Donald Trump is fond of bragging about what a great businessman he is. As such, he claims he would be able to revive the American economy, negotiate better trade deals with our competitors, and hammer out airtight foreign policy agreements that would prove America means business.
But a recently released analysis of Trump’s finances suggests that for all his bluster, the Donald would be richer than he is had he merely invested the money he inherited from his father in the stock market.
National Journal writer S.V. Dáte, in a revealing article, concludes that as a businessman, Donald Trump is actually a massive failure. As he notes:
“Had the celebrity businessman and Republican presidential candidate invested his eventual share of his father’s real-estate company into a mutual fund of S&P 500 stocks in 1974, it would be worth nearly $3 billion today, thanks to the market’s performance over the past four decades. If he’d invested the $200 million thatForbes magazine determined he was worth in 1982 into that index fund, it would have grown to more than $8 billion today.”
Yet how much did Trump disclose as his total worth when he filed his financial paperwork with the Federal Elections Commission (FEC)? About $3-4 billion, which is approximately half what he would be worth if he’d never gotten his hands on it. Dáte also writes:
“Even the smaller figure exceeds the lower range of his possible net worth as reported to the Federal Election Commission, while the larger number exceeds by billions recent estimates of Trump’s worth by financial publications. And it would have come without the high-drama, roller-coaster career that has included four corporate bankruptcies.”
Thanks to multiple bad decisions on his behalf, Trump wasted billions of dollars (of his own and other people’s money) while building and then destroying several business ventures. Here’s a staggering fact: Trump’s business empire currently holds the record for the most corporate bankruptcies by a company. Over the last 30 years, no one has been quite as adept at bad business as Trump. And, no one has been bailed out by taxpayers like Trump has either.
Make America great again? If his business record is indicative of how he would run the United States, we would probably be a third-world financial basket case by the end of Trump’s first term.
This article was originally published by the same author at LiberalAmerica.org.