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Wed Jan 26, 2022, 10:02 AM

Mr. Ected (9,635 posts)

Donald Trump has only $93 million in cash per Forbes report

The New York attorney general is investigating the former president for manipulating the value of his properties in ways that benefit him. It’s something we’re familiar with at Forbes, because Trump tried to mislead us about his financial information for decades. This is the first in a series of stories digging deeper into the numbers...

How much cash does Donald Trump have? He’s often said he has a lot. At times he’s said he had a little. Some say he’s flat broke.

Of the former president’s more than two dozen holdings, much of them tough-to-value real estate, his pile of cash and liquid assets should be the easiest to pin down—you just add up the balances on his account statements. But Trump doesn’t share those publicly, and his government financial disclosures only required him to list his cash and investments in broad, imprecise ranges. So, the exact size of Trump’s cash pile has always been something of a closely kept secret.

But filings released Tuesday by New York Attorney General Letitia James, as part of her civil investigation into the Trump Organization’s financial dealings, offer the clearest picture yet: Trump’s liquid assets stood at $93 million in 2020, according to the documents.

https://www.forbes.com/sites/chasewithorn/2022/01/24/how-much-cash-does-donald-trump-really-have/?cdlcid=5d1cdefb1802c8c52460ff6c&utm_campaign=dailydozen&utm_medium=email&utm_source=newsletter&sh=388e8d0873ed

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20 replies	Author	Time	Post
Donald Trump has only $93 million in cash per Forbes report (Original post)	Mr. Ected	Jan 2022	OP
93 million in cash is huge.	jimfields33	Jan 2022	#1
Just remember	PJMcK	Jan 2022	#9
Exactly.	Kingofalldems	Jan 2022	#13
Networth is different than cash holdings	fescuerescue	Jan 2022	#15
Of course they are	PJMcK	Jan 2022	#16
His father gave him 500 million and he had been in "business" all his life.	Maraya1969	Jan 2022	#17
And the way he squandered it puts the lie to his business "genius".	AngryOldDem	Jan 2022	#20
It's a good thing Melania has her own 50 million....	secondwind	Jan 2022	#2
She will need every penny of it..	ProudMNDemocrat	Jan 2022	#5
Almost $93 million more than I've got nt	TheFarseer	Jan 2022	#3
A "Billionaire" has $93 Million cash on hand?	ProudMNDemocrat	Jan 2022	#4
Gee, I wish I only had $93 million in liquid assets	dumbcat	Jan 2022	#6
Rich people finance varies a lot	Johnny2X2X	Jan 2022	#7
Did you read the article or the snippet?	Doc Sportello	Jan 2022	#11
I read it	Johnny2X2X	Jan 2022	#12
Real estate is worthless if you owe more than the equity.	Maraya1969	Jan 2022	#19
...	Crepuscular	Jan 2022	#14
Bankrolled the taxpayers of the US to boot	Bristlecone	Jan 2022	#8
This message was self-deleted by its author	Doc Sportello	Jan 2022	#10
Only 907 million more and he is a real billionaire.	pwb	Jan 2022	#18

Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:03 AM

jimfields33 (14,273 posts)

1. 93 million in cash is huge.

I love how the elites say “only”. Lol.

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Response to jimfields33 (Reply #1)

Wed Jan 26, 2022, 10:31 AM

PJMcK (20,868 posts)

9. Just remember

Trump claimed to be worth $10 BILLION. Forbes put him at around $2.5 BILLION.

If he has $93 MILLION, that's a far cry from even $1 BILLION.

Of course it's a lot of money. This just illustrates once again that Trump is full of shit.

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Response to PJMcK (Reply #9)

Wed Jan 26, 2022, 10:49 AM

Kingofalldems (37,696 posts)

13. Exactly.

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Response to PJMcK (Reply #9)

Wed Jan 26, 2022, 11:03 AM

fescuerescue (4,448 posts)

15. Networth is different than cash holdings

Networth is everything you own minus what you owe.

This is all on a different scale of course, but I know that Personal Finance (a wealth management company) recommends about 1% in cash.

So $10billion, with $93 million cash. That sounds -about- right (0.93%)

On the other hand, if he is worth "only" $2.5 billon, he is being foolish by maintain that level of cash.

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Response to fescuerescue (Reply #15)

Wed Jan 26, 2022, 11:11 AM

PJMcK (20,868 posts)

16. Of course they are

My point, poorly made, is that someone who claims to be $10 billion is going to have liquid assets exceeding $93 million.

Liquid assets, of course, can mean a lot of different things including cash on hand. Other assets that could easily be converted to cash on short notice can be considered liquid.

