More spending of hios own money verses borrowing….
And….
More borrowing then anyone thinks he could do….
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?
And how did Trump — who had money tied up in golf courses and buildings — raise enough liquid assets to go on this cash buying spree?
From the outside, it is difficult to assess how much cash the Trump Organization has on hand.
Eric Trump, a son of the president who helps manage the company, told The Washington Post that none of the cash used to purchase the 14 properties came from outside investors or from selling off major Trump Organization assets.
Instead, Eric Trump said, the firm’s existing businesses — commercial buildings in New York, licensing deals for Trump-branded hotels and clothes — produced so much cash that the Trumps could tap that flow for spending money.
“He had incredible cash flow and built incredible wealth,” Eric Trump said. “He didn’t need to think about borrowing for every transaction. We invested in ourselves.”
Note…
While the Washington Posrt piece does NOT put out a number of the Trump net worth?
One would assume that Mueller’s people DO have a much more detailed view of Donald Trump financials along with copies of his tax returns…
It is unknpwn if that information will be released in Mueller’s final reports….