Current Events > Trump is taking his devaluation of assets well, I see.

(+) Yeah! (+)

https://twitter.com/7Veritas4/status/1707025609652605154?t=BZaO9XxsesPq2YwBNmbp_Q&s=19

lol

The Emperor's clothes are rotting on him as we speak.

This is the second time in 24 hours that he is admitting to the basic facts of the case that he embellishes the value of his properties far beyond any independent assessment.

And because of those values, he got loans that he was not deserving of or was given more than he deserved.

The valuation of Mar-a-Lago is from the Palm Beach County Assessor.

Enjoy the show. I am.

also hoping that judge has a protection detail. Cant be too careful sadly.

Wait, can the my net worth comment be used in courts to prove his knowledge of the fraud?

Mar Lago is only $18 million? Lol

David1988 posted...

Mar Lago is only $18 million? Lol

I mean, have you seen how he decorates? Im surprised it was even that high.

That feeling when you straight up admit to fraud.

lmfao

Eric Trump's meltdown is almost as good. He's crying about how mar-a-lago is actually the most valuable property in the country and is worth over a billion.

And his supporters will vehemently deny that this family isn't full of clownshoes fraudsters.

He fucking wishes his Palm Beach property was worth 1.8bil.

It bears repeating, but just imagine still supporting that.

Just imagine what kind of garbage human being you'd have to be, completely devoid of any redeemable qualities, to think that Donald Trump is the answer to America's ills in 2023.

Allow me to say, from the bottom of my heart:

https://gamefaqs.gamespot.com/a/user_image/2/1/1/AAABqgAAErXj.jpg

So is this how rich people life their lives? Somehow obtain a rich ass property and then get big ass loans off it and then live off said loans? Borrowing forever off other banks and paying them full circle?

I just saw breaking news that the entire state of Florida has run out of ketchup.

How could anyone claim with a straight face that Mar-a-Lago might be worth almost $2 billion dollars......

VeggetaX posted...

So is this how rich people life their lives? Somehow obtain a rich ass property and then get big ass loans off it and then live off said loans? Borrowing forever off other banks and paying them full circle?

A lot of them do, yeah

They'll put up their shares of a stock as loan collateral then use the cash from that loan to buy more stocks/properties and repeat the process

Reminder that we still have people on CE who genuinely support guilty of rape in a court of law Donald Trump and will vote for him if they can.

[LFAQs-redacted-quote]

Can someone explain what that means exactly?

Is it like an NDA a person violated?

I don't understand his mentioning of this.

Will_VIII posted...

Reminder that we still have people on CE who genuinely support guilty of rape in a court of law Donald Trump and will vote for him if they can.

I've said it before and I'll say it again. You can't cure stupidity, sadly.

Steffenfield posted...

Can someone explain what that means exactly?

Is it like an NDA a person violated?

I don't understand his mentioning of this.

It means the disclaimer agreements are flimsier than toilet paper.

When Long Islanders grieve their taxes, the value of their house does not change by an order of magnitude. When those same Long Islanders then try to sell their houses, the value does not change by order of magnitude from the assessed value.

Trump's properties did and that's why he's in trouble.

I've seen this mentioned elsewhere.

But, does Florida have property taxes? It would be interesting to see how much taxes Trump pays for Mar-a-Lago.

David1988 posted...

Mar Lago is only $18 million? Lol

Heard it was 'just' a residence originally, but he got in hock for it somehow and had to turn it into a 'resort' (and charge suckers for entry) in order to keep the property. Caesar's Palace it's not.

Alucard188 posted...

https://twitter.com/7Veritas4/status/1707025609652605154?t=BZaO9XxsesPq2YwBNmbp_Q&s=19

Quite the meltdown.

mar-a-lago is worth 2 billion when seeking to use it as collateral on a loan.
mar-a-lago is worth about tree fiddy in terms of its taxable value.

simple math

Tanthalas posted...

But, does Florida have property taxes?

Yes and they're quite high because the state doesn't have any income tax.

https://gamefaqs.gamespot.com/a/user_image/6/9/7/AABhrNAAE4Lp.jpg

brestugo posted...

Heard it was 'just' a residence originally, but he got in hock for it somehow and had to turn it into a 'resort' (and charge suckers for entry) in order to keep the property. Caesar's Palace it's not.

The sandwich shop/grill at the turn on his golf course looks like someone took an unvarnished front door and made it into a countertop.

I cant find the picture though.

sauceje posted...

How could anyone claim with a straight face that Mar-a-Lago might be worth almost $2 billion dollars......

Yeah, that's a laughably high amount for Mar a Lago. Antilia, the world's most expensive private residence is valued at $2 billion. Trump is crazy if he thinks Mar A Lago is anywhere close to that 400,000 square foot super mansion lol.

NoxObscuras posted...

Trump is crazy if he thinks Mar A Lago is anywhere close to that 400,000 square foot super mansion lol.

I mean, doesn't he also think Ivanka is responsible for 10% of all American jobs?

NoxObscuras posted...

Yeah, that's a laughably high amount for Mar a Lago. Antilia, the world's most expensive private residence is valued at $2 billion. Trump is crazy if he thinks Mar A Lago is anywhere close to that 400,000 square foot super mansion lol.

