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Trump Organization is in financial freefall as the Bigly One returns to the helm

2 min read

The losing continues with a 35% decline in revenues for 47 entities as Ahab returns to his white whale. Banks are bailing out on Trump as loans will be coming due. “Trump’s dealings with Seven Springs are the focus of two state-level investigations, by the Manhattan district attorney and the New York attorney general.”

Donald Trump returns to his company this week as it faces a deepening crisis, with key properties bleeding revenue and its bankers, lawyers and customers fleeing the company.

Financial disclosure forms, filed by the former president as he left office, revealed that his hotels, resorts and other properties had lost more than $120 million in revenue last year, as the pandemic forced long-term closures and kept customers home.

Those losses were worst in the places where Trump could least afford it: His Washington hotel, which has a $170 million loan outstanding, saw revenue drop more than 60 percent. His Doral resort in Miami — also carrying a huge debt load — saw a 44 percent drop.

[…]

In the immediate wake of the attack on the Capitol, the Trump Organization lost two of its real estate brokers, its e-commerce vendor, its chance to host the 2022 PGA Championship golf tournament, and its hopes of hosting another golf tournament, the British Open. Also, New York City said it will end the Trump Organization’s contracts to run a carousel, two ice rinks and a golf course in city parks — contracts that brought the Trump Organization $18 million in 2019.

www.washingtonpost.com/…

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Trump cannot maintain the electoral fiction and resurrect his failing company concurrently considering that the creation of a media company depends on keeping his autocratic hopes alive for 2024. In the short run, the formation of a third party is a heavy lift even if support comes from foreign sources and new populist grifts.

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