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politics

Trump Lost Money Than Getting More During His Tenure As President of USA

RAMROD

The Trump Organization, run by sons Eric and Don Jr., was struggling with the devastating consequences of the Covid-19 pandemic even before their father incited a raid on Congress. Efforts to sell his Washington hotel were shelved, his office buildings were losing value amid a glut of space in Manhattan, and his golf courses were facing the reality that younger generations aren’t so interested.

Trump entered office worth $3 billion. Despite soaring stock prices and his own tax cuts, he will leave about $500 million poorer, according to the Bloomberg Billionaires Index.

His buildings are saddled with more than $1 billion in debt, most of it coming due in the next three years and more than a third of it personally guaranteed. Refinancing would mean finding lenders and corporations willing to work with history’s only twice-impeached ex-president.

Deutsche Bank AG, his longtime financier, won’t touch him anymore. Signature Bank, where his daughter Ivanka once served on the board, is closing his accounts. Cushman & Wakefield Plc, a broker for 40 Wall St., is cutting ties, and PGA of America is steering clear.

The 2022 PGA Championship was scheduled to be the first men's major held on a course owned by Trump.

According to Trump Golf's official website, the president now owns 19 golf courses worldwide—12 of which are located in the U.S.—but only two have hosted international events since he was elected president in 2016.

The money and exposure from hosting tournaments would have helped Trump's chances of reducing losses on his golf courses around the world. In September, a New York Times investigation into Trump's tax returns over the last two decades, showed the president reported a combined $315.6 million loss at his golf courses over the period.

The 2022 PGA Championship was scheduled to be the first men's major held on a course owned by Trump.

According to Trump Golf's official website, the president now owns 19 golf courses worldwide—12 of which are located in the U.S.—but only two have hosted international events since he was elected president in 2016.

The Trump National Golf Course in Washington, D.C. hosted the Senior PGA Championship in 2017—it had previously hosted the 2013 Junior PGA Championship—while the Trump National Golf Course in Bedminster, New Jersey, hosted the Women's U.S. Open in the same year after hosting the USGA Junior Amateur Championship in 2009 and the Met Open Championship in 2014.

The decision from the PGA of America and The R&A to distance themselves from Trump is the latest blow to a business that was already battling the tide from a financial standpoint.

Tournaments provide lucrative opportunities for those who host them, and yet only two of Trump's golf courses have hosted international events since he was elected president in 2016. The Trump National Golf Course in Washington, D.C. hosted the Senior PGA Championship in 2017—it had previously hosted the 2013 Junior PGA Championship—while the Trump National Golf Course in Bedminster, New Jersey, hosted the Women's U.S. Open in the same year after hosting the USGA Junior Amateur Championship in 2009 and the Met Open Championship in 2014.

The money and exposure from hosting tournaments would have helped Trump's chances of reducing losses on his golf courses around the world. In September, a New York Times investigation into Trump's tax returns over the last two decades, showed the president reported a combined $315.6 million loss at his golf courses over the period.

According to the report, Trump's three courses in Europe—Turnberry, Trump International Scotland and Trump International Golf Links & Hotel Ireland—have reported a combined $63.6 million in losses.

Since being purchased by Trump, Turnberry underwent major upgrades on course and facilities worth north of $150 million. However, according to the most recent annual report available, the course made $19 million in sales in 2018 but reported a loss of almost $1 million.

The picture was similarly dire for Trump National Doral in Miami, Florida, the largest golf resort in the president's portfolio, which had racked up $162.3 million worth of losses through to the end of 2018.

New York City itself wants nothing to do with Trump. Officials plan to end more than $17 million in contracts with the president’s family business, including a carousel and two ice skating rinks in Central Park and a Bronx golf course.

The man who made “America First” his catchphrase could now hunt overseas for partnerships and licensing deals.

During his presidency, Trump pledged that his businesses wouldn’t sign new deals in foreign countries, but it continued to collect income from licensing arrangements in Turkey, the Philippines and India. His administration developed close ties in the United Arab Emirates, where he’s previously done business, and Saudi Arabia, where his company considered projects before his ascent to the presidency.

