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this post was submitted on 08 Mar 2024
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politics
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I thought he was rich. Fucking lol.
Even if he has a net worth that is legitimately where he claims(it isn't), he would not have tens of millions available. All his money would be in properties, bonds, stocks, and some squirreled away in Russian nesting dolls of accounts overseas. You don't keep millions in the bank when inflation is where it is at, putting it in property or other assets is safer and more profitable.
With actual billions in net worth, he would probably have to lose tens of millions to have $83m transferrable in "short" notice and it could take weeks.
The $83m is probably doable, the half billion is probably going to need outside financing or property loss. So we will see a better picture of things when some of his properties go up for sale at a deep discount compared to his appraisal. Lol
Real billionaires just use their assets (those properties, bonds, and stocks you mentioned) as collateral against a loan. They could then take the weeks or months needed to liquidate other assets at maximum value to pay off the loan.
I mean, you don't even need to be a only 1%-er to get a loan against your stocks with a Pledge Asset Line (of credit).
" What is a Pledged Asset Line?
A Pledged Asset Line from Charles Schwab Bank, SSB ("Schwab Bank") is a non-purpose line of credit that allows you to borrow against the non-retirement assets in your portfolio—without having to liquidate your investments."
Absolutely, but he is likely overleveraged against inflated assets. He still owes on multiple properties and at least one of his NYC properties he can't sell for a couple decades.
Luxury properties aren't selling very well right now. It could take years to sell off enough to cover the $84m, I think Mar a lago would need to be sold to cover the half billion. He can of course find a buyer quickly from outside the country, but sanctions could be a problem.
I find these terms to be acceptable.
the most amazing thing about this is the fraud case proved that his assets aren’t worth what he says so getting a loan against them is going to be damn near impossible! 🥹
The problem is finding a legitimate bank that would even attempt a loan with him.