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Saturday, May 01, 2021

Trump just made $185 million


Being president easily cost Donald John Trump a billion bucks in the money he could have made had he been able to tend his business during a historic growth period in the economy.

Today, he made back a little of what he lost.

Bloomberg News reported, "Investors snapped up $1.2 billion of bonds linked to a San Francisco office tower that makes up much of Donald Trump’s fortune.

"The AAA slice of the commercial mortgage-backed security sold Friday with a discount margin, or risk premium, of 125 basis points over one-month Libor -- roughly in line with other recent office-tower deals.

"The bonds are being used to refinance a loan on the 555 California Street property in a deal that gives joint owners Vornado Realty Trust and Trump a $617 million payout.

"The complex, among the tallest buildings in San Francisco, is one of two Trump-linked office towers that Vornado is refinancing. The other is in New York. While Vornado majority owns them, Trump’s 30% stake is the most valuable part of his portfolio, making up about one-third of his $2.3 billion fortune, according to the Bloomberg Billionaires Index."

30% of $617 million is (does the arithmetic in his head) a lot of money.

$185 million to be exact.

Covid and high taxes have hurt the real estate market but many observers see it rebounding as vaccinations make wearing masks and cowering in our homes look like the idiocy they are.

The story made a big deal about President Trump having to refinance over the next 5 years $590 million in mortgages on his various resorts and hotels.  Given that those properties are worth more than that, I don't see the problem. 

Eric Trump, executive vice president of Trump Organization, said, "We are one of the most under-leveraged real estate companies in the country relative to our assets."

It is nice to see President Trump finally get to benefit from the historic economic boom he delivered while in office.

Making America Great Again rewarded many of his political enemies. Ah, irony.

Career politicians Bill Clinton and Barack Obama collected more than $100 million each in book deals and other bribes. An honest president has to make money on his own, which is what The Donald is doing.

21 comments:

  1. Cool, he should offer to put the homeless in there and really stroke the city of San Fran.$$$

    ReplyDelete
    Replies
    1. No, he would offer to HIRE them - and then fire them if they don't show up/perform adequately.
      THAT'S the free market that businessmen like Trump embrace.

      Delete
  2. Only a Democrat could enter public office broke and leave rich without even a hint of corruption.

    ReplyDelete
  3. Likewise, a rebounding real estate market should also benefit son-in-law Jared Kushner and his family, who specialize in residential apartment buildings. Jared deserves it for his success as a peacemaker after putting up with ridicule for three years for supposedly being too callow a youth.

    ReplyDelete
  4. "An honest president has to make money on his own, which is what The Donald is doing."

    So Trump is making $185,000,000 because Vornado is refinancing properties where Trump has large minority shares. That, my friend, was not Donald Trump's decision. Trump's business decision-making is best illustrated by his six bankruptcies - Taj Mahal (1991), Trump Castle Casino (1992), Trump Plaza Casino (1992), Plaza Hotel in NYC (1992), Trump Casinos & Resorts (2004) and Trump Entertainment (2009).

    Trump's honesty is unprovable after convictions for money-laundering through his casinos, his Trump University grift, and using Trump Charity for personal enrichment. And for those who cannot remember, Trump is no longer our president.

    ReplyDelete
    Replies
    1. __Banks and Bondholders of real estate holdings take on the debt with their risk...Trump should've re-fied the China debt, same; or better yet dimiss the U.S.s' debt altogether as recovery of a lost Economy, to punish China for inflicting the Wuhan flu onto the U.S. Countries have sought reparations after wars or acts of aggression on their homefronts [e.g. this instance 'germ warfare', by omission or commission], since forever (Why not, the BLM movemnt makes the same 'reparations argument?!). __He'd've won 120 million last November 3rd! ZB

      Delete
    2. Barry and Slick Willy made their fortunes leveraging their status as former Presidents. Trump made that money back in the business he built.

      Delete
  5. Gadfly is a troll. When nobody responds to trolls they wither up and go away.

    Take note.

    ReplyDelete
    Replies
    1. Point well taken__. However like a pesky fly, every now and then one needs swatting. zb

      Delete
    2. DDT works best for pests.

      Delete
  6. Unfortunately, it's too late to bring in the frogs...who LOOOOOOOOOOOOOOOVE eating flies.

    ReplyDelete
  7. I swear to God, hypocrisy for LibCommies has become not just a thing you brush off as you chuckle like a pimp. It is now for them a New Social Credit; it can be mined, like Bitcoin. Hey Nancy, your Hypocrisy Account is getting a little low! Better restock your freezer with $18/pint ice cream and post a pic on Twitter! But yeah, Trump’s still Bad Guy Numero Uno!! Sickness…

    ReplyDelete
    Replies
    1. If it wasn’t for hypocrisy, liberals would have nothing.

      Delete
  8. I recently refinanced my farm and pulled out enough equity to pay off all my other debt that had a higher interest rate than the market, cut my mortgage rate in half while keeping my payment the same with my remaining equity even higher now that new homes, because of the cost of lumber, have jumped reportedly 36k. Sometimes timing is everything. And the trash company after 4 years of sacrifice for its startup is now booming for my grandsons. Only in America.

    ReplyDelete
  9. “You’re a winner of life’s lottery! You didn’t build that!”

    Psyche. Way to play it, brother.

    ReplyDelete
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