Trump 's business is a house of cards and he is nowhere near as rich as he projects. His operation seems to require huge amounts of cash flow in order to stay ahead of his massive debt servicing. Meanwhile, many of his hard assets and real estate have plummeted in value over the past 5 years.

He's really stupid.

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Response to jimfields33 (Reply #1)

Wed Jan 26, 2022, 11:26 AM

Maraya1969 (21,608 posts)

17. His father gave him 500 million and he had been in "business" all his life.

93 million is a relative "Only".

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Response to Maraya1969 (Reply #17)

Wed Jan 26, 2022, 11:32 AM

AngryOldDem (14,060 posts)

20. And the way he squandered it puts the lie to his business "genius".

I doubt he’s ever been worth $90 million.

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Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:06 AM

secondwind (16,903 posts)

2. It's a good thing Melania has her own 50 million....

TFG may not have much left after all the lawsuits are settled.

Perhaps Ivanka can lend him a dollar or two.

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Response to secondwind (Reply #2)

Wed Jan 26, 2022, 10:09 AM

ProudMNDemocrat (14,995 posts)

5. She will need every penny of it..

For the lifestyle she has become accustomed to. Must keep those "kidneys" functioning at all cost.

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Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:06 AM

TheFarseer (9,260 posts)

3. Almost $93 million more than I've got nt

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Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:07 AM

ProudMNDemocrat (14,995 posts)

4. A "Billionaire" has $93 Million cash on hand?

Does NOT make him a Billionaire. The math says so.

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Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:12 AM

dumbcat (2,105 posts)

6. Gee, I wish I only had $93 million in liquid assets

Then again, liquid assets are not the only form of financial wealth. And liquid assets are not necessarily "cash". I would bet very little of those liquid assets are held as "cash". The headline is misleading.

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Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:12 AM

Johnny2X2X (17,564 posts)

7. Rich people finance varies a lot

Some billionaires are more liquid, some use credit. Trump has some very valuable assets that he can borrow against if an opportunity arises. Trump's finances are not that atypical of rich people, they often have their net value wrapped up in hard to peg assets that can be manipulated to avoid paying taxes.

$93 Million liquid when you're worth $2 Billion doesn't mean a lot, could be good, could be bad depending on how their finances are usually structured. We know Trump is a fraud, but people waiting for him to go broke will be waiting a long time, he inherited too much valuable real estate to ever really go broke.

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Response to Johnny2X2X (Reply #7)

Wed Jan 26, 2022, 10:35 AM

Doc Sportello (7,272 posts)

11. Did you read the article or the snippet?

The article explains how his finances are structured and how he has tried to inflate his cash flow for decades. And several of the the "valuable" properties you claim are actually big money losers.

Quote:
"His brick-and-mortar real estate is struggling, his Washington, D.C., hotel is hemorrhaging money and his golf resorts in Scotland and Ireland, longtime money losers, remain in the red. Less than $100 million in cash wouldn’t leave much of a safety net for Trump, who had an estimated $738 million of debt coming due over the next three years as of October.debunks everything you said."

So $93M he has compared to the $738M he owes means that yes he will be effectively be broke, unless his sell-offs are worth more than expected or he just doesn't pay his debts, which he is known for.

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Response to Doc Sportello (Reply #11)

Wed Jan 26, 2022, 10:48 AM

Johnny2X2X (17,564 posts)

12. I read it

Trump still has a net worth over a billion dollars on the low side. He will never go broke. And some Russian oligarch would come to the rescue if he ever really had cash issues.

Trump is an expert at one thing, leveraging his assets and moving money around. He lives for free as everything in his life is paid for by his businesses. He's never going to go broke and he's never going to see the inside of a jail cell. Would love to see him lose some of his premier properties though.

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Response to Johnny2X2X (Reply #12)

Wed Jan 26, 2022, 11:29 AM

Maraya1969 (21,608 posts)

19. Real estate is worthless if you owe more than the equity.

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Response to Doc Sportello (Reply #11)

Wed Jan 26, 2022, 10:53 AM

Crepuscular (1,051 posts)

14. ...

The $738 million in debt is largely backed by real estate that is worth a lot more than the amount of debt on it. Most of those loans will be rolled over into new loans, so it's unlikely that he will need to use any of his liquid assets when those loans come due.

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Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 10:24 AM

Bristlecone (9,858 posts)

8. Bankrolled the taxpayers of the US to boot

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Response to Mr. Ected (Original post)

Doc Sportello This message was self-deleted by its author.

Response to Mr. Ected (Original post)

Wed Jan 26, 2022, 11:28 AM

pwb (10,442 posts)

18. Only 907 million more and he is a real billionaire.

.

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