Once Donald Trump was named the loser of the 2020 election, it was immediately clear that his financial house of cards would collapse. After all, without the ability to use the office of the presidency to corruptly steer money and business to his failing real estate empire, it was certainly going to collapse. The only real question was the timeline, and what he’d start losing first. Now we’re getting that answer.
In what will help his failing finances but will certainly be a blow to his ego, Donald Trump is selling off the naming rights to the Trump International Hotel in Washington DC, according to Axios. What this means is that it will cease being called the “Trump International Hotel” and will instead operate under a new name that doesn’t have the word “Trump” in it.
Given how much Trump values having his name on properties, it’s a big deal that he’s basically agreeing to have his name removed from the Trump Hotel in exchange for the kind of cash payment that he so desperately needs. Given that he still harbors fantasies about somehow magically becoming President again, it’s an even bigger deal that he’s so broke, he has no choice but to give up having his name on the hotel down the street from the White House.
Of course this is just the beginning of the dismantling of Donald Trump’s failing real estate house of cards. What’s notable is that he’s so upside down on nearly all of his properties, he can’t sell them off outright, because he’d be taking a loss that he can’t afford to take. So he’s reduced to selling off naming rights instead. But that won’t buy him much time. This is all going to come tumbling down.
Bill Palmer is the publisher of the political news outlet Palmer Report