Not Just Truth Social – Trump’s Other Businesses Are Tanking Too!

Donald Trump’s problems with Truth Social failing are well known, but most people may not realize that many of Trump’s other business ventures are also going down the tubes. For example, his most prized possession is dangerously underwater financially. That would be his skyscraper at 40 Wall Street, where the value is now more than $2 million less than what he owes on it, and revenues continue to drop at the property. Ring of Fire’s Farron Cousins explains what’s happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Now we all know that Donald Trump's Trump media and technology group is basically a dying business. I mean, hell, from the moment it was found that it was basically a dying business. But now of course, the numbers and the stock price back up. The fact that this thing is just dead on arrival. So Trump's business is failing, but don't worry, right? Because he is got a bunch of other businesses. He is a really smart business guy. Yeah, he is not in any kind of trouble, right? Well, according to a new report from Forbes, his other business is also not doing good at all. In fact, Donald Trump's most prized possession. His 63 story skyscraper at 40 Wall Street in Manhattan is now underwater. I mean, not literally, but figuratively. Financially, it is underwater

It is currently worth $2 million less than the 118 million that Trump owes on it. And he had taken out $160 million mortgage. So he had 160 million. He still owes 118, but the thing's only worth 116. So it, even if he weren't underwater, uh, you still, you still lost $44 million on it, bud. I mean, a high rise in Manhattan in a prime location, and you can't even turn a profit on it. And by the way, that's just the tip of the iceberg. It gets so much worse. The building is simply not earning enough money to cover the loan, adding to the headaches. Trump who doesn't own the land on which the building sits, has just nine years left until the ground rent escalates dramatically. Trump with 566 million of legal liabilities and just 413 million in cash, will reportedly have to pay his $118 million debt to ladder capital by July of next year. So he is got less than a year to pay off the remaining $118 million. And when you look at the cash on hand, when you look at what he owes in the, you know, verdict against him, uhoh, you can't pay. You can't pay your rent. Dude, the building's operating income has nearly halved from about 21 million in 2018 to 12.8 million in 2023, according to Forbes. That leaves the Republican presidential candidate in a tough spot as the November election approaches short on funds to save one of his prized possessions.

And it gets worse. in 2033, the German company that owns the land underneath 40 Wall Street is scheduled to implement a near sixfold increase to the cost of Trump's lease. That shift would cause Trump's ground rent to soar from 2.8 million in 2032 to 16.3 million the following year. And what I love about this story, it gets worse, if the rest of 40 Wall Street's financial picture remained the

Same as it is today, that would leave Trump with a negative $5 million in net operating income in 2033. So next July, he can either seek another loan, use his own money, or declare bankruptcy on the property. Yeah. Turns out this really smart businessman is just not good at business, right? I mean, that's the conclusion I'm drawing from this. You look at truth social, you look at Trump Airlines, Trump University, Trump vodka, Trump water, his casinos. I mean, ca you bankrupted casinos, man. People go in and just money, money, money. Go and go and go into the casino and you can't even make a profit off of that. Yeah. Um, I think the myth has been busted that Donald Trump is somehow some kind of savvy businessman with knowledge that the rest of us mortals could never possess. Nah, the guy's an idiot that apparently destroys every single thing that he touches.