 

Sources:

https://www.bloomberg.com/news/articles/2021-01-16/trump-s-shambolic-empire-faces-long-odds-for-one-more-comeback?utm_source=twitter&utm_content=tictoc&utm_medium=social&cmpid%3D=socialflow-twitter-tictoc&utm_campaign=socialflow-organic

 

https://www.newsweek.com/trump-losing-pga-championship-huge-blow-bid-stop-massive-golf-course-losses-1561543

 

All these facts attacking his massive ego, poor leadership, and businesses rn, karma is real :giggle:

Edited by RAMROD
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jimmytimestep

I mean we love to see it but the man is still worth 2.5 billion dollars and that is just soooo irritating to me

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Jill
7 minutes ago, jimmytimestep said:

I mean we love to see it but the man is still worth 2.5 billion dollars and that is just soooo irritating to me

$2.5 billion with a debt of $1 billion out of which more than a third is personally owed (meaning at least $300 million), which would put his fortune at approximately $2.2 billion, not taking into account the vast majority of this fortune must be counted in the form of property, stocks, and branding, and I believe a lot of other abstract assets. This is what we know, I personally don't think that $1 billion debt is nearly enough to pay the amount of damage he has done to countless investors. Not to mention, his tax returns could be very well fabricated in part, meaning he inflated his fortune to rank higher on Forbes, something that we know he tends to do and has already done in the past. Adding to all of this, his chances of great negotiations are getting slimmer :poot: so his future isn't bright.

Love Story at midnight 💛💛
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ALGAYDO
2 hours ago, jimmytimestep said:

I mean we love to see it but the man is still worth 2.5 billion dollars and that is just soooo irritating to me

“Worth” is such an elusive term, he has so much accumulated debt, plus all the legal stuff he’s about to be responsible to fund after he leaves the presidency... I really think this ugly ass clown is about to go bankrupt before he gets thrown in a prison cell where he rightfully belongs. And hello, let’s celebrate that!!  

Edited by ALGAYDO
Misspelling lol
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Hades
3 minutes ago, Jill said:

so his future isn't bright.

He's already a laughing stone, historically panned, wearing diapers and heading for the nursery (hopefully prison) forever home. It's definitely not as bright as his hair dye sis. :ally:

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Lady Papa

Donald Dumpster is over sweetie, queen Nancy the Impeacher is on the case

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Formerly known as LadyGoo
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ThisGuyTony

The great, amazing, self proclaimed businessman did that. :giveup:

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Bebe

While it’s easy to root for his downfall I worry about him being a martyr like figure. I don’t want Trump looked at as some hero who lost it all trying to fight against the elite.

This is why I think it’s important for the Republican Party to unite in the Senate and vote to convict. It’s important for them to pull together and work to control the narrative- conservative/right wing media will have to follow suit because otherwise they lose all power. 

Last thing I want is for the opportunity for this narrative to become “This hero billionaire entered politics, fought hard to ‘drain the swamp’ and ended up having the election stolen by the powerful elite and lost it all.”

That’s what will happen if Republicans continue to try and play both sides by trying to stay favourable to Trumps base while trying to keep moderates. Especially as Democrats cheer as they see Trump booted out of office, silenced on Twitter and losing his money.

Trump’s base have a very different idea about what’s going on at the moment.

While it is important that social media companies take responsibility for moderating the content that is on their platforms, it is important that Trump faces consequences for his attempted coup and assault against democracy and I don’t shed any tears at the thought of Trump broke and in prison there needs to be a strong, united condemnation and a consistent, bipartisan narrative.

There needs to be strong condemnation from the Republican Party, they must vote to convict, Democrats should also put aside the easy political wins and stray away from “They all covered for this man for 4 years” (even though they did) and focus on bipartisanship in the sense of “We all agree Democracy must be protected, we all value Democratic institutions and we will all move forward to strengthen and protect our democracy and find ways to prevent misinformation and dangerous propaganda from spreading ”.

If the Republicans let his actions slide they allow an alternative narrative from his base to form.

I don’t want a smarter, more strategic far right figure in 2024 talking about stolen elections, power to the people, how the corrupt elite destroyed Trump and how they will not give up and will take the country back... but if right wing politicians and right wing media don’t work to take control of the narrative now I fear that enough people will believe that. If simultaneously Democrats are celebrating Trump getting banned from the internet so he has no platform to speak, plotting to impeach so he can’t run for office again, banks stop loaning to Trump so he loses his fortune and Democratic states are looking to prosecute him and throw him in jail... That’s a dangerous mix.

