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His Dad transferred him $1B in NYC real estate in the 80's and 90's. If Donald had just sat on that and did nothing, he'd be a heck of a lot richer than he is

His Dad transferred him $1B in NYC real estate in the 80's and 90's. If Donald had just sat on that and did nothing, he'd be a heck of a lot richer than he is now. "Doing nothing" was a better businessman than Donald Trump.

leereeves 1y ago
No, the (unproven) claim was that the real estate was worth $1B in 2018 money, not when it was transferred, and not all went to Donald. > According to The New York Times, Fred and his wife, Mary, provided over $1 billion (in 2018 currency) to their [five] children https://en.wikipedia.org/wiki/Fred_Trump https://en.wikipedia.org/wiki/Fred_Trump Edit: Only four living children, oops. And the claim was "the equivalent today [2018] of at least $413 million" went to Donald. https://www.nytimes.com/interactive/2018/10/02/us/politics/trump-family-wealth.html https://www.nytimes.com/interactive/2018/10/02/us/politics/t...
- bryanlarsen 1y ago
  Basic point is still true. NYC real estate has gone up in value far faster than inflation has. Also, Donald got approximately half of the fortune, not the 1/5 you would expect.
  - moralestapia 1y ago
    NYC real estate hasn't gone up 10x during that time. As much as you want that to be true, you're just objectively wrong.
    - NickC25 1y ago
      You're right, it hasn't gone up 10x during that time, it's gone up far more. His trust also owned the land for the buildings, which is far more valuable than the buildings Fred built. Shit, my sister owns a walkup in lower Manhattan that she bought during COVID and it's already 3x'd in value as of latest appraisal. You're stretching back 40-50 years, and that was when NYC was a dirty hellhole. It's nice now. You bought in Brooklyn at that same time Fred bought up a lot of Manhattan, you're looking at a return around 300-400x EASILY. Manhattan, if you bought in the 70s and 80s, you're looking at a much higher multiple.
NickC25 1y ago
Had Donald Trump liquidated his real estate holdings upon receiving them from his father, and invested them into the S&P500 exclusively, his net worth IIRC would be approximately in the range of ~$30-40 Billion. Instead, he's bankrupted 3 casinos, and declared bankruptcy 6 times. Why do people think he's some sort of business genius?
- moralestapia 1y ago
  Can you back up your claim with sources and ... actual numbers? No "IIRC", but like ... reality.
  - NickC25 1y ago
    His inheritance is publicly documented....by him. So nobody knows the exact amount of money he received, and if it was in cash, valuation of properties, etc. So no, I can't back up exactly how much, because Donald Trump claims he was given a certain amount, and that amount has changed several times depends on who he's talking to. In terms of actual wealth accumulation, just use a simple return calculator. If Donald Trump placed $1 billion into the S&P500 in 1980 and didn't invest dividends, he would have roughly $17.6 billion, based off the annualized return of 6.5%. However, based off court documents, Donald Trump got a LOT more than a billion, and some of that money was in NYC real estate, which grew much quicker than inflation.

leereeves 1y ago

No, the (unproven) claim was that the real estate was worth $1B in 2018 money, not when it was transferred, and not all went to Donald. > According to The New York Times, Fred and his wife, Mary, provided over $1 billion (in 2018 currency) to their [five] children https://en.wikipedia.org/wiki/Fred_Trump https://en.wikipedia.org/wiki/Fred_Trump Edit: Only four living children, oops. And the claim was "the equivalent today [2018] of at least $413 million" went to Donald. https://www.nytimes.com/interactive/2018/10/02/us/politics/trump-family-wealth.html https://www.nytimes.com/interactive/2018/10/02/us/politics/t...

bryanlarsen 1y ago
Basic point is still true. NYC real estate has gone up in value far faster than inflation has. Also, Donald got approximately half of the fortune, not the 1/5 you would expect.
- moralestapia 1y ago
  NYC real estate hasn't gone up 10x during that time. As much as you want that to be true, you're just objectively wrong.
  - NickC25 1y ago
    You're right, it hasn't gone up 10x during that time, it's gone up far more. His trust also owned the land for the buildings, which is far more valuable than the buildings Fred built. Shit, my sister owns a walkup in lower Manhattan that she bought during COVID and it's already 3x'd in value as of latest appraisal. You're stretching back 40-50 years, and that was when NYC was a dirty hellhole. It's nice now. You bought in Brooklyn at that same time Fred bought up a lot of Manhattan, you're looking at a return around 300-400x EASILY. Manhattan, if you bought in the 70s and 80s, you're looking at a much higher multiple.

NickC25 1y ago

Had Donald Trump liquidated his real estate holdings upon receiving them from his father, and invested them into the S&P500 exclusively, his net worth IIRC would be approximately in the range of ~$30-40 Billion. Instead, he's bankrupted 3 casinos, and declared bankruptcy 6 times. Why do people think he's some sort of business genius?

moralestapia 1y ago
Can you back up your claim with sources and ... actual numbers? No "IIRC", but like ... reality.
- NickC25 1y ago
  His inheritance is publicly documented....by him. So nobody knows the exact amount of money he received, and if it was in cash, valuation of properties, etc. So no, I can't back up exactly how much, because Donald Trump claims he was given a certain amount, and that amount has changed several times depends on who he's talking to. In terms of actual wealth accumulation, just use a simple return calculator. If Donald Trump placed $1 billion into the S&P500 in 1980 and didn't invest dividends, he would have roughly $17.6 billion, based off the annualized return of 6.5%. However, based off court documents, Donald Trump got a LOT more than a billion, and some of that money was in NYC real estate, which grew much quicker than inflation.