Trump Organization worth one tenth of value previously reported

[Judi Lynn]

Source: Independent


Trump Organization falls 37 places in ranking of largest privately held companies in New York
Samuel Osborne 
@SamuelOsborne93 
3 hours ago

The Trump Organization in New York is reportedly worth one tenth of the value it previously claimed.

Donald Trump's family business had previously ranked near the top of Crain's New York Business' list of largest privately held companies.

But this year it's fallen from number three to number 40 after the President disclosed the organisation's revenue to federal regulators.

While the Trump Organization claimed $9.5bn (£7.2bn) in sales last year, Mr Trump's public filings suggest revenues of less than a tenth of that amount, between $600m (£450m) and $700m (£530m).



Read more: http://www.independent.co.uk/news/world/americas/us-politics/trump-organization-value-down-revenue-sales-new-york-us-president-donald-trump-family-business-a8058236.html

[Zambero]

1. And heavily mortgaged with a lousy credit rating

"sad"

[Achilleaze]

5. His russian comrades are very generous with credit (heh heh)

The love having a republican sucker on the line to do their bidding against America.

[Larrybanal]

9. fortunately

the trump family is able to funnel huge amounts of money from foreign governments trying to curry favor with our dotard

[Achilleaze]

2. You mean he* was lying to us?

As always. He is so lucky, in a misbegotten way, that republicans go submissive before him, actually believe him, and think he is an appropriate "republican family values" role model for their children and grandchildren. Tragic.

* Comrade Casino, repubican Draft-Dodger-in-Chief

[lark]

3. Every single damn thing he says or puts in writing is a lie.

Every.single.thing. No exceptions.

Hate, lies, greed, meanness, racism are all he has inside him, there is nothing good, only bad.

[underpants]

8. TEN BILLION DOLLARS

I could find it if I need to but he had a financial filing during the campaign in which he claimed to be worth $10B and they actually capitalized it.

[Bradical79]

15. Maybe he counted laundered money -nt

[Kolesar]

28. And every ruble he found in the seat cushions...eom

[yallerdawg]

4. What a loser!

10% of valuation claimed?

THIS is what his policies will do to America - this is his particular set of skills and experience, right?

[groundloop]

10. We certainly don't need a "leader" who went through bankruptcy 6 times

WHAT A LOSER !!!!!

[Merlot]

6. Told ya so!!!

When he started running for president I concluded that it wa a last ditch effort because he had no money and no where to turn, being already hevily indebted to the russian banks. I doubt if filing BK will work with them, like he usually does. He can't walk away from the disaster that is his "business."

[Eugene]

7. A little "truthful hyperbole" never hurts in real estate.

So they tell us.

[Mr.Bill]

17. Yeah, like when I sold my house on a dead-end street

and my Realtor called it a cul-de-sac in the ad.

[SergeStorms]

20. 'Dead End' is no longer acceptable.

The politically correct nomenclature is, "Outlet Challenged". Please get with the program.

[dixiegrrrrl]

31. LOL.....

[MoonchildCA]

32. I dont know, but...

“No through traffic” sound like a plus to me.

[Mr.Bill]

33. True, but it wasn't

the suburban cul-de-sac you envision. There were 16 houses on the street.

[PearliePoo2]

11. Since he hasn't delivered on his end of lifting the sanctions, I'm wishin' and hopin'...

Vlad has had ENOUGH and calls in the mob loans. (Oh and release the tapes too...double whammy!)


I want to see this 'White House Poser' penniless, with a prison buzz-cut and his fat, flaccid ass in orange.

[SergeStorms]

21. Along with the rest of....

the Trump crime family. Every damned one of them in prison!

[democratisphere]

12. At least drumpf is a consistent liar.

Everything he says and does is an overblown lie.

[sarcasmo]

13. Only in his feeble mind is Donnie a billionaire.

[benld74]

14. So much for his fantastic business acumen

[ProfessorGAC]

16. Been Saying That For More Than A Year

Right here on DU. Check past posts. Even Forbes, no friend of liberals, strongly questioned the net worth reported. And i believe they still grossly overstated it.

His wealth is a lie, and given what "it" inherited, is proof he's one of the least successful business people in the country.

[Moral Compass]

18. Expenses VS Sales

Not only did he puff up his revenues, but when expenses are deducted my operating theory is that he’s broke.

I believe that one of his primary motivations in running for President is that the whole edifice was about to crash to the ground ala Enron/Worldcom and this was a way to incent the Russians (and others) to keep the money flowing.

This means that he has every incentive to start a war so that the truth won’t come out. He isn’t just running ahead of the Russia collusion investigation but ahead of financial collapse.

This may end up being the biggest con of all time.

[smirkymonkey]

30. +1000

I think you may be right. I can hardly wait until we get to the end of this story. In the meantime, it is excruciatingly frustrating and painful.

[bullwinkle428]

19. Countdown to the hysterical tweets screaming "FAKE NEWS!!!1!"

[SergeStorms]

22. Remember this when he describes....

the size of his "hands". He only has 10% of what he claims. A mushroom cap, at best.

[UCmeNdc]

23. Trump is almost broke...... With his exposure if he makes a mistake he will go down in flames.

[Enoki33]

24. Many of his golf clubs have been running at a loss and the actual

property valuation he arbitrarily assigned “depending on how l feel” were way above market value. For certain they were not supported by income. Without Putin he would now be in bankruptcy. The real question is what has he be selling to Putin ? The stench of espionage is nauseating.

[barbtries]

25. as seen on twitter,

he's a billionaire in debt only.

[Motley13]

26. He is preparing to file his taxes

[Wellstone ruled]

27. With a bit of experience of

how the Tax Code works with regards to Real Estate. One can if they want to,abuse the boundaries when it comes to Valuations of Land and Improvements,after all,when it comes to Property Appraisal,it is subjective guess by the person doing the Appraisal.

From what Trumps Criminal Enterprise appears to be is this,a Ponzie . My guess is,his whole scheme is under water or one the edge. Considering the known sources of his Financing,appears doubtful he can service his debt. Notice to that Kushner Family operates the same style of operations. And we see they can not service their debt.

[jmowreader]

29. Lets call it Creative Valuation of Real Property

Example: his Chicago tower. According to its Wiki page, building it cost $847 million. Let’s round up to $850 million.

Under CVRP, he counts the entire $850MM as net worth.

Reality is different. Part of the building is condominiums so that part isn’t his, and all of it is mortgaged to the hilt because Trump is the all-time king of Creative Uses of OPM. The only thing more tightly guarded than Trump’s tax return is his ledger, but there’s an excellent chance that he’s about $300MM in the hole on that project alone.

Reality time: there is a very good chance that once you winnow through all Trump’s fiscal liabilities, Donald Trump is actually the poorest man to ever hold the office of president.