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this post was submitted on 01 Feb 2024
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politics
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And Trump's donations have sucked all the air out of the room for all GOP candidates, state parties, etc. They're throwing the 2024 war chest down the endless hole of Trump's legal problems. Isn't he supposed to be a billionaire?
Looking forward to seeing exactly what that real estate is actually worth when he's forced to divest and pay the judgements against him.
probably half underwater, loaded down with debt; and the rest, likely falling apart in need of significant renovations.
who am i kidding? it's likely all loaded down with debt.
Does Deutchbank debt count as actual debt? I always figured with all the money laundering, that if he had to sell any of his actual properties (which are mostly shitty golf courses at this point), that the Russian moon would be charging him by the kneecap.
It's the worst time to sell as well, with high interest rates and nobody wanting to be associated with anything Trump.
The New York properties will definitely sell if it comes to that, no problem. 3 desirable towers of luxury apartments in NYC would be worth a ton.
Even if they have to gut the whole damned thing, the superstructure alone is probably worth the money.
Sure. But only a portion of that loss equal to the tax rate. I don't know what that rate is, but it it's 30% then he's eating 70% of the loss.
People keep throwing these accounting rules around as if they make losses not matter at all. They do.
If engeron fines him 300-400 million he’s fucked.
How has Trump always survived his other fiascos? Ans, Putin. The only question is which oligarch will buy his building at 20X what it is worth, then sell it back to him, under market value.
Still, that night will see many beaten prostitutes, 500 Truth Social posts in all caps and ketchup everywhere.
Lol, that's not how any of this works
How can he pay less than zero?
It can carry over for several years
How much is office space? That's not worth a lot anymore. If he's lucky he owns a lot to apartments
NYC real estate is always valuable.
He’s a billion dollars in debt.
Pinhead fucknuts think that means he’s a billionaire. He’s got a billion dollars less than nothing.
Relevant: he’s a convicted fraud.
Funny how you can live like a king if you're $1 billion in debt, but if you just have no money, you're just going to be homeless.
I have a problem if I owe the bank a thousand dollars. The bank has a problem if I owe them a million dollars.
It needs to be a lot more than ‘just’ a million to make a bank really sweat and act abnormal; at that level you’re just a criminal they pursue.
A Newsweek article says he has $2.6B networth with $426M in cash and liquid assets. However, that very article is about the trial where he inflated his assets, so the basis for that may be completely wrong.
That trial could put him under penalty of $370M. The Carroll lawsuit is $83.3M. Even if we take his liquid assets above as a given, he'd be wiped out, and his real estate is worth a fraction of what he claims.
Trump needs to be in jail, but he'd also be Al Capone running his empire from a cell if he had to. Kick him in the money. That hurts him personally.
God, I hope they fine him based on the amount of money he says he has.
Yeah, as literally every developer in NY said for years. Even before his presidential run:
"How do you make $1M in real estate?"
A: Give Trump $100M.
Trump's supposed wealth was always mostly marketing. Being a billionaire was literally his brand image.
It’s a lot like how Elron Musk theoretically is worth billions, but still feels the need to run funny schemes on doge coin. He can’t sell substantial amounts and get cash without reducing the Tesla share price and thus his overall net worth even more than what he took out.
Not wholy true, he might not be able to sell his stocks but he can take out loans against them for money.
It's the Buy, Borrow, Die Strategy, and how they avoid taxes as well. He's not poor he doesn't need to grift and he has all the liquid money he could ever need for a thousand life times...
Elton still does feel the need to do shit like pump Dogecoin though. Maybe it’s just for the thrill of scamming people.
He's a billionaire because he doesn't spend his own money. He spends someone else's.