Antilia cost 1-2 billion to build, but finished property is usually worth more than the build cost.

On the other hand, you would have to want to live in Mumbai to buy it, which kinda puts a damper on the market value, if it would ever even come up for sale.

NoxObscuras posted...

Trump is crazy if he thinks...

So how he usually is all the time. In fact he should have been confined to a bedlam long ago.

Shadow_Don posted...

lmfao

Eric Trump's meltdown is almost as good. He's crying about how mar-a-lago is actually the most valuable property in the country and is worth over a billion.

Well, that is good because they will probably ending up having to sell it the ways things are going

The entire argument of the Trump family is that the ends justify the means.

Jeez. He's like a toddler.

Is there a monetary value we can put on this decision and what it actually costs Trump?

Are we talking millions, tens of millions, hundreds of millions? I know it's not billions, since he's not valued that high, but is this a drop in the bucket? I mean he swindled like 30 or 40 million into his pockets from staying at his own resorts continuously.

ClayGuida posted...

Is there a monetary value we can put on this decision and what it actually costs Trump?

Are we talking millions, tens of millions, hundreds of millions? I know it's not billions, since he's not valued that high, but is this a drop in the bucket? I mean he swindled like 30 or 40 million into his pockets from staying at his own resorts continuously.

I think its going to be hundreds of millions at the very least when you consider the fact that hes not going to be able to make money from any business in the state of New York any more, especially if he gets that permanent ban that the state wants.

[LFAQs-redacted-quote]

Well that's litigation though. I just mean by not allowing him to run business in the city/state (whatever), how much is he on the hook to lose. Because as I said in another topic, I understand he has like 1,000 LLC's, but he doesn't actually produce or manufacture anything anymore, outside of maybe suits and ties, perhaps the MAGA brand, idk, but he's not peddling in Trump U, Trump Steaks, or Trump Water anymore afaik, and his only major brand anymore is his resorts and hotels, which from what I recall, he only has one of each in NYC, so I'm unsure of how big of an impact this will have at all.

That's why I'm curious if there's been a monetary valuation of his potential losses due to this decision.

ClayGuida posted...

Is there a monetary value we can put on this decision and what it actually costs Trump?

Are we talking millions, tens of millions, hundreds of millions? I know it's not billions, since he's not valued that high, but is this a drop in the bucket? I mean he swindled like 30 or 40 million into his pockets from staying at his own resorts continuously.

It's really going to hit his supporters in the wallets. It's going to be a lean Christmas for the MAGA lot.

ClayGuida posted...

Well that's litigation though. I just mean by not allowing him to run business in the city/state (whatever), how much is he on the hook to lose. Because as I said in another topic, I understand he has like 1,000 LLC's, but he doesn't actually produce or manufacture anything anymore, outside of maybe suits and ties, perhaps the MAGA brand, idk, but he's not peddling in Trump U, Trump Steaks, or Trump Water anymore afaik, and his only major brand anymore is his resorts and hotels, which from what I recall, he only has one of each in NYC, so I'm unsure of how big of an impact this will have at all.

That's why I'm curious if there's been a monetary valuation of his potential losses due to this decision.

I am sure at this time most of the money is outside of the business. Plus his business partners tend to take most of the risk of managing and operating the facilities, he is mostly just a brand guy now a days, so it won't probably effect him as much as most people would hope

ai123 posted...

The valuation of Mar-a-Lago is from the Palm Beach County Assessor.

It's kind of astonishing to me. An apartment building near me just sold for 72 million on a 102 million valuation, and it's just a "luxury" 5 over 1.

18 million for a resort in Palm Beach seems absurdly low to me.

[LFAQs-redacted-quote]

Okay.

I get it now.

Thanks for the explanation. :)

David1988 posted...

Mar Lago is only $18 million? Lol

I was surprised. Doesn't seem right to me, truthfully.

ClayGuida posted...

Is there a monetary value we can put on this decision and what it actually costs Trump?

Are we talking millions, tens of millions, hundreds of millions? I know it's not billions, since he's not valued that high, but is this a drop in the bucket? I mean he swindled like 30 or 40 million into his pockets from staying at his own resorts continuously.

So you remember how he likes to brag about hiw his campaign started when he rode down the golden escalator like a completely healthy person would say?

Well thats not going to happen this time. That property and any of his NYC hi rises are going away.

And its not a drop in the bucket. Hes like Musk except a thousand times worse; completely leveraged to the eyeballs. Once he starts losing properties the whole thing falls apart.

divot1338 posted...

So you remember how he likes to brag about hiw his campaign started when he rode down the golden escalator like a completely healthy person would say?

Well thats not going to happen this time. That property and any of his NYC hi rises are going away.

And its not a drop in the bucket. Hes like Musk except a thousand times worse; completely leveraged to the eyeballs. Once he starts losing properties the whole thing falls apart.

I doubt it. That was the old Trump: the real estate developer, the guy the went bankrupt multiple times. The new Trump is less Conrad Hilton & more Paris Hilton. He is less about building shit than slapping his name and branding on shit. It doesn't take a whole lot of leverage to slap your logo on something that someone else is building and distributing.