge. I not so secretly look forward to reading about Trump and the Trump Organization bouncing checks.
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They already have, many times. Here's a link I found after a short search. Maybe not the Trump Org, for that one I found it worded differently (second link) and I didn't want to keep searching.

Trump Magazine Survivor Describes Bounced Paychecks, ‘Living in an Onion Article’
A former receptionist for the now-defunct Trump Magazine says she felt like she was living in a satire when her checks began to bounce.
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Former President Donald Trump’s family company—notorious for stiffing contractors and dodging bills—has paid the $1.6 million fine it received for its tax fraud conviction in December.
 
acbytesla said:
He's going to be fine. He'll sell some lesser known asset and claim that he'd forgotten he had it and it smelled all musty anyway and whoever bought it is a sucker and a Democrat.
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So you think he can sell Eric?
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Well, he does fit the profile of a "forgotten asset..."

From: Busines Insider
Former President Donald Trump forgot to name one of his children during his victory speech after securing the Republican primary nomination in South Carolina... He neglected to mention his second son, Eric Trump, and his wife, Lara, standing onstage to his right.
 
Here's a WaPo article covering much of this thread's topic. One thing of note: apparently Trump Social is worth something.

https://wapo.st/4bURBqX

Later this year, Trump may also be expecting a financial windfall from his social media company, Truth Social. Digital World Acquisition, a special-purpose acquisition company, recently won a critical approval from the Securities and Exchange Commission to merge with Trump’s media start-up, which could give Trump a stake of publicly tradable shares worth nearly $4 billion, based on recent stock values.
Trump may not be able to sell any shares for six months after the merger. But he could try to borrow against those future shares to raise money more quickly, said New York University law professor Michael Ohlrogge.
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I think the next paragraph in the article somewhat aligns with you...

“Trump could in theory borrow against those shares,” Ohlrogge said. It’s relatively common for banks to lend money to company founders, he pointed out. But it would be more complicated for Trump, he said, because a sell-off by Trump “could quite easily drop the price down a lot, because it would represent a large fraction of the currently available shares.”
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BigBank: OK, Mr Trump, we are going to allow you to borrow using your future shares as collateral. But you have to promise, pinky-swear, that you are not going to sell the shares the moment they become available. Yes?

Trump: Sure, I swear on the head of my wife Mercedes that I won't!

BigBank: .......why do you have your fingers crossed?

Trump: ...FAKE NEWS!
 
Way too many Americans want a strong daddy figure to make all the scary monsters go away, and for some incomprehensible reason they have decided that's Trump. He's a poor man's idea of a rich man, a stupid man's idea of a smart man, and a weak man's idea of a strong man.

- Zakalwe (poster on Apollohoax.net)
 
theprestige said:
Dang. I guess that never occurred to me either. Thanks again for this thread, bringing it to my attention.
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Yeah, it seems obvious to me too. But that seems to escape many of his supporters.

I created the thread to get a real understanding of his financial condition. I've been trying to obtain answers. But unfortunately, it's damn hard to separate the facts from Trump's constant misinformation campaign. It's also hard to fully understand through so many articles that just repeat other articles that may or may not be accurate.

Right now, facts and fiction appear to be heading towards a major collision.
 
acbytesla said:
Yeah, it seems obvious to me too. But that seems to escape many of his supporters.

I created the thread to get a real understanding of his financial condition. I've been trying to obtain answers. But unfortunately, it's damn hard to separate the facts from Trump's constant misinformation campaign. It's also hard to fully understand through so many articles that just repeat other articles that may or may not be accurate.

Right now, facts and fiction appear to be heading towards a major collision.
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It seems like you're trying to crowdsource an answer, from a crowd of maybe six people who already know what you know and already believe what you believe.

A better understanding of his financial position? Please. Nobody here understands his financial position any better than you do.
 
theprestige said:
It seems like you're trying to crowdsource an answer, from a crowd of maybe six people who already know what you know and already believe what you believe.

A better understanding of his financial position? Please. Nobody here understands his financial position any better than you do.
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You probably are right. But maybe someone else might know how to obtain better information. But I'm a firm believer of looking outside myself for the answers.
 
Now I know we have this thread, I'll keep an eye out for any relevant news/links to contribute.
 
theprestige said:
Well now I feel bad for ApolloHoax.net.
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Why?

Zakalwe absolutely nailed this description of The Fat Orange Turd with its accuracy. The only better one I have heard is from Malcolm Nance, former Naval Intelligence officer and foreign policy analyst..

George Washington was the President who could not tell a lie,
Richard Nixon was the President who could not tell the truth,
Donald Trump was the President who could not tell the difference!

I guess you won't like that either!?
 
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