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Is there any truth behind Trump being 650 million in debt?
probably.... but being in debt doesn't mean you have negative net worth
He's still a shit business man for being that much in debt. The average business man would be far richer than Trump if he had the same parents as Trump. He's an idiot with too much money to cushion is failures.
Pretty much. If Trump hadn't inherited all that wealth he wouldn't have succeeded even remotely as much.
like Im supposed to care
Yes, he buys real estate with borrowed money, pays it back over time, writes off capital losses against capital gains, pays little to no taxes, and other big boy pastimes.
What's your point?
do you think anyone has 600m in cash to build a skyscraper?
>how does real estate work???
OP confirmed for idiot who's never bought property.
The US is 20 trillion in debt.
idk but that means nothing without more info
just curious: would you pay for a house all at once in cash if you could?
>He's still a shit business man for being that much in debt
wrong, most people with assets like trump are in debt. business men float deals, that's called investment; they dont hoard cash like the cartoons you have in your head
>The average business man would be far richer than Trump if he had the same parents as Trump
>i-if other people were trump theyd be successful too ! wait, but trump isnt successful though !
You know nothing about business
That depends on the amount of cash you have on hand, and the status of your balance sheet overall.
Yeah. He's been playing a financial shell game since the 70s. He fucked up bigly back in the 90s, when Atlantic City went bust, and it bit him in the ass hard because he'd given personal guarantees for a lot of his loans.
But this isn't abnormal for the real estate development biz. Big projects incur big debt. The usual practice is to put those projects in the hands of shell companies, that then sell condos or whatever off to investors who wish anonymity. If that company eats shit after everything is sold, and there's still debt left, you buy it up for a buck with another shell company, and fold the debt there. You basically move debt around various shell companies, trying to keep one step ahead of getting fucked.
>Investigation by The New York Times
Fuck off
Oh yeah and I forgot to mention that the feds started a bigass crackdown on this practice this year, but I'm guessing that crackdown is winding down right about now.
Every large property owner carries tons of debt. Its how they increase their wealth quickly, by leveraging low interest rates,
Fuck off shill
sage
No fuck you you ctr shill.
>wrong, most people with assets like trump are in debt
top kek, I don't think you'll find a single person in the forbes 400 who is as overleveraged as Trump is.
Whatever, Julius Caesar was neck high in debt for his entire life
Nothing like having a bunch of jews following you around to make you think fast
>i shill for a cheeto coloured millionaire online
>i do it for free!
kill yourself
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Is anybody here an actual user? I am pretty sure in this moment 80% of threads are shills talking to shills.
So cute when shills reply to each other
Its glorious watching the machines train by shilling against each other
His wife wears a million dollar wedding ring.
He lives in the penthouse of a 60 floor building that he owns in one of the most valuable real-estate areas of the world
He shits in a gold toilet
He owns a custom jumbo jet
what a poorfag
It's like saying "omg the Clintons have a mortgage. They owe that money and therefor answer the lender!!"
If you own a $100k house with a $50k that's fine. If you own a $10m house with a $5m mortgage that's fine. Having more debt doesn't mean that you are a worse business person... its most likely a sign you have more assets (which are partly financed by debt).
Having a $100k house with a $5m mortgage is the problem...