The Cost of the Office? Trump's Billion-Dollar Loss
Trump, Inc.
WNYC Studios
4.6 • 5.7K Ratings
🗓️ 5 October 2018
⏱️ 14 minutes
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| 0:00.0 | Hello and welcome to Trump Inc. an open investigation from WNYC and ProPublica digging deep into the |
| 0:09.8 | business side of the Trump presidency. I'm Andrea Bernstein with this Trump Inc. podcast |
| 0:14.8 | extra. This season we've been looking at the people around the president and how they |
| 0:19.2 | might be profiting from their proximity to him. But at the center of our reporting is |
| 0:24.3 | the president himself. And that's why we found a new story from our friend Dan Alexander |
| 0:29.6 | at Forbes so fascinating. Dan's been tracking Trump's business, especially for the magazine's |
| 0:34.9 | Billion Nair List. And Dan reports that since Trump became president, his net worth has actually |
| 0:40.7 | dropped more than a billion dollars. Dan's story is called How Trump Is Trying and Failing to Get |
| 0:47.6 | Rich Off His Presidency. He spoke with one of Trump Inc's editors, Charlie Herman. |
| 0:53.5 | Dan, good morning. Yeah, thank you for having me. So how long have you been tracking Trump's wealth? |
| 0:57.7 | Well, Forbes has been tracking it since 1982. And that was the first year that we did the Forbes |
| 1:03.2 | 400. Donald Trump and his father Fred Trump were on it with a split fortune. So that's nice because |
| 1:08.8 | we have, you know, 37 years of history. I personally started on it once he was elected, |
| 1:14.1 | diving into the old files that we have, and then, you know, calling up a million additional |
| 1:19.1 | people to make it stronger. So what accounts for the majority of the drop-in value? Is it at the |
| 1:24.6 | condos you're talking about in New York City or the golf courses, you know, across the country and |
| 1:28.6 | in other parts of the world? So there are a couple of different factors here. Some of which are |
| 1:32.5 | market forces, some which are reporting forces, and some of which are what's the presidential effect. |
| 1:37.2 | And so if we look just at the presidential effect, you know, the biggest things are this golf |
| 1:42.7 | property, Durau, which is a resort down in Florida. It had done as much revenues as basically all |
| 1:49.1 | of his other US courses combined. So this is really the big one for him. And revenues down at Durau |
| 1:56.4 | have dropped significantly. That means that if somebody were to buy the course tomorrow, |
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