How Donald Trump Made Billions From Politics
Forbes Daily Briefing
Forbes
4.6 • 12 Ratings
🗓️ 24 September 2024
⏱️ 5 minutes
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Summary
Plenty of rich people have blown fortunes on politics. But no other American has used politics to create as much personal wealth as the 45th president, who left office with a new asset — throngs of people willing to buy almost anything from him, at virtually any price.
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Transcript
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| 0:00.0 | Here's your Forbes Daily Briefing for Tuesday, September 24th. |
| 0:05.0 | Today on Forbes, How Donald Trump Made Billions from Politics |
| 0:11.0 | Donald Trump has built his entire brand around being a winner, but on January 20th, |
| 0:18.0 | 2021, he looked very much the opposite in every way possible. |
| 0:23.1 | Defeated by voters, then impeached a second time |
| 0:26.4 | after the capital riot he had fomented, |
| 0:29.0 | Trump arrived back in Palm Beach, Florida |
| 0:31.3 | to an empire in distress. |
| 0:33.6 | His commercial real estate was largely empty, |
| 0:36.2 | his hotel business bleeding tens of millions of dollars, |
| 0:39.6 | his licensing ventures at a standstill. A week later, Trump welcomed West Moss and Andy Latinsky, former apprentice |
| 0:47.7 | contestants, to his private club for a business pitch. Alongside hamburgers and ice cream, the apprentices presented |
| 0:54.5 | something that peaked the interest of the master. A Trump branded media and |
| 0:58.8 | technology company, complete with a social media app like Twitter, |
| 1:02.6 | a streaming service like Disney Plus, |
| 1:04.8 | and a web hosting platform like Amazon. |
| 1:07.2 | The most alluring part of the proposal? |
| 1:09.7 | Trump would get 90% of the equity, |
| 1:12.0 | and, according to someone involved in the deal, |
| 1:14.4 | did not have to invest a thing up front. |
| 1:18.3 | So began a four-year transformation that turned America's most famous real estate billionaire |
| 1:23.0 | into the first American ever to create billions from his politics. |
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