Donald Trump has been met with some rather unexpected Trump financial failure now that he’s no longer inside The White House.
Politics
To put it bluntly, Trump’s years inside the Oval Office have been tragic for his businesses and ruinous to his financial health. Or, in other words, his years of bragging about being a multi-billionaire are over.
According to Bloomberg News and a Federal Election Commission filing, Trump’s alleged billion-dollar worth is now down roughly $700 million (this is in mostly properties and not cash). His revenues are also down in every facet of the Trump empire and nearly all of his assets have lost value.
The Trump name no longer carries the weight it once did. His premier Washington, DC hotel, which was once thriving with guests and foreign dignitaries is all but empty these days. Nearly 2,000 workers have been furloughed at Trump’s hotels, resorts, and related businesses. Consumers have expressed disinterest in staying at Trump-branded hotels or renting or purchasing Trump-branded condos. His longtime rental brokerage firm, Cushman & Wakefield, has severed all ties with Trump and all Trump entities. In fact, investors say Trump may need to rename his properties or sell them altogether just to boost revenue in order to satisfy his creditors.
However, as if that wasn’t enough, another shocking Trump financial failure has come to light.
The crown jewel of the Trump empire — the Trump jet — is in complete disrepair and has been abandoned at a suburban airport near New York City.
According to CNN, Trump’s personal Boeing 757 (which is emblazoned with his name across the fuselage), is sitting on an airport ramp in Orange County, New York collecting dust and falling apart. The plane is missing an engine and airport authorities confirm that the gold-themed Trump jet has not been used or even maintained in nearly a year.
In fact, Bloomberg News is reporting that Trump’s airplane arsenal — which was once valued at a cool $59 million in 2015 — is now hardly worth $6.5 million in 2020. No wonder Trump has been seen recently flying in a small Cessna airplane.
Although Bloomberg believes the COVID-19 pandemic has had a devastating hand in the Trump financial failure, his role in the deadly January 6th attack on the US Capitol combined with wild fantasies about the election being stolen from him has also been costly. Those 2 events alone sullied the Trump brand and cost him a business deal with the PGA of America and other canceled lucrative contracts.
Meanwhile, Trump is holed-up inside his Florida resort and lacking the trappings he once enjoyed while commander in chief. Without his prized plane, will he now have to fly commercial like the rest of us?
Donald Trump’s lack of leadership and lies were responsible for him losing the presidency. Now, his divisive presidency may be responsible for him losing the remainder of his financial worth.
Stay tuned…
.
None of this is a surprise. He is all pretend on everything he does anyway. When New York finally starts their case on him we are going to hear a whole lot more than this.