Trump Family Business Worth A Fraction Of What President Has Touted

It's clear Trump has something to hide.
Why has Trump refused to release his financial records? Would he continue to refuse if he was proud of it?
 
blackascoal said:
Donald Trump has an inflated view of his assets. The president’s family business is worth about one-tenth of the value he has claimed, according to an analysis of the latest figures he has filed with the federal government.

Some of the discrepancy is due to a downturn in business, but the rest is credited to an overheated imagination, according to Crain’s New York Business reporter Aaron Elstein, who examined the numbers.

Elstein told NPR he feels a bit like he was played.

In 2016 the Trump Organization reported nearly $9.5 billion in revenues. But recent public filings by the president indicate that the company actually earned only as much as $700 million that year, Crain’s said.

Crain’s determined that Trump has been reporting inflated revenue since at least 2010. After examining the latest figures Trump has filed, Crain’s this month bounced the Trump Organization from the No. 3 spot on its list of largest privately held New York City companies down to No. 40.

“It was obviously very important to Donald to have his company on the top of the list ... but the numbers that he presented are just flagrantly untrue,” Elstein told NPR. Crain’s said the $9.5 billion in revenue looks “preposterous in light of federal filings made by the president in the past year.”

Trump’s properties aren’t doing so well, even though it’s “halcyon days” for real estate developers, according to Crain’s. Not only are the Trump Organization’s plans to develop a Soho hotel in Manhattan dead in the water, but “prices are slumping for condos at Trump Tower and the Trump International Hotel and Tower,” Crain’s said.

The average price per square foot for condos at Trump Tower has fallen by 23 percent since 2015, The Wall Street Journal reported, while prices at other midtown developments have remained steady. At Trump’s International Hotel and Tower on Central Park, the average price per square foot is down 24 percent.

And revenue is are down on the Trump Golf Links at Ferry Point in the Bronx, falling by more than $1.1 million in the past two years, to $5.7 million, Crain’s reported.

Trump also toppled on another list, down an astonishing 92 places (to No. 248), in Forbes’ rankings of richest men in America. But Trump remains a billionaire on the Forbes list, where he clocks in at $3.1 billion in total assets. He also took a dive on Bloomberg’s Billionaires’ list, but is credited with still having a total $2.9 billion in assets, as far as Bloomberg’s knows.

In 2015 Trump boasted: “My massive net worth is in excess of $10 billion.”
https://www.huffingtonpost.com/entr...a53e4b045cf4371dfde?ncid=inblnkushpmg00000009
Click to expand...
I bet his debt is the interesting thing!
 
sear said:
It's clear Trump has something to hide.
Why has Trump refused to release his financial records? Would he continue to refuse if he was proud of it?
Click to expand...

My theory on the tax returns is that he gives almost nothing to charity. I think that would be the embarrassing revelation.

If there is Russia stuff, I'd guess that is well hidden.
 
Thing1 said:
My theory on the tax returns is that he gives almost nothing to charity. I think that would be the embarrassing revelation.

If there is Russia stuff, I'd guess that is well hidden.
Click to expand...
Forensic accounts found unbelievable stuff. I bet Mueller has a few of them on the team.
 
T1 #26

Trump is a world-class deflector.
I don't doubt if it was the charity thing alone he could counter with all the times he hands a drunken bum an orange on the street.

Nope.
Ockham's Razor.
Trump's not as rich as he wants us to think.
And I gather he's highly leveraged, so though he may control massive assets, he may actually only have 10% equity.

AND
if much of that, probably too difficult to $liquidate. So it remains wealth on paper.

Trump is ruled by his outsized ego. But Mr. superlative is long on braggadocio, and short on breadth.
When was the most recent time you recall Trump quoting Shakespeare, or Longfellow, recounting an historic precedent, etc.?
 
sear said:
It's clear Trump has something to hide.
Why has Trump refused to release his financial records? Would he continue to refuse if he was proud of it?
Click to expand...

The IRS has Trump's financial records. I don't blame him for not releasing them to the public. Why give leftist loons more ammunition? Stick to the important stuff, you know, like ketchup and ice cream. ;)
 
countryboy said:
The IRS has Trump's financial records. I don't blame him for not releasing them to the public. Why give leftist loons more ammunition? Stick to the important stuff, you know, like ketchup and ice cream. ;)
Click to expand...

so you think we shoud know nothing about a presidents financial attachments?


how can you be so stupid
 
blackascoal said:
Donald Trump has an inflated view of his assets. The president’s family business is worth about one-tenth of the value he has claimed, according to an analysis of the latest figures he has filed with the federal government.

Some of the discrepancy is due to a downturn in business, but the rest is credited to an overheated imagination, according to Crain’s New York Business reporter Aaron Elstein, who examined the numbers.

Elstein told NPR he feels a bit like he was played.

In 2016 the Trump Organization reported nearly $9.5 billion in revenues. But recent public filings by the president indicate that the company actually earned only as much as $700 million that year, Crain’s said.

Crain’s determined that Trump has been reporting inflated revenue since at least 2010. After examining the latest figures Trump has filed, Crain’s this month bounced the Trump Organization from the No. 3 spot on its list of largest privately held New York City companies down to No. 40.

“It was obviously very important to Donald to have his company on the top of the list ... but the numbers that he presented are just flagrantly untrue,” Elstein told NPR. Crain’s said the $9.5 billion in revenue looks “preposterous in light of federal filings made by the president in the past year.”

Trump’s properties aren’t doing so well, even though it’s “halcyon days” for real estate developers, according to Crain’s. Not only are the Trump Organization’s plans to develop a Soho hotel in Manhattan dead in the water, but “prices are slumping for condos at Trump Tower and the Trump International Hotel and Tower,” Crain’s said.

The average price per square foot for condos at Trump Tower has fallen by 23 percent since 2015, The Wall Street Journal reported, while prices at other midtown developments have remained steady. At Trump’s International Hotel and Tower on Central Park, the average price per square foot is down 24 percent.

And revenue is are down on the Trump Golf Links at Ferry Point in the Bronx, falling by more than $1.1 million in the past two years, to $5.7 million, Crain’s reported.

Trump also toppled on another list, down an astonishing 92 places (to No. 248), in Forbes’ rankings of richest men in America. But Trump remains a billionaire on the Forbes list, where he clocks in at $3.1 billion in total assets. He also took a dive on Bloomberg’s Billionaires’ list, but is credited with still having a total $2.9 billion in assets, as far as Bloomberg’s knows.

In 2015 Trump boasted: “My massive net worth is in excess of $10 billion.”
https://www.huffingtonpost.com/entr...a53e4b045cf4371dfde?ncid=inblnkushpmg00000009
Click to expand...

The Donald lied? Now who could have ever imagined such a thing?
I wonder if he also inflated the size of his.... hands.
 
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