US Election & Presidency

He doesnt have his own money especially if Duetshe bank call in there loans think its about 300million dollars in the hole

^What's on the books and what he has hidden away are 2 very different things.

I doubt that Trump has any money hidden away. He has several loans and mortgages which makes no sense if he has money to pay them off. Why pay millions in interest if you don't need to. He'd be bleeding himself dry unnecessarily. What Trump does have though is assets. He has plenty of hotels and golf courses that could be sold if he wanted to raise cash. In fact if he can't refinance the Duetshe bank loan that HannahsPet mentioned above, selling some of his assets would likely be his only option.

A lot of this came out when the NYT broke the story about his tax returns about a year ago.

From memory, his personal finances didn't sound nearly as dire as the 'scare headlines' and CNN opinion hosts suggested.

It undermined the whole self-made billionaire bravado, but it certainly didn't paint the picture of rampant criminality. He had some large debts and some underperforming assets, but the annual revenue from the two Manhattan towers and the golf resorts in New Jersey and Florida was more than enough to service the loans.

Most of the really 'sinister' projects like Trump hotels, resorts and condominiums in places like Azerbaijan and Panama were, in fact, just over-priced licensing deals. Trump just sold his name for an obscene amount of money, but didn't take any risk on those properties.

(24-07-2021 15:45 )4waydiablo Wrote:  I doubt that Trump has any money hidden away. He has several loans and mortgages which makes no sense if he has money to pay them off. Why pay millions in interest if you don't need to. He'd be bleeding himself dry unnecessarily. What Trump does have though is assets. He has plenty of hotels and golf courses that could be sold if he wanted to raise cash. In fact if he can't refinance the Duetshe bank loan that HannahsPet mentioned above, selling some of his assets would likely be his only option.

You're not getting how Trump works though. He uses borrowed money because if the venture, whatever it is, goes tits up, he defaults (or threatens to default to renegotiate the deal) and it's the lenders who lose their money.
All the while any money he might have built up of his own is safe.

This is a quote from Trump himself - "“It’s called OPM. I do that all the time in business. It’s called other people’s money. There’s nothing like doing things with other people’s money. Because it takes the risk, you get a good chunk of it and it takes the risk."

TBF “other people’s money” isn’t a Trumpism — it’s commonly used slang that refers to leveraged investment. There isn’t a serious developer in the world that doesn’t use debt to fund their project and it makes perfect financial sense to do so.

What’s most telling about that quote is the way that Trump — with his typical hubris — tries to make it sound like it’s some canny strategy that he invented when, in fact, it is exactly how every large real estate project is financed.

(24-07-2021 21:10 )The Silent Majority Wrote:  All the while any money he might have built up of his own is safe.

He hasn't built up money of his own though, that's the point. Two of his outstanding debts are mortgages on Trump family properties. The Mar-a-Lago place in Florida where he currently resides has a $5m mortgage on it.

(24-07-2021 21:52 )4waydiablo Wrote:  He hasn't built up money of his own though, that's the point.

You should get in touch with the NY District Attorneys office. I'm sure they could use some help from someone with inside knowledge of Trumps finances...

(24-07-2021 12:44 )Tumble_Drier Wrote:  ^What's on the books and what he has hidden away are 2 very different things.

An interesting point as of course the Weisenbeger indictments indicate there were 2 sets of books
Investigations continue in New York into the habit it is claimed they had (Cohen revealed it when he was convicted) of inflating the valuation of property assets for the purpose of getting loans and then lowering them when it came to getting insurance and paying property taxes.

(24-07-2021 22:06 )The Silent Majority Wrote:  You should get in touch with the NY District Attorneys office. I'm sure they could use some help from someone with inside knowledge of Trumps finances...

The information on Trump's loans and mortgages is already a matter of public record. As President he was required to file an annual financial disclosure report which lays it all out, item by item, deal by deal.