It is no wonder that he’s had his greatest success renting his name to Macy’s and pretending to run a business on television rather than actually running a business.
That may be an exaggeration. Although it's tough to have 100s of millions in leveraged equity in Real Estate the last 30 years as interest rats dropped so much without making money.
I wonder how wealthy Trump would be if he had just put his entire inheritance into commercial properties, say 30% equity, 70% debt, and then sat back and managed those properties. I'm, guessing he would be worth at least twice what he is now. (perhaps only 150% of what he says he's worth now). But then that is with hindsight of the way interest rates dropped, allowing for stunning increases in equity for no other reason. It's not just the refinancing at lower rates, it's also the increase in prices as financing became cheaper.
Apparently, that kind of good fortune (luck) is what some call being a business genius.
invite response
"Trump, Lies, and Bankruptcy"
http://www.nationalreview.com/article/431420/donald-trumps-2016-debate-lies-he-went-bankrupt?IPhaggXL1A6zWaA7.01
That may be an exaggeration. Although it's tough to have 100s of millions in leveraged equity in Real Estate the last 30 years as interest rats dropped so much without making money.
I wonder how wealthy Trump would be if he had just put his entire inheritance into commercial properties, say 30% equity, 70% debt, and then sat back and managed those properties. I'm, guessing he would be worth at least twice what he is now. (perhaps only 150% of what he says he's worth now). But then that is with hindsight of the way interest rates dropped, allowing for stunning increases in equity for no other reason. It's not just the refinancing at lower rates, it's also the increase in prices as financing became cheaper.
Apparently, that kind of good fortune (luck) is what some call being a business genius.