I’d also like to see substantiation of “not outpaced stock market.” If true, I wonder where this invisible Dow is. Had Trump bought an average stock portfolio and sat on it, we might be talking multimillionaire all right. But we are talking multibillionaire.
Trump’s stock was not on Wall Street which is investors making other investors richer with funny money. It was buildings with occupants.
The Dow was hovering below 1000 in 1970. Today, without counting didends, the Dow is around 16,000.
If 27,000 apartments were worth $400,000,000 in 1970 ($15,000 per unit), keeping pace with the Dow (even while spending all the dividends), would suggest a value of over $60 billion. Even if the units were worth $5000 each in 1970 (in New York??? My parents little house in the outskirts of Maryland was bought for over $30k in 1969.), that would suggest a fortune on $20 billion (even discounting all dividends for 45 years), not two to four billion, or even trump’s mythical $10 billion.
I think it is fair to say that although donnie did well, he’d have done better buying the Dow and leaving it alone. And if he wanted to live off the dividends, he’d do okay ($560 million to $1.7 billion in dividends per year).
Here's what happened when it was (like with most of other Trump celebrity brand-name corporate entries, which were non-inherited and that he started himself, public or private — which means they didn't have a nice downward chart with the words "default" or "bankruptcy" prominently displayed for everyone to see):
Oh, and in the process he stiffed many people who invested in him via stock or debt loans, while structuring it so that he could only make money while not losing a penny himself (from royalties and salary and dividends from special class of zero-cost preferred stock) but sticking the losses to the celebrity-blinded "investors" ("how can you lose investing in Trump, right?"):
http://www.freerepublic.com/focus/news/3331138/posts - FR, 2015 August 20
There are plenty of people who did the calc that he underperformed both the stock market and the real-estate market. Do the search. He is YUGE in his own mind / ego and his celebrity persona which feeds Trump brand.
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