Earlier this week Forbes dropped Donald Trump from its list of the four hundred wealthiest people. Palmer Report pointed out that the timing was curious, given that the investigations closing in on Trump were going to end up exposing that he’s so far upside down on things, his net worth is actually negative, and he’s therefore not wealthy at all. We asked if Forbes was simply trying to get out ahead of this by quietly dropping Trump from its list, before the entire list’s credibility would end up being called into question. Now we may have gotten the answer already.
The House Oversight Committee revealed today that during the four years Donald Trump was in office, his Washington DC hotel – the one Trump property that was supposedly still profitable – actually lost more than $70 million. Further, Deutsche Bank had to give Trump special leniency in order to keep the hotel from going under completely.
This means that Donald Trump’s one property that supposedly still had value, in fact never did have value. In other words, none of Trump’s properties are bringing in money, they’re all running at a loss – and Trump is so upside down on his real estate empire, his favorite Russian money laundering bank had to step in to keep him afloat. In other words, Donald Trump really is just that broke.
Of course this suggests that he’s been broke all along, and that he’s spent years merely borrowing from Peter to pay Paul. Once the New York criminal probe begins seizing Trump’s assets and/or revealing his true financial situation in upcoming indictments, we’ll get to see the full extent of just how broke Trump might be. But this new Deutsche Bank-related evidence paints a picture of a failed broke real estate magnate who’s always just trying to barely hang on to his collapsing empire.
Bill Palmer is the publisher of the political news outlet Palmer Report