Out of curiosity, can you name a NYC Developer that is of the same stature of Trump whom you consider ‘clean’?
If you’re suggesting that all NYC developers have to play the political cronyism game, you’re right. Not just in NYC, but everywhere.
Trump is unique. His trail of wreckage includes creditors, engineers, constructors, sub-contractors, employees and many, many more.
I’ve done business with Trump allies and Trump adversaries. None of them have a good word for him. Bondholders in Atlantic City were ruined. Same with the investors in most of his enterprises. His clothing company manufactures their products in China and Mexico. Most of the “Trump” properties in NYC have licensed his name only.
His net worth in 1976 was listed at $300 million. Fortune estimates his current net worth at $2.9 billion. If he had invested his 1976 money in a Fortune 500 index, his net worth would now be close to $8 billion, so his numerous “successes” have only cost him $5 billion. He says he’s worth $11 billion, but we all know how nebulous “value of the brand” is. I was owed money by a company that valued itself at $700 million, but most of that value was listed under “good will.” When they were padlocked, there weren’t enough real assets to pay 5% to creditors.
By contrast, Warren Buffet’s net worth in 1976 was also $300 million. His net worth today is estimated at $40 billion and he’s spent the past decade giving away billions. I’m not a Buffet fan, but he is a genuine business success story.
BTW: I’m about the same age as Trump. My father worked in a sweat shop. My net worth in 1976 was less than $1,500.
It’s now just under $2 million.
Who’s been more successful?