Quantcast
Connect with us

Trump’s ‘Apprentice’ money is running out — and he could be foreclosed on as bills come due: bombshell report

Published

on

Trump mar-a-lago
Donald Trump at Mar-a-Lago (Photo: Screen capture)

The New York Times revealed that among the reports they have about President Donald Trump’s taxes is that he’s been making huge amounts of money off of licensing for “The Apprentice,” which he uses to support his fledging resorts and clubs. But as that money slows, about $421 million in bills are coming due.

“Together with related financial documents and legal filings, the records offer the most detailed look yet inside the president’s business empire,” said the Times. “They reveal the hollowness, but also the wizardry, behind the self-made-billionaire image — honed through his star turn on ‘The Apprentice’ — that helped propel him to the White House and that still undergirds the loyalty of many in his base.”

ADVERTISEMENT

The report went on to calculate that Trump made more money playing a businessman on television than he did being a businessman in real life if his tax records are any indication.

“‘The Apprentice,’ along with the licensing and endorsement deals that flowed from his expanding celebrity, brought Mr. Trump a total of $427.4 million, The Times’s analysis of the records found,” the report continued. “He invested much of that in a collection of businesses, mostly golf courses, that in the years since have steadily devoured cash — much as the money he secretly received from his father financed a spree of quixotic overspending that led to his collapse in the early 1990s.”

The documents reveal that his largest golf resort, Trump National Doral, had $162.3 million in losses since he purchased it for $150 million in 2012. His tax records show that $213 million was put into Doral and about $125 million in mortgage bills are about to be due in the next three years. It adds to $63.6 million in losses for his three European properties. He also reported $315.6 million in losses from his golf courses and a $55.5 million-loss in 2018 for his Trump International Hotel down the White House street.

All of the loses from the sorts have been paid for, the Times said, by “marking his cash infusions as a loan with an ever-increasing balance, his tax records show. In 2016, he gave up on getting paid back and turned the loan into a cash contribution.”

“Rather than making him wealthier, the tax records reveal as never before, each new acquisition only fed the downward draft on his bottom line,” the report revealed.

ADVERTISEMENT

Trump is responsible for the loans and other debts totaling a whopping $421 million. Those bills come due in the next four years.

“Should he win re-election, his lenders could be placed in the unprecedented position of weighing whether to foreclose on a sitting president,” said the Times.

Trump has called all of it “fake news.”

ADVERTISEMENT

Read the full piece from the New York Times.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2020 Election

Trump campaign’s ‘stunningly incompetent’ strategy exposed by former federal prosecutor

Published

on

The Trump campaign is still racking up legal losses in the courts, and even some wealthy GOP donors are reportedly pushing the party to pull the plug on Trump's efforts to overturn the results of the 2020 election.

Attorney Ken White, a former federal prosecutor, has taken a look at some of the Trump campaign's latest legal filings and has found them to be equal parts "shockingly ridiculous" and "stunningly incompetent."

Continue Reading

2020 Election

WATCH: Trump shamed Thanksgiving turkey for refusing to concede White House pardon contest

Published

on

It was just two years ago that President Donald Trump mocked a Thanksgiving turkey for refusing to concede the election for a White House pardon. As Thanksgiving 2020 approaches, Trump has officially become that turkey.

"This was a fair election... unfortunately, Carrots refused to concede and demanded a recount," Trump announced about the battle between Carrots and Peas.

"We're still fighting with Carrots," he joked in a speech. "And I will tell you, we've come to a conclusion: Carrots, I'm sorry to tell you, the results did not change. Too bad for Carrots."

It's unclear if Carrots still maintains the election was rigged, as President Trump does about the 2020 election. He joined Peas at Virginia Tech’s “Gobblers Rest” exhibit in Blacksburg, Virginia. There students and veterinarians within Virginia Tech’s Department of Animal and Poultry Sciences in the College of Agriculture and Life Sciences care for all turkeys given a pardon.

Continue Reading
 

Breaking Banner

Security guard interrupts COVID-denier’s speech and quits on the spot: ‘She’s trivializing the Holocaust’

Published

on

A video from Germany is circulating on social media, showing a COVID-denier addressing a rally, only to have her speech interrupted by a security guard who was disgusted by her comparisons of pandemic restrictions to the Holocaust.

“I feel like Sophie Scholl, since I've been active in the resistance, giving speeches, going to protests, distributing flyers," the woman says to the audience, referring to the famous "White Rose" resistance fighter who opposed the Nazis during World War II.

Continue Reading