My Dad Gave Me A Small Loan of A Million Dollars....It Has Not Been Easy

[nuhuh]

Donald Trump's self-described net worth was $200 million in 1982. If he invested that money in the S&P 500, he'd be worth about $8.3 billion today. Today he claims his net worth is $8.7 billion....Regardless, the inescapable conclusion is that a very large percentage of his net worth is the result of inheritance and normal compounding.

In 1982, Trump appeared on the Forbes 400 with an estimated worth of $200 million. Trump at the time said he was worth $500 million, if he invested as you say the $500 million, it would be $20 billion today as the market has turned an annualized 11.86% using these calculations CAGR of the Stock Market: Annualized Returns of the S&P 500

 

[Rustic]

Its a strange world we live in. You will hear a person say their car/boat or house is worth X amount of dollars and that is crap. From the auction service I will just tell you the TRUTH. Value is set by what the buyer is willing to pay. Anything else is a guess.

That's an important fact of life. In a financial collapse your house, your boat, your airplane are worth exactly what someone is willing to fork out for.

And if you owe more than you can pay at any given moment, a fiscal gap is a fiscal gap.
America is debt addicted, and they need to stop cold turkey.

All these other so called problems are playing second fiddle...

 

[nuhuh]

He forgot to mention the $200 MILLION Fred left to him or that Fred made his money thanks to government programs.

He'll probably talk about those facts tomorrow.

Reminds me of when Mittens told people to just borrow from their daddy like he did.

This also doesn't take into consideration being raised ultra-wealthy with an education that is not reachable by most Americans.

Wow, what a hard luck story. If Donald had only inherited $100 million I can't imagine the pain he would have to endure. This ranks right up there with Mitt Romney quotes about asking your parents for a loan to start a business. One thing's for sure....Donald didn't build that.

"As Donald Trump tells it, he has been told no his entire life. For example, he said Monday, his father gave him a "small loan of a million dollars" that he had to repay with interest at the start of his career.

“Oh many times. I’ve been told no by him. My whole life, really has been a no," the Republican presidential candidate said during a town hall event in Atkinson, New Hampshire, on NBC's "Today."


“It has not been easy for me. It has not been easy for me. I started off in Brooklyn. My father gave me a small loan of a million dollars," Trump remarked. "I came into Manhattan, and I had to pay him back, and I had to pay him back with interest. But I came into Manhattan and I started buying properties, and I did great."


Read more: Trump: My dad gave me a 'small loan' of a million dollars

So? Are you pissed because his Dad could loan him a million dollars or are you pissed because he had to pay it back? Why are you pissed. Get it off your mind. Let us all know.

Well I'm not pissed at all, the U.S has almost 10 million millionaires this is not a rare occurrence. I just think his comment "It hasn't been easy" is a bewildering statement for someone who got a pretty huge step up in 1974.

That's the way I see it too.

But he did lie.

Weird thing about Drumpf is he lies about things that are easily checked. He didn't start with a million dollars and no one is stupid enough to believe he did when, up until now, he started with an inheritance of $500 million.

Now, suddenly, he thinks we'll believe he started with only one million?

An inheritance implies his father was dead....and from what I can tell his father was healthy and alive as he built his empire.....so yes...it is very possible he was lent the million dollars.....

All true, Trumps father didn't die until 1999, but Trump was president of the company by 1974 which means he had control of a very sizable fortune.

 

[nuhuh]

Its a strange world we live in. You will hear a person say their car/boat or house is worth X amount of dollars and that is crap. From the auction service I will just tell you the TRUTH. Value is set by what the buyer is willing to pay. Anything else is a guess.

That's an important fact of life. In a financial collapse your house, your boat, your airplane are worth exactly what someone is willing to fork out for.

And if you owe more than you can pay at any given moment, a fiscal gap is a fiscal gap.
America is debt addicted, and they need to stop cold turkey.

All these other so called problems are playing second fiddle...

Yes and no. America is a safe investment hence the predominance of risk.

 

[Rustic]

Its a strange world we live in. You will hear a person say their car/boat or house is worth X amount of dollars and that is crap. From the auction service I will just tell you the TRUTH. Value is set by what the buyer is willing to pay. Anything else is a guess.

