this post was submitted on 27 Sep 2024
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Explain Like I'm Five
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Because he's not actually a billionaire.
Lists of rich people like Forbes primarily use number approved by the individuals through various means. We know for a fact thanks to the recent fraud case in NY that the Trump Org regularly inflated nearly every number about their business, especially real estate. They regularly inflated the value of property for things like loans and underestimated the value for taxes.
Trump is well known for requesting people not question his finances in collaborative events like his Comedy Central roast where he can control it.
People with actual money doesn't care about that. And that's just the tip of the monetary iceberg. We've learned a lot since Trump decided to run for President the first time. It was probably the worst thing he could have done to keep his grifts running smoothly.
Was he ever a billionaire?
I'm sure he was at one point, then as he began losing money on terrible ideas, because he's an idiot, he started lashing out into any random crap he could to try and stabilize it. Taking out dozens of foreign loans with inflated numbers, and constantly ending up underwater in those, needing more to further the process, like a debt-based ponzi scheme where no one actually makes any money in the end, not even the banks.
He managed to bankrupt a casino. They basically print money, yet he managed to run one right out of business.
He lost the casino because he wasn't willing to play ball with the family. He thought he could be a big shot and say what happens and found out you don't try and cut in on the business of the family without giving tribute.
there’s a lot of interesting things that happened around his casino
no his dad was a billionaire
And his dad only left him $400 mil which he completely lost through failed ventures and bankruptcies. What a goddamned terrible "business man". Who the fuck bankrupts multiple casinos? How profoundly bad at business does one have to be to fail so hard over and over again?