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jimmytimestep
43 minutes ago, Jill said:

$2.5 billion with a debt of $1 billion out of which more than a third is personally owed (meaning at least $300 million), which would put his fortune at approximately $2.2 billion, not taking into account the vast majority of this fortune must be counted in the form of property, stocks, and branding, and I believe a lot of other abstract assets. This is what we know, I personally don't think that $1 billion debt is nearly enough to pay the amount of damage he has done to countless investors. Not to mention, his tax returns could be very well fabricated in part, meaning he inflated his fortune to rank higher on Forbes, something that we know he tends to do and has already done in the past. Adding to all of this, his chances of great negotiations are getting slimmer :poot: so his future isn't bright.

 

42 minutes ago, ALGAYDO said:

“Worth” is such an elusive term, he has so much accumulated debt, plus all the legal stuff he’s about to be responsible to fund after he leaves the presidency... I really think this ugly ass clown is about to go bankrupt before he gets thrown in a prison sell where he rightfully belongs. And hello, let’s celebrate that!!  

Y’all really turned this around for me and I love you for it

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PunkTheFunk
24 minutes ago, Bebe said:

While it’s easy to root for his downfall I worry about him being a martyr like figure. I don’t want Trump looked at as some hero who lost it all trying to fight against the elite.

This is why I think it’s important for the Republican Party to unite in the Senate and vote to convict. It’s important for them to pull together and work to control the narrative- conservative/right wing media will have to follow suit because otherwise they lose all power. 

Last thing I want is for the opportunity for this narrative to become “This hero billionaire entered politics, fought hard to ‘drain the swamp’ and ended up having the election stolen by the powerful elite and lost it all.”

This is already the narrative unfortunately. My Trump supporting aunt who lives in the States posts pictures of Trump looking solemn with captions like "We don't know what this man is going through everyday to protect our country from the elites!!!" and everyone in the comments is like "Agreed!! God bless him :heart:"  :triggered: And this was AFTER he lost the election :triggered:

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Bebe
4 minutes ago, PunkTheFunk said:

This is already the narrative unfortunately. My Trump supporting aunt who lives in the States posts pictures of Trump looking solemn with captions like "We don't know what this man is going through everyday to protect our country from the elites!!!" and everyone in the comments is like "Agreed!! God bless him :heart:"  :triggered: And this was AFTER he lost the election :triggered:

Yeah.. :neyde:

It's going to be difficult to undo all of that and to un-brainwash people. The response to Trump's actions need to strike the right balance between ensuring there are serious consequences for his seditious conspiracy and assaults on democracy while ensuring the right tone is set and a bi-partisan narrative is promoted. 

The Republican party created a monster and the main responsibility falls on them to try and get things back into control, I also don't think Democrats should back down in ensuring Trump is held accountable. I just hope Republicans will actually use the opportunity cut Trump loose and take back control of their narrative and that Democrats will treat this with a sombre tone and urge Democratic voters not to cheer for his downfall.

It is a sad situation, not because Trump is a sympathetic character, because a United States president failed to concede an election, incited a mob to attempt to overturn the election and successfully worked to erode trust in U.S democracy and it's institutions.

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myluis617

Didnt stop republicans from trying to sway public funds into Trump golf courses. 

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Lion Heart

He'll be having book deals about how he fought "The Deep State" and go on speaking tours and make money that way. Hes not going away anytime soon.

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ALGAYDO
1 hour ago, PunkTheFunk said:

This is already the narrative unfortunately. My Trump supporting aunt who lives in the States posts pictures of Trump looking solemn with captions like "We don't know what this man is going through everyday to protect our country from the elites!!!" and everyone in the comments is like "Agreed!! God bless him :heart:"  :triggered: And this was AFTER he lost the election :triggered:

Educate your aunt! Expose her to the reality of things! And if she still sides with Trump, there’s plenty of mental-stabilization organizations that would LOVE to be friends with her! :hug:

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PunkTheFunk
23 minutes ago, ALGAYDO said:

Educate your aunt! Expose her to the reality of things! And if she still sides with Trump, there’s plenty of mental-stabilization organizations that would LOVE to be friends with her! :hug:

She is too far gone and it's not worth my time. Sweet lady, but completely brainwashed. :triggered:

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