Donald Trump's wealth

Fun with supply and demand.
Post Reply
User avatar
Lance Kennedy
Has No Life
Posts: 11616
Joined: Tue Mar 29, 2005 10:20 pm
Custom Title: Super Skeptic
Location: Paradise, New Zealand

Donald Trump's wealth

Post by Lance Kennedy » Fri Nov 18, 2016 8:59 pm

Trump claims to be smart because he has made a lot of money. What is the truth?

In 1974, Trump inherited a pile of money. While the exact amount has been kept confidential, estimates vary around $US 140 million. If that money were to be passively invested in the S and P at compound interest, his net worth today would be $US 8.3 billion. In fact, he is estimated today to be worth $US 8.7 billion. Hardly any more than a simple passive compound interest account would fetch.

When I was a lot younger, about 50 years ago when a million dollars was a hell of a lot of money, I heard an interview with a multi-millionnaire who was self made. The question was : "How can someone make so much money?" His answer was that the first million was the toughest. After that, you could hire the investment talent you needed, and the money rolled in.

Well, Trump already had inherited the 'first million' (and then some) in 1974. The fact that he is now worth "only" 8.7 billion suggests that his investment talent was not too great!

User avatar
gorgeous
Perpetual Poster
Posts: 4877
Joined: Wed Jan 21, 2015 2:25 pm

Re: Donald Trump's wealth

Post by gorgeous » Sat Nov 19, 2016 12:57 am

still spends the same...
Science Fundamentalism...is exactly what happens when there’s a significant, perceived ideological threat to one’s traditions and identity.

Matthew Ellard
Real Skeptic
Posts: 28703
Joined: Fri Jun 13, 2008 3:31 am

Re: Donald Trump's wealth

Post by Matthew Ellard » Sat Nov 19, 2016 3:58 am

Trump, according to Forbes, is only worth 3,7 billion USD. He has been through four bankruptcies, so this makes more sense.
http://www.forbes.com/profile/donald-trump/

Let's hope his fifth bankruptcy isn't the USA. :D

User avatar
Gord
Obnoxious Weed
Posts: 31884
Joined: Wed Apr 29, 2009 2:44 am
Custom Title: Silent Ork
Location: Transcona

Re: Donald Trump's wealth

Post by Gord » Sat Nov 19, 2016 4:02 am

Lance Kennedy wrote:In fact, he is estimated today to be worth $US 8.7 billion.

What?? I've heard $4 billion before, and a few numbers lower (some of them only in the millions), but never $8.7 billion. Forbes says it's 3.7 billion. Bloomberg News estimated it at 2.9 billion, but I think it's probably fallen since then (Bloomberg's number is pretty old now, and Forbes says Trump's worth fell $800 recently).
"Knowledge grows through infinite timelessness" -- the random fictional Deepak Chopra quote site
"Imagine an ennobling of what could be" -- the New Age BS Generator site
"You are also taking my words out of context." -- Justin
"Nullius in verba" -- The Royal Society ["take nobody's word for it"]
#ANDAMOVIE
Is Trump in jail yet?

User avatar
TJrandom
Has More Than 9K Posts
Posts: 9691
Joined: Sat Aug 23, 2014 10:55 am
Location: Pacific coast outside of Tokyo bay.
Contact:

Re: Donald Trump's wealth

Post by TJrandom » Sat Nov 19, 2016 4:47 am

Gord wrote:
Lance Kennedy wrote:In fact, he is estimated today to be worth $US 8.7 billion.

What?? I've heard $4 billion before, and a few numbers lower (some of them only in the millions), but never $8.7 billion. Forbes says it's 3.7 billion. Bloomberg News estimated it at 2.9 billion, but I think it's probably fallen since then (Bloomberg's number is pretty old now, and Forbes says Trump's worth fell $800 recently).


That 8.7 is estimated to be his wealth 100 days after taking office... it`s just 3.7 now. ;)

User avatar
gorgeous
Perpetual Poster
Posts: 4877
Joined: Wed Jan 21, 2015 2:25 pm

Re: Donald Trump's wealth

Post by gorgeous » Sat Nov 19, 2016 3:10 pm

Success is not final, failure is not fatal: it is the courage to continue that counts.--- Winston Churchill
-------------Success consists of going from failure to failure without loss of enthusiasm.-- Winston Churchill
------It's fine to celebrate success but it is more important to heed the lessons of failure.--- Bill Gates
Science Fundamentalism...is exactly what happens when there’s a significant, perceived ideological threat to one’s traditions and identity.

bobbo_the_Pragmatist
Has No Life
Posts: 14756
Joined: Wed Sep 09, 2015 9:39 am
Custom Title: bobbo da existential pragmatist

Re: Donald Trump's wealth

Post by bobbo_the_Pragmatist » Sat Nov 19, 2016 4:06 pm

Had an old boss. Nice guy. son of the guy that made it big in "seeds." He like everyone else sold to Monsanto and invested thereafter. The joke was how did he become worth $3 Million and the answer was inherit $ 5 Million from Dad, lose it all, and marry rich.

