Lucky Loser: How Donald Trump Squandered His Father's Fortune and Created the Illusion of Success

[Stalin]

It's all here - how the 24 carat fake conned 77 million gullible citizens

"...Soon after announcing his first campaign for the U.S. presidency, Donald J. Trump told a national television audience that life “has not been easy for me. It has not been easy for me.” Building on a narrative he had been telling for decades, he spun a hardscrabble fable of how he parlayed a small loan from his father into a multibillion-dollar business and real estate empire. This feat, he argued, made him singularly qualified to lead the country. Except none of it was true. As his wealthy father’s chosen successor, Trump received the equivalent today of more than $500 million in family money. He collected a second windfall thanks to Mark Burnett, the revolutionary television producer who made Trump a star. In truth, Trump’s empire was underwritten, and at times saved, by the equivalent of more than $1 billion that came his way without any of the business expertise he claimed.

Drawing on more than twenty years’ worth of Trump’s confidential tax information, including the tax returns he tried to conceal, alongside business records and interviews with Trump insiders, New York Times investigative reporters Russ Buettner and Susanne Craig track Trump’s financial rise and fall, and rise and fall again. A masterpiece of narrative reporting, Lucky Loser is a meticulous examination spanning nearly a century, filled with scoops from Trump Tower, Mar-a-Lago, Atlantic City, and the set of The Apprentice. Here for the first time is the definitive true accounting of Trump and his money—what he had, what he lost, and what he has left—and the myth of Trump, the self-made billionaire, exposed.

Amazon.com

comrade stalin
moscow

 

[Stalin]

ibid

The authors detail their credible sources which make it clear the staggering amounts of money that set supporting floors for his over-reaching bad real estate and business decisions. It was far far more than the $1 million he admits to. He did have many business failures, many defaults on large bank loans acquired based on the good credit and faith of his father's reputation but accepted at unaffordable interest rates or even worse, underpinned with even higher junk bond rates.

His decisions early in his career are typified by impulsive poor judgement that quickly led to becoming overextended. His large scale very expensive failures however extended to more recent era where for example his DC hotel required divestiture due to excessive renovation costs in a market that experts knew would not be able to support the planned rates.

Gradually it becomes clear that his strength was in obtaining financing, using the acquired wealth and reputation from his father to underwrite his loans. No other technical expertise is apparent - he was not a civil engineer, not an architect, never earned an MBA. Any and all of his building were actually build by construction firms that had those areas of expertise.

Likewise there is no evidence of any depth of formal planning and use of project control mechanisms. Apparently these were always informal or spur of the moment. One aspect of his methodology that he also acquired from his father and used extensively for tax evasion and intimidation was his frequent use of litigation as legal costs were inconsequential for him. The descriptions of both his and his father's business methods clearly indicate how important tax evasion was to both of them

comrade stalin
moscow

 

[mark francis]

It's all here - how the 24 carat fake conned 77 million gullible citizens

"...Soon after announcing his first campaign for the U.S. presidency, Donald J. Trump told a national television audience that life “has not been easy for me. It has not been easy for me.” Building on a narrative he had been telling for decades, he spun a hardscrabble fable of how he parlayed a small loan from his father into a multibillion-dollar business and real estate empire. This feat, he argued, made him singularly qualified to lead the country. Except none of it was true. As his wealthy father’s chosen successor, Trump received the equivalent today of more than $500 million in family money. He collected a second windfall thanks to Mark Burnett, the revolutionary television producer who made Trump a star. In truth, Trump’s empire was underwritten, and at times saved, by the equivalent of more than $1 billion that came his way without any of the business expertise he claimed.

Drawing on more than twenty years’ worth of Trump’s confidential tax information, including the tax returns he tried to conceal, alongside business records and interviews with Trump insiders, New York Times investigative reporters Russ Buettner and Susanne Craig track Trump’s financial rise and fall, and rise and fall again. A masterpiece of narrative reporting, Lucky Loser is a meticulous examination spanning nearly a century, filled with scoops from Trump Tower, Mar-a-Lago, Atlantic City, and the set of The Apprentice. Here for the first time is the definitive true accounting of Trump and his money—what he had, what he lost, and what he has left—and the myth of Trump, the self-made billionaire, exposed.

Amazon.com

comrade stalin
moscow

I don't think Trump was ever in as bad financial shape as the Clintons were when they left the White House before Epstein stepped in to give them millions of dollars and help them set up the Clinton Foundation.

Jeffrey Epstein Helped Start the Clinton Foundation, Maxwell Says | Headline USA

(Ken Silva, Headline USA) Convicted sex trafficker Ghislaine Maxwell told the Justice Department last month that she and her accomplice, Jeffrey Epstein, helped start the Clinton Global Initiative—the conduit allegedly used by Hillary Clinton to trade political favors for monetary donations...

headlineusa.com

Jeffrey Epstein Helped Start the Clinton Foundation, Maxwell Says