Trump Revealed: on Budget & Economy


OpEd: 1990s bankruptcy due to ego-based purchases

In 1990 analysis said that of Trump's 22 assets, only 3 were running a profit. He had piled up a remarkable $3.2 billion in debt. The monthly cash balance from all his businesses was tumbling into the red. His net worth: negative $295 million.

The bad news seemed to weigh on his mind. "Nobody wants to write the positives," he shouted to the crowd. "Over the years, I've surprised a lot of people. The largest surprise is yet to come."

He prided himself on buying or building the very best, sometimes overpaying out of faith in the Trump name and an ever expanding market. His propensity for purchases that played to his ego had been especially evident in his acquisition of one of New York's most storied properties, the Plaza Hotel.

Source: Trump Revealed, by Michael Kranish & Mark Fisher, p.189 Aug 23, 2016

  • The above quotations are from Trump Revealed
    An American Journey of Ambition, Ego, Money, and Power

    by Michael Kranish and Marc Fisher
    .
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