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DemocratSinceBirth

(99,710 posts)
Sat Jun 17, 2017, 03:05 PM Jun 2017

If you have $1 billion in assets &undisclosed hundreds of millions in debts you're not a billionaire





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David Frum Retweeted John Podhoretz
If you have $1 billion in assets and undisclosed hundreds of millions in debts … you’re not a billionaire. Maybe you’re not even solvent.

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If you have $1 billion in assets &undisclosed hundreds of millions in debts you're not a billionaire (Original Post) DemocratSinceBirth Jun 2017 OP
Mark Cuban implied trumps wealth was smoke and mirrors beachbum bob Jun 2017 #1
Income isn't wealth so we wouldn't know how wealthy he is even if we had his taxes. DemocratSinceBirth Jun 2017 #3
That depends on how leveraged he is Spider Jerusalem Jun 2017 #4
Doesn't Forbes take his liabilities into account ? DemocratSinceBirth Jun 2017 #5
They aren't always as public as assets localroger Jun 2017 #6
Forbes relies on all available data marylandblue Jun 2017 #10
How much is smoke going for these days? I might want to invest. dixiegrrrrl Jun 2017 #9
Bloomberg said the same thing... HipChick Jun 2017 #11
It's at least half a billion in debt, and that Ilsa Jun 2017 #2
Not to mention the volatility of real estate TexasBushwhacker Jun 2017 #7
Just vacationed in Palm Beach and literally laughed out loud when I saw patricia92243 Jun 2017 #12
Which one? Are you talking about maralago? Because Ilsa Jun 2017 #14
Not maralago. Highrise that was not very high and Trump name on it. patricia92243 Jun 2017 #15
There's a trump plaza near royal park bridge. Ilsa Jun 2017 #16
Expensive properties have to updated Ilsa Jun 2017 #13
This primarily lists his family companies. duncang Jun 2017 #8
 

Spider Jerusalem

(21,786 posts)
4. That depends on how leveraged he is
Sat Jun 17, 2017, 03:15 PM
Jun 2017

he may have a lot of assets, but if they've all been used to secure loans?

localroger

(3,626 posts)
6. They aren't always as public as assets
Sat Jun 17, 2017, 04:27 PM
Jun 2017

If you sign a contract in a closed room and don't tell anyone, only you and your creditor know the debt exists. I think it is very likely Donny Two-Scoops is up over his eyeballs in such obligations and I'm probably richer than he is.

marylandblue

(12,344 posts)
10. Forbes relies on all available data
Sat Jun 17, 2017, 05:17 PM
Jun 2017

But often they have to estimate. They could be way off on many people, but only Trump has bothered to dispute their estimate.

Ilsa

(61,695 posts)
2. It's at least half a billion in debt, and that
Sat Jun 17, 2017, 03:07 PM
Jun 2017

was just to the banks and investment companies we know about.

TexasBushwhacker

(20,190 posts)
7. Not to mention the volatility of real estate
Sat Jun 17, 2017, 04:53 PM
Jun 2017

and the erosion of his "brand". What's a half empty high rise or hotel really worth? Only as much as those units can be sold/booked for.

It makes me think of the hedge funder that commited suicide recently. He had been trying to unload his townhouse for YEARS. He bought it for $33 Million in 2007. Then tried to sell it for $49 M, then dropped the price to $39 M and now it's at $36.5 M. No takers. When his wife had an accident in her Honda Odyssey mom-mobile, they didn't even have the cash to get it fixed.

patricia92243

(12,595 posts)
12. Just vacationed in Palm Beach and literally laughed out loud when I saw
Sat Jun 17, 2017, 05:45 PM
Jun 2017

the Trump hotel. It is dinky compared to the building around it.

Ilsa

(61,695 posts)
14. Which one? Are you talking about maralago? Because
Sat Jun 17, 2017, 09:07 PM
Jun 2017

the google maps street view of it is awful. Excluding the shadows caused by the car windows, you can see black mold on the exterior of the stucco. Gross.

patricia92243

(12,595 posts)
15. Not maralago. Highrise that was not very high and Trump name on it.
Sat Jun 17, 2017, 09:12 PM
Jun 2017

I can't remember if it said Trump Hotel or Trump Tower or what. But, it was definitely Trump. We were crossing some sort of bridge and there were all these big fancy building and then Trumps dinky little thing. I was truly shocked.

Ilsa

(61,695 posts)
13. Expensive properties have to updated
Sat Jun 17, 2017, 09:03 PM
Jun 2017

every few years. Decor gets stale, furniture, paint jobs, even technology get "old" and need updating, as do menus, etc. It doesn't take long for a 5 star to slip to 3 if these things aren't constantly maintained.

I realize he may not be the owner for a lot of them, but like you said, if the brand slips, it's on him.

duncang

(1,907 posts)
8. This primarily lists his family companies.
Sat Jun 17, 2017, 04:59 PM
Jun 2017

Which I'm pretty sure his kids have interest in. So personally he probably doesn't have even a billion in assets.

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