How bleak are Trump's finances?

in #trump21 days ago


Of all the info in the NYT articles, this image is the most astonishing.

Trump has made over $400 million off The Apprentice and endorsements that followed it. He also made some good money off investments (as opposed to businesses that he managed).

He plowed those profits into golf courses and other businesses...and it's been a disaster. By 2007, his losses from businesses he owned exceeded the profits from profitable ones. But it kept getting worse.

By 2012 or so, his losses from managed businesses wiped out not only his profitable ones, but the waning income from endorsements and investments.

Since then, he has been losing 10, 20, even $50 million a year. He has sold off stocks to cover some of the losses, taken on huge debt, and running on borrowed time.

In the next few years, he faces hundreds of millions in loans coming due, and perhaps an additional $100 million to be paid to the IRS. The properties he owns are, by and large, bleeding huge amounts of cash. And this year sure isn't better, as hotel and recreation businesses are slammed by an out of control pandemic.

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