According to financial disclosure documents released in the hours after Trump left the White House to fly to his new home in Florida, the ex-President’s eponymous conglomerate took a major revenue hit over the last year.
Overall, Trump’s businesses produced almost 40% less revenue in 2020 versus 2019. He made $30 million less at his Doral property in Miami than he did in 2019. Revenue at the Trump International Hotel in Washington and the former President’s, Turn berry property in Scotland were down more than 60% year over year.
As CNN’s Charles Riley notes, those downturns came even before a series of companies cut ties following Trump’s role in the incitement of rioters who stormed the US Capitol on January 6. (Read Full Gist Here
While some, maybe much?, of the downturn in Trump’s financial fortunes, can be laid at the feet of the ongoing coronavirus pandemic and the societal restrictions it has forced on all of the travel and hospitality industry, the “Why” of Trump’s falling fortune matters far less than the “What now.”
Where is Donald Trump now?
If You’ll remember and, if not, I am here to remind you, that Trump faces a series of financial challenges in the coming months and years, primarily tied to his personal guarantees on a series of multi-million dollar loans.
Whoop! I think we should have our next posts on Loans and its Pros and Cons. What Do You Think?
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