Donald Trump blatantly lies each time he opens his mouth, and some Americans are catching on to the absurdity of Trump actually becoming the next President of the United States. Trump not only lies about his successes, but he is also daddy-dependent and many of his so-called accomplishments were aided by his father.
Donald Trump continuously boasts about how he is a successful business man and, based solely on that fact, will be a good president. However, Trump has many failed businesses and is not all that he talks himself up to be. Newsweek recently called Trump out on his failed businesses and dependency on his father, and threw out the facts about how much money Trump is really losing.
According to Newsweek,
‘While Trump is quick to boast that his purported billions prove his business acumen, his net worth is almost unknowable given the loose standards and numerous outright misrepresentations he has made over the years. In that 2007 deposition, Trump said he based estimates of his net worth at times on “psychology” and “my own feelings.” But those feelings are often wrong—in 2004, he presented unaudited financials to Deutsche Bank while seeking a loan, claiming he was worth $3.5 billion. The bank concluded Trump was, to say the least, puffing; it put his net worth at $788 million, records show.’
Trump can’t even tell the truth about his own net worth. He claims, “I’m just telling you, you wouldn’t say that you’re failing.” This deceiving statement proves Trump will not own up to his failures and instead pretends they do not exist. He has not only wasted millions of his own dollars, but spends his father’s money as well.
‘The Republican nominee’s wealth is Daddy-made. Almost all of his best-known successes are attributable to family ties or money given to him by his father.’
These successes include following his father into real estate, using his father’s ties to his own personal advantage, his father giving him properties, and borrowing money from his father to bail himself out with no intent of repaying his debts.
Trump’s failures go all the way back to 1962, when his father purchased the Swifton Village apartment complex in Cleveland, Ohio. Fred Trump, Donald’s father, gave the apartment complex to Donald in hopes that he could renovate it and make a profit. Donald ended up spending more money on renovating the complex than he was able to profit from selling it. In order to make a profit from the complex, Trump would have needed to get another $1.15 million from it, though he still refuses to acknowledge his loss.
Upon realizing that he had no real successes of his own, Donald Trump began self-promoting. He travelled around slapping his name on everything he could find, including buildings, water, steaks, and even vodka. These ventures ended poorly for him, as many of the products he slapped his name on quickly stopped producing since there were no buyers in Trump’s market.
Donald Trump has had very few successes and plenty of substantial losses throughout his career. For many other examples of Donald Trump’s business failures and daddy dependency, click here.