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MSNBC host Lawrence O’Donnell is responding to Donald Trump’s claims that he will sue him for saying the real estate mogul was no billionaire. This guy thinks there is no amount of money a TV network could pay a real billionaire to appear on a reality TV show, and he’s got a point. Trump is saying he has a $7 BILLION net worth….we don’t want no problems.
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he’s not a billionaire.
first off – he inherited 200 million from his father Fred Trump. He probably doesn’t even have 200 million right now. He’s filed for bankruptcy a number of times and actually owns none of the buildings with his name on them – due to restructuring his bankruptcies. they are owned by mostly asian and arabian peninsula moguls who are licensing the trump brand from him because people still perceive him as being rich.
he’s been exposed for lying about his money many times. there was a nigga who wrote a book and did all the research and showed he was worth less than what he inherited from his father. Trump sued him for $1 billion. Then the new york times followed up on the story claiming that the author’s work checked out – and trump sued the new york times for $1 billion. as you can guess – both of those bitch ass lawsuits were thrown out.
net worth is a combination of liquidity, earnings, and assets against liabilities. he’s had liabilities for so long that he has few real assets to leverage. and having public money troubles greatly limits one’s ability to grow earnings because you have no negotiating leverage. why do you think he is doing a television show? he was doing late night informercials for trump university – aka get rich schemes where you have to buy dvds from him and got caught by the feds: http://en.wikipedia.org/wiki/Trump_University
there’s trump spring water, trump ties, trump everything. his business is licensing the trump brand – and the trump brand depends on the illusion that he’s a billionaire. so he has to protect it.
this dude has been lying. but he’s not the only one. most of the forbes list is inflated – it brings forbes the most traffic/ad views (which is why they make so many more lists now) nd they don’t have more access to private financial data on people than you and i do. they consult with the person in question – that person gives them a number and some loose data to corroborate it. it works for the person and it works for forbes.
everybody is lying about EVERYTHING. trust no one.
I don’t think earnings and liquidity are directly involved in a net worth calculation, unless by earnings you mean some kind of annuity that they are due, in which case the current value would be taken as an asset anyway.
That said, this cheeseball probably is worth less than $200 mill but even half of that is much more than I’ll ever see in this lifetime. It sucks to be born poor make it to middle class and realize you’re not going to get much further.
Dude don’t take this coon seriously he uses the n word while he’s trying to make some sort of intellectual point (fail), then goes on to site Wikipedia (double fail), that is not a credible source my friend. By the way net worth is calculated only by your total assets minus you liabilities, your cash is apart of you assets and so are your earnings. The biggest jackass move is that you’re basing your argument on another person’s research. You don’t even give the “niggas,” name from whom you based your OPINION. All you anonymous assholes are suspect. Bottom line Donald Trump is considered a billionaire by Forbes magazine and that is enough for me to agree, granted he probably doesn’t have 1 billion dollars cash, but most of the “Billionaires,” on the list don’t, all of their statuses are based on net worth not cash.
“as you can guess – both of those bitch ass lawsuits were thrown out. ”
I wish I could say that on my college paper. I Would feel like a total boss.
What is the motive of this ‘reporter’???
Who cares how much he has, he’s a big success!