12-13-2018, 05:23 PM
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Member since 1999
Industry Role:
Join Date: Dec 2007
Location: Off the Amalfi coast
Posts: 7,202
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Quote:
Originally Posted by Rochard
Yes.
It's stunning that people cannot see the truth. Trump is not a good businessman or a leader; He is a con man. Nearly every business he has ever started was run into the ground. In the process he screwed over the common man. We put a man into office with zero experience
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In 1982, Trump reported to New Jersey regulators a personal net worth of $321 million, built largely on his father’s connections, as well as loans and guarantees for bank credit. Two years later, a Trump lieutenant testified that his worth had not changed much. In 2004, in reviewing his application for a loan, Deutsche Bank concluded he was worth $788 million. Trump now makes the highly dubious claim that he is worth $10 billion; Forbes estimates that the real number is $3.7 billion. That’s a lot of money, to be sure, but suppose Trump had never done any deals and instead sold all of his assets back in 1982 and invested them in a fund based on the Standard & Poor’s 500 index. With dividends reinvested, he would have increased his wealth to $535 million by 1985. By 2004, his personal wealth would have increased to $5.9 billion. And three years ago in 2015, he would have exceeded what he claims to be worth now by more than $1 billion; today, he would be worth more than $13 billion, just under three times the Forbes estimate.
In other words, if the Republican nominee had done nothing but mow his lawn for the past 35 years, he would be a dramatically wealthier man than he is today. The huge bonus in that scenario: Thousands of people would not have been ridiculed, ripped off or otherwise have suffered from encounters with Donald J. Trump. |
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