https://slate.com/news-and-politics/2018/05/trumps-usd400-million-cash-spending-david-fahrenthold-on-where-the-story-goes-next.html
A big story in Sunday’s Washington Post lays out in detail how Donald Trump’s business, in the years before Trump became president, went on what the newspaper describes as a “buying binge,” purchasing property and extending the reach of the brand. What’s most surprising, however, is that much of this—at least $400 million worth—was done in cash. Not only was it a surprising strategy for someone who famously—and infamously—used to go into debt to make purchases; it also raises the question of exactly where the cash came from. And, indeed, this question may be of interest to federal investigators.
https://www.washingtonpost.com/politics/as-the-king-of-debt-trump-borrowed-to-build-his-empire-then-he-began-spending-hundreds-of-millions-in-cash/2018/05/05/28fe54b4-44c4-11e8-8569-26fda6b404c7_story.html?noredirect=on&utm_term=.f88698267d9b
In the nine years before he ran for president, Donald Trump’s company spent more than $400 million in cash on new properties — including 14 transactions paid for in full, without borrowing from banks — during a buying binge that defied real estate industry practices and Trump’s own history as the self-described “King of Debt.”
Trump’s vast outlay of cash, tracked through public records and totaled publicly here for the first time, provides a new window into the president’s private company, which discloses few details about its finances.
It shows that Trump had access to far more cash than previously known, despite his string of commercial bankruptcies and the Great Recession’s hammering of the real estate industry.
Why did the “King of Debt,” as he has called himself in interviews, turn away from that strategy, defying the real estate wisdom that it’s unwise to risk so much of one’s own money in a few projects?
A big story in Sunday’s Washington Post lays out in detail how Donald Trump’s business, in the years before Trump became president, went on what the newspaper describes as a “buying binge,” purchasing property and extending the reach of the brand. What’s most surprising, however, is that much of this—at least $400 million worth—was done in cash. Not only was it a surprising strategy for someone who famously—and infamously—used to go into debt to make purchases; it also raises the question of exactly where the cash came from. And, indeed, this question may be of interest to federal investigators.
https://www.washingtonpost.com/politics/as-the-king-of-debt-trump-borrowed-to-build-his-empire-then-he-began-spending-hundreds-of-millions-in-cash/2018/05/05/28fe54b4-44c4-11e8-8569-26fda6b404c7_story.html?noredirect=on&utm_term=.f88698267d9b
In the nine years before he ran for president, Donald Trump’s company spent more than $400 million in cash on new properties — including 14 transactions paid for in full, without borrowing from banks — during a buying binge that defied real estate industry practices and Trump’s own history as the self-described “King of Debt.”
Trump’s vast outlay of cash, tracked through public records and totaled publicly here for the first time, provides a new window into the president’s private company, which discloses few details about its finances.
It shows that Trump had access to far more cash than previously known, despite his string of commercial bankruptcies and the Great Recession’s hammering of the real estate industry.
Why did the “King of Debt,” as he has called himself in interviews, turn away from that strategy, defying the real estate wisdom that it’s unwise to risk so much of one’s own money in a few projects?
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