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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trump has only $93 million in cash per Forbes report
The New York attorney general is investigating the former president for manipulating the value of his properties in ways that benefit him. Its something were familiar with at Forbes, because Trump tried to mislead us about his financial information for decades. This is the first in a series of stories digging deeper into the numbers...
How much cash does Donald Trump have? Hes often said he has a lot. At times hes said he had a little. Some say hes flat broke.
Of the former presidents more than two dozen holdings, much of them tough-to-value real estate, his pile of cash and liquid assets should be the easiest to pin downyou just add up the balances on his account statements. But Trump doesnt share those publicly, and his government financial disclosures only required him to list his cash and investments in broad, imprecise ranges. So, the exact size of Trumps cash pile has always been something of a closely kept secret.
But filings released Tuesday by New York Attorney General Letitia James, as part of her civil investigation into the Trump Organizations financial dealings, offer the clearest picture yet: Trumps liquid assets stood at $93 million in 2020, according to the documents.
https://www.forbes.com/sites/chasewithorn/2022/01/24/how-much-cash-does-donald-trump-really-have/?cdlcid=5d1cdefb1802c8c52460ff6c&utm_campaign=dailydozen&utm_medium=email&utm_source=newsletter&sh=388e8d0873ed
jimfields33
(15,693 posts)I love how the elites say only. Lol.
PJMcK
(21,998 posts)Trump claimed to be worth $10 BILLION. Forbes put him at around $2.5 BILLION.
If he has $93 MILLION, that's a far cry from even $1 BILLION.
Of course it's a lot of money. This just illustrates once again that Trump is full of shit.
Kingofalldems
(38,422 posts)fescuerescue
(4,448 posts)Networth is everything you own minus what you owe.
This is all on a different scale of course, but I know that Personal Finance (a wealth management company) recommends about 1% in cash.
So $10billion, with $93 million cash. That sounds -about- right (0.93%)
On the other hand, if he is worth "only" $2.5 billon, he is being foolish by maintain that level of cash.
PJMcK
(21,998 posts)My point, poorly made, is that someone who claims to be $10 billion is going to have liquid assets exceeding $93 million.
Liquid assets, of course, can mean a lot of different things including cash on hand. Other assets that could easily be converted to cash on short notice can be considered liquid.
Trump 's business is a house of cards and he is nowhere near as rich as he projects. His operation seems to require huge amounts of cash flow in order to stay ahead of his massive debt servicing. Meanwhile, many of his hard assets and real estate have plummeted in value over the past 5 years.
He's really stupid.
Maraya1969
(22,462 posts)93 million is a relative "Only".
AngryOldDem
(14,061 posts)I doubt hes ever been worth $90 million.
secondwind
(16,903 posts)TFG may not have much left after all the lawsuits are settled.
Perhaps Ivanka can lend him a dollar or two.
ProudMNDemocrat
(16,728 posts)For the lifestyle she has become accustomed to. Must keep those "kidneys" functioning at all cost.
TheFarseer
(9,317 posts)ProudMNDemocrat
(16,728 posts)Does NOT make him a Billionaire. The math says so.
dumbcat
(2,120 posts)Then again, liquid assets are not the only form of financial wealth. And liquid assets are not necessarily "cash". I would bet very little of those liquid assets are held as "cash". The headline is misleading.
Johnny2X2X
(18,970 posts)Some billionaires are more liquid, some use credit. Trump has some very valuable assets that he can borrow against if an opportunity arises. Trump's finances are not that atypical of rich people, they often have their net value wrapped up in hard to peg assets that can be manipulated to avoid paying taxes.
$93 Million liquid when you're worth $2 Billion doesn't mean a lot, could be good, could be bad depending on how their finances are usually structured. We know Trump is a fraud, but people waiting for him to go broke will be waiting a long time, he inherited too much valuable real estate to ever really go broke.
Doc Sportello
(7,488 posts)The article explains how his finances are structured and how he has tried to inflate his cash flow for decades. And several of the the "valuable" properties you claim are actually big money losers.
Quote:
"His brick-and-mortar real estate is struggling, his Washington, D.C., hotel is hemorrhaging money and his golf resorts in Scotland and Ireland, longtime money losers, remain in the red. Less than $100 million in cash wouldnt leave much of a safety net for Trump, who had an estimated $738 million of debt coming due over the next three years as of October.debunks everything you said."
So $93M he has compared to the $738M he owes means that yes he will be effectively be broke, unless his sell-offs are worth more than expected or he just doesn't pay his debts, which he is known for.
Johnny2X2X
(18,970 posts)Trump still has a net worth over a billion dollars on the low side. He will never go broke. And some Russian oligarch would come to the rescue if he ever really had cash issues.
Trump is an expert at one thing, leveraging his assets and moving money around. He lives for free as everything in his life is paid for by his businesses. He's never going to go broke and he's never going to see the inside of a jail cell. Would love to see him lose some of his premier properties though.
Maraya1969
(22,462 posts)Crepuscular
(1,057 posts)The $738 million in debt is largely backed by real estate that is worth a lot more than the amount of debt on it. Most of those loans will be rolled over into new loans, so it's unlikely that he will need to use any of his liquid assets when those loans come due.
Bristlecone
(10,114 posts)Response to Mr. Ected (Original post)
Doc Sportello This message was self-deleted by its author.
pwb
(11,246 posts).