- Joined
- Jul 28, 2009
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Credit reports released during this trial are mighty interesting. They reveal how much some of Trump's business actually make...which is not very much.
Trump Tower's operating income (which means additional costs such as interest on loans and any taxes haven't yet been deducted) was only $13 million annually before the pandemic. In 2020 Gucci, which represented 2/3rds of the $ flowing into the building, renegotiated their contract, paying significantly less in rent. Trump Tower then started making only $8 million in operating income annually.
But Trump had a $100 million loan against Trump Tower maturing in 2022, so he must have been paying millions annually in interest just from that. According to what I read on a CNN article, the loan had a 4.2% interest rate. So, $4.2 million gone just from that.
Nobody makes deals like him. Especially not Obama.