On Tuesday, President Donald Trump complained at a campaign stop at a Pennsylvania petrochemical factory that the presidency is costing him a “fortune” — possibly as much as $5 billion.
In conversation with CNN’s Erin Burnett, “Forbes 400” list creator and financial journalist Jonathan Greenberg shot down his lie.
“The president says it’s costing me from $3 to $5 billion, does that claim add up?” asked Burnett.
“No, it doesn’t add up,” said Greenberg. “I mean, Donald Trump has never been worth $3 to $5 billion.”
“So the bottom line is he doesn’t have that much to begin with,” said Burnett. “Then the second part is, I’m losing money, right? I’m losing money because I’m president. Does that add up?”
“No, he’s losing money and he is making money,” said Greenberg. “He’s losing money partly because he is a very bad businessman. He brought the Doral Hotel for example, it’s bigger than his next 10 clubs put together. It loses money because he is a terrible manager and people don’t want to stay at his golf clubs. He’s losing money on luxury apartment buildings because the money launderers, the Russian and drug money cartels don’t want to invest with him because he’s more high profile. He makes money from Mar-a-Lago where he doubled the entrance fees, and he’s making money at the Trump International Hotel in Washington.”
“So, there is a negative, but the positive, you’re saying, overall outweighs,” said Burnett.
“And the legal fees he’s speaking about,” added Greenberg. “Legal fees, they might be $5 million for a case for the — for some of the cases he is talking about. He is talking about $5 billion. That’s 1,000 times that much. And most legal fees are related to criminal activities he has engaged in or suspected of, such as Trump University and his foundation where he took money from them. So those are most of his legal fees.”
He’s trying ‘to get under Trump’s skin’: Reporter Olivia Nuzzi outlines Joe Walsh’s impact on 2020
Republican strategist Shermichael Singleton explained during an MSNBC panel discussion that former Rep. Joe Walsh isn't likely to peel away many voters from Trump as someone who is "Trump-light." New York Magazine reporter Olivia Nuzzi, however, thinks Walsh with have a more significant impact, whether or not he can win the primary race.
During a CNN panel discussion, Nuzzi similarly noted that Walsh's primary purpose could be to troll the president.
Boris Johnson ‘tremendously humiliated’ Donald Trump on a global scale at G-7 meeting: CNN analyst
United Kingdom Prime Minister Boris Johnson was one of President Donald Trump's favorite people to take over for Theresa May when she resigned this summer. But Johnson also mocked the U.S. president and humiliated him on a global scale, said New York Magazine reporter Olivia Nuzzi.
During a panel discussion on CNN Sunday, CNN's Ryan Lizza opened by saying that Johnson is in a tight spot as he's trying to negotiate Brexit while serving as an international leader to the G-7. Johnson also needs to negotiate a trade deal with Trump, but he clearly is going about it in the worst possible way.
‘That’s total nonsense’: Bill Kristol punches Santorum right between the eyes on Trump’s failing trade policy
CNN contributor Rick Santorum said he was personally offended on Sunday after conservative writer Bill Kristol attacked President Donald Trump's trade policy.
During a segment about Trump's trade war with China, Kristol noted that the president seems "demoralized" and "depressed."
"His economists have told him privately we're slowing down and we're at some risk of toppling into a recession," Kristol explained. "His political people have told him his numbers are going down not up."
The conservative writer pointed to Trump's racist attacks on black lawmakers as one mistake he has made.