That's an important fact of life. In a financial collapse your house, your boat, your airplane are worth exactly what someone is willing to fork out for.

And if you owe more than you can pay at any given moment, a fiscal gap is a fiscal gap.
America is debt addicted, and they need to stop cold turkey.

All these other so called problems are playing second fiddle...

Yes and no. America is a safe investment hence the predominance of risk.

The so called poor here have it gooood...

 

[nuhuh]

Its a strange world we live in. You will hear a person say their car/boat or house is worth X amount of dollars and that is crap. From the auction service I will just tell you the TRUTH. Value is set by what the buyer is willing to pay. Anything else is a guess.

That's an important fact of life. In a financial collapse your house, your boat, your airplane are worth exactly what someone is willing to fork out for.

And if you owe more than you can pay at any given moment, a fiscal gap is a fiscal gap.
America is debt addicted, and they need to stop cold turkey.

All these other so called problems are playing second fiddle...

Yes and no. America is a safe investment hence the predominance of risk.

The so called poor here have it gooood...

Trust me, the rich have it much much better.

 

[Rustic]

Its a strange world we live in. You will hear a person say their car/boat or house is worth X amount of dollars and that is crap. From the auction service I will just tell you the TRUTH. Value is set by what the buyer is willing to pay. Anything else is a guess.

That's an important fact of life. In a financial collapse your house, your boat, your airplane are worth exactly what someone is willing to fork out for.

And if you owe more than you can pay at any given moment, a fiscal gap is a fiscal gap.
America is debt addicted, and they need to stop cold turkey.

All these other so called problems are playing second fiddle...

Yes and no. America is a safe investment hence the predominance of risk.

The so called poor here have it gooood...

Trust me, the rich have it much much better.

Not a reason to redistribute though, taxes can't do that anyway they just make politicians richer.

We have bigger fish to fry like American debt...

 

[my2¢]

Perhaps all he really wanted was a pony?

 

[Delta4Embassy]

Wow, what a hard luck story. If Donald had only inherited $100 million I can't imagine the pain he would have to endure. This ranks right up there with Mitt Romney quotes about asking your parents for a loan to start a business. One thing's for sure....Donald didn't build that.

"As Donald Trump tells it, he has been told no his entire life. For example, he said Monday, his father gave him a "small loan of a million dollars" that he had to repay with interest at the start of his career.

“Oh many times. I’ve been told no by him. My whole life, really has been a no," the Republican presidential candidate said during a town hall event in Atkinson, New Hampshire, on NBC's "Today."


“It has not been easy for me. It has not been easy for me. I started off in Brooklyn. My father gave me a small loan of a million dollars," Trump remarked. "I came into Manhattan, and I had to pay him back, and I had to pay him back with interest. But I came into Manhattan and I started buying properties, and I did great."


Read more: Trump: My dad gave me a 'small loan' of a million dollars

Marie Antoinette said something like that...

 

[ninja007]

almost as bad as hill and bill making millions but saying they lived check to check. Not having to pay for anything in your life in lib friendly Wash. as well.

 

[Synthaholic]

I believe when Trump was given that cool million from Daddy Warbucks a Cadillac cost around $3,500. And I may even be over-estimating that price. Now, they are around $60,000.

 

[BluesLegend]

This thread is about Trump.

No its about liberal hatred.

 

[Procrustes Stretched]

The company I work at used to be family owned. As each "kid" reached 21, they were given a million dollars. True Story.

"It has not been easy for me. I started off in Brooklyn. My father gave me a small loan of $1 million"

Trump: All I had starting out was a ‘small’ $1 million loan from my father

It is difficult to to take this guy seriously

isn't life grand

 

[candycorn]

He forgot to mention the $200 MILLION Fred left to him or that Fred made his money thanks to government programs.

He'll probably talk about those facts tomorrow.

Reminds me of when Mittens told people to just borrow from their daddy like he did.

This also doesn't take into consideration being raised ultra-wealthy with an education that is not reachable by most Americans.

