Creative Accounting

It was just said in the news that Donald Trump’s wealth has reached 6.5 billion dollars for the first time ever. This is enough to put him in the top 500 wealthiest people list for the first time. Just don’t expect that figure to stay at 6.5 billion dollars for all circumstances.

For instance, if some socialist put in place a wealth tax in the US, expect that 6.5 billion dollars to inexplicably become 78 cents. If you asked him to transfer all that wealth to you for a dollar, he’d say he can’t because there are too many liens against all that he owns.

If he wanted to take a loan out against all that capital, expect his net worth to suddenly grow. Suddenly he would be worth 15 billion dollars which would receive excellent loan rates.

He wants to be known as one of the wealthiest people in the world. That strokes his ego and also suggests some business acumen. But he had to eat crow when he was ordered to pay a bond above 500 million dollars by the court. Imagine his embarrassment that he could not pay this amount.

Lucky for the Donald, the appeal court changed the amount to 175 million dollars. An amount he says he can pay.

By the way this comes as a merger is completed. An amount that had been disclosed to be worth 22.5 million dollars is now valued at 4 billion dollars. How something can become worth 175 times what it was originally I will leave for you to decide.

Notice how his worth picks up just before he is in a federal election? Suddenly his business acumen looks just fine. That 175 times multiplier looks almost wizardly. Instead of what I choose to call it. I call it creative accounting. After the election, I wouldn’t be surprised if the Donald slipped out of the top 500 richest people. But that might be too late.

About Larry Russwurm

Just another ranter on the Internet. Now in the Fediverse as
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