Hourly wage earners can be so cruel.
Real Name: bobbo the existential pragmatic evangelical anti-theist and Class Warrior.
Asking: What is the most good for the most people?
Sample Issue: Should the Feds provide all babies with free diapers?

User avatar
Lance Kennedy
Has No Life
Posts: 11616
Joined: Tue Mar 29, 2005 10:20 pm
Custom Title: Super Skeptic
Location: Paradise, New Zealand

Re: Donald Trump's wealth

Post by Lance Kennedy » Sat Nov 19, 2016 6:34 pm

https://www.quora.com/Did-Donald-Trump- ... kable-rate

The above is my reference. The 8.7 billion comes from Trump's own claims. Probably silly, of course. We all know he is a liar.

Matthew Ellard
Real Skeptic
Posts: 28703
Joined: Fri Jun 13, 2008 3:31 am

Re: Donald Trump pays $25million for false advertising

Post by Matthew Ellard » Sat Nov 19, 2016 11:56 pm

gorgeous wrote:Success is not final, failure is not fatal: it is the courage to continue that counts.---

Donald has had to settle, paying $25,000,000.00 for false advertising concerning Trump University,
http://www.huffingtonpost.com.au/entry/ ... aad9b69173

So, within 18 days of his election Trump has had to settle $25,000,000.00 for lying and false advertising.

The next four years is going to be hilarious.
:lol:

User avatar
Gord
Obnoxious Weed
Posts: 31884
Joined: Wed Apr 29, 2009 2:44 am
Custom Title: Silent Ork
Location: Transcona

Re: Donald Trump's wealth

Post by Gord » Sun Nov 20, 2016 3:44 am

Lance Kennedy wrote:https://www.quora.com/Did-Donald-Trump-inherit-a-lot-of-money-and-then-increase-his-net-worth-at-an-unremarkable-rate

The above is my reference. The 8.7 billion comes from Trump's own claims. Probably silly, of course. We all know he is a liar.

:facepalm:

Yes, his "worth" goes up and down on a daily basis depending on how he feels at any given moment. It's complete BS.
"Knowledge grows through infinite timelessness" -- the random fictional Deepak Chopra quote site
"Imagine an ennobling of what could be" -- the New Age BS Generator site
"You are also taking my words out of context." -- Justin
"Nullius in verba" -- The Royal Society ["take nobody's word for it"]
#ANDAMOVIE
Is Trump in jail yet?

User avatar
gorgeous
Perpetual Poster
Posts: 4877
Joined: Wed Jan 21, 2015 2:25 pm

Re: Donald Trump's wealth

Post by gorgeous » Sun Nov 20, 2016 3:00 pm

his claim came from his financial disclosure..... now it may be---- Donald Trump's Fortune Falls $800 Million To $3.7 Billion - Forbes


www.forbes.com/.../the-definitive-look- ... ealth-new/
Science Fundamentalism...is exactly what happens when there’s a significant, perceived ideological threat to one’s traditions and identity.

User avatar
Paul Anthony
Veteran Poster
Posts: 2783
Joined: Sun Apr 23, 2006 9:23 pm
Custom Title: The other god
Location: The desert
Contact:

Re: Donald Trump's wealth

Post by Paul Anthony » Sun Nov 20, 2016 11:36 pm

$3.7, $8.7...Is anyone on this forum richer?
People who say ALWAYS and NEVER are usually wrong, part of the time.
Science answers questions, Philosophy questions answers.
Make sense, not war.

Matthew Ellard
Real Skeptic
Posts: 28703
Joined: Fri Jun 13, 2008 3:31 am

Re: Donald Trump's wealth

Post by Matthew Ellard » Sun Nov 20, 2016 11:51 pm

Actually something doesn't add up.

If an entity had capital wealth of $3.7 Billion, that entity would anticipate 3 points above cash rate, for return on capital or about 5%, or about 185 million a year. In reality, Trump had to sell two portfolio assets to raise the 16 million he used for campaign advertising as he had no liquid cash. He now has to pay another $25 million in settlement for false advertising.

If I were to argue that Trump has highly negative geared investments, then that's not capital wealth as the loan liabilities reduce the net capital in the balance sheet.

An average forensic accountant should be able to estimate Trump's probable wealth by assessing what other Trump assets have come onto the public market to meet the $25 Million settlement.

User avatar
TJrandom
Has More Than 9K Posts
Posts: 9691
Joined: Sat Aug 23, 2014 10:55 am
Location: Pacific coast outside of Tokyo bay.
Contact:

Re: Donald Trump's wealth

Post by TJrandom » Mon Nov 21, 2016 4:08 am

Paul Anthony wrote:$3.7, $8.7...Is anyone on this forum richer?