This part always troubles me. Okay; he started off with advantages others didn't have. That, in and of itself, shouldn't bury you any more than starting off with no advantages. I mean, if you're going to look down your nose at someone for being born into wealth, how are you (not "you" personally but "you" in the group sense of the word)--how are you any better than someone who looks down upon someone who was born poor? Neither baby asked for it.

As for taking his million and "doing terrific", good on him. I'm sure a lot of folks did in the 1980's in manhattan. Larry Silverstein of WTC7 fame did pretty well too whenever he got into it.
Now the question is whether or not it makes him smarter than the average investor or do we just know him better because of his dabbling in publicized industries/events like the USFL, sponsoring Mike Tyson's initial run, the books, the Trump University, the Apprentice and his stuff being sold at Macy's.

Numerous stories point out that his "ownership" of buildings is very shallow beyond his name being on them.

Donald Trump's investment portfolio a messy hodgepodge: advisers

Donald Trump Net Worth | Donald Trump Real Estate

The latter goes so far to state:

It’s not all theoretical. Trump has found numerous ways to monetize his brand. Most notably, he’s licensed his name to no less than 17 different kinds of products, from clothing and perfume to vodka and mattresses, as well as glassy high-rise towers as far afield as Istanbul and the Philippines.

At projects such as the Trump Soho hotel/condominium at 246 Spring Street (developed by a partnership between the Bayrock Group and New York City developer Tamir Sapir) Trump is paid for the use of his name, but does not invest any of his own capital. Trump sometimes manages these projects, as he did in the case of Trump Soho, and always takes a licensing fee of $5 to $10 million, according to news reports. In some cases, he also takes a portion of potential future sales at the building.

Basically, it's the same thing Britteny Spears did with her name when she "had" restaurants in New York and Miami Beach.

Hell, it's smart to parlay your name in the private sector. However, as President, the title will overshadow your name. That seems to be the cruxt of what he trades on; his name, and that will mean zilch as President.

 

[Mac1958]

From what I'm reading, I've got the feeling that the GOP "establishment" and its donors are gonna go after both Trump & Carson big time, and any time now.

Must-see TV, baby.
.

 

[CrusaderFrank]

Started with a million, turned it into over $4 billion.

That's America!

Actually he started with $1 million then another $500 million (according to him) on top of that. If he sold his real estate holdings and had indexed that money to Standard and Poors 500 he would have more than $20 billion. So say what you will, but Donald isn't that smart if he missed out on that much money.

So Hillary 1000 fold commodities run would make her the first trillionaire had she kept going

 

[Conservative65]

The company I work at used to be family owned. As each "kid" reached 21, they were given a million dollars. True Story.

What's the point? How dare a family give another family member something.

What scholarships didn't cover for my daughter's college, and it wasn't much, I paid on her behalf. Since what I had saved amounted to significantly more than what it costs me out of pocket, I also spent that on my family. How is that wrong? Are you saying the surplus should have been spent on someone else?

 

[Conservative65]

Wow, what a hard luck story. If Donald had only inherited $100 million I can't imagine the pain he would have to endure. This ranks right up there with Mitt Romney quotes about asking your parents for a loan to start a business. One thing's for sure....Donald didn't build that.

Trump: My dad gave me a 'small loan' of a million dollars

The company I work at used to be family owned. As each "kid" reached 21, they were given a million dollars. True Story.

The gall of those to have the wherewithal to help their kids and then do so!

What nerve!

Not for nothing, but isn't the whole idea of hard work, self-sacrifice and the success they might bring the basis of the American dream?

Sheesh!

And back in the day our greatest generation decided those with more would pay a little more to help the poor and create a middle class.

Just another example of those not doing the paying deciding that someone else they believed had too much should be forced to do so.

 

[CrusaderFrank]

If we gave each liberal here the same $1 million, after a year there'd all be dead broke surrounded by empty sterno cans, used condoms and their toothless crystal meth pals

 

[NYcarbineer]

If we gave each liberal here the same $1 million, after a year there'd all be dead broke surrounded by empty sterno cans, used condoms and their toothless crystal meth pals

My dad took out a $3500 loan in his name, for me, when I had some hard times back in the Reagan depression.

Now I'm comfortably retired on 2 pensions.