Yes indeed, I have more than that in my wallet this very moment.

User avatar
Gord
Obnoxious Weed
Posts: 31884
Joined: Wed Apr 29, 2009 2:44 am
Custom Title: Silent Ork
Location: Transcona

Re: Donald Trump's wealth

Post by Gord » Mon Nov 21, 2016 6:15 am

Paul Anthony wrote:$3.7, $8.7...Is anyone on this forum richer?

Richer in spirit, yes. Whatever "spirit" is.
"Knowledge grows through infinite timelessness" -- the random fictional Deepak Chopra quote site
"Imagine an ennobling of what could be" -- the New Age BS Generator site
"You are also taking my words out of context." -- Justin
"Nullius in verba" -- The Royal Society ["take nobody's word for it"]
#ANDAMOVIE
Is Trump in jail yet?

User avatar
OlegTheBatty
Has No Life
Posts: 11193
Joined: Thu Mar 27, 2008 2:35 pm
Custom Title: Uppity Atheist

Re: Donald Trump's wealth

Post by OlegTheBatty » Wed Nov 23, 2016 7:39 pm

Gord wrote:
Paul Anthony wrote:$3.7, $8.7...Is anyone on this forum richer?

Richer in spirit, yes. Whatever "spirit" is.


Are you still richer in spirit when your spirit goes astral travelling to brothels and low taverns?
. . . with the satisfied air of a man who thinks he has an idea of his own because he has commented on the idea of another . . . - Alexandre Dumas 'The Count of Monte Cristo"

There is no statement so absurd that it has not been uttered by some philosopher. - Cicero

User avatar
Gord
Obnoxious Weed
Posts: 31884
Joined: Wed Apr 29, 2009 2:44 am
Custom Title: Silent Ork
Location: Transcona

Re: Donald Trump's wealth

Post by Gord » Thu Nov 24, 2016 12:28 pm

OlegTheBatty wrote:
Gord wrote:
Paul Anthony wrote:$3.7, $8.7...Is anyone on this forum richer?

Richer in spirit, yes. Whatever "spirit" is.

Are you still richer in spirit when your spirit goes astral travelling to brothels and low taverns?

No! How'd it get out of the bottle?! I don't even use a glass!!
"Knowledge grows through infinite timelessness" -- the random fictional Deepak Chopra quote site
"Imagine an ennobling of what could be" -- the New Age BS Generator site
"You are also taking my words out of context." -- Justin
"Nullius in verba" -- The Royal Society ["take nobody's word for it"]
#ANDAMOVIE
Is Trump in jail yet?

User avatar
OlegTheBatty
Has No Life
Posts: 11193
Joined: Thu Mar 27, 2008 2:35 pm
Custom Title: Uppity Atheist

Re: Donald Trump's wealth

Post by OlegTheBatty » Thu Nov 24, 2016 10:42 pm

Gord wrote:
OlegTheBatty wrote:
Gord wrote:
Paul Anthony wrote:$3.7, $8.7...Is anyone on this forum richer?

Richer in spirit, yes. Whatever "spirit" is.

Are you still richer in spirit when your spirit goes astral travelling to brothels and low taverns?

No! How'd it get out of the bottle?! I don't even use a glass!!

Bottles only stop genies. It's basic physics.
. . . with the satisfied air of a man who thinks he has an idea of his own because he has commented on the idea of another . . . - Alexandre Dumas 'The Count of Monte Cristo"

There is no statement so absurd that it has not been uttered by some philosopher. - Cicero

User avatar
scrmbldggs
Real Skeptic
Posts: 23880
Joined: Sun May 20, 2012 7:55 am
Custom Title: something
Location: somewhere

Re: Donald Trump's wealth

Post by scrmbldggs » Fri Nov 25, 2016 4:27 am

Gord wrote:
OlegTheBatty wrote:
Gord wrote:
Paul Anthony wrote:$3.7, $8.7...Is anyone on this forum richer?

Richer in spirit, yes. Whatever "spirit" is.

Are you still richer in spirit when your spirit goes astral travelling to brothels and low taverns?

No! How'd it get out of the bottle?! I don't even use a glass!!

Well there's yer problem. It's plastic physics.
.
Lard, save me from your followers.

User avatar
Gord
Obnoxious Weed
Posts: 31884
Joined: Wed Apr 29, 2009 2:44 am
Custom Title: Silent Ork
Location: Transcona

Re: Donald Trump's wealth

Post by Gord » Fri Nov 25, 2016 6:00 pm

I checked the bottle, and it is glass. It's also nearly empty. :(
"Knowledge grows through infinite timelessness" -- the random fictional Deepak Chopra quote site
"Imagine an ennobling of what could be" -- the New Age BS Generator site
"You are also taking my words out of context." -- Justin
"Nullius in verba" -- The Royal Society ["take nobody's word for it"]
#ANDAMOVIE
Is Trump in jail yet?

Post Reply