Trump Deposition Nets Valuable Lesson His Wealth

Remember how Donald Trump was suing a NY Times business editor Timothy O'Brien and the publishers of his book, TrumpNation: The Art of Being The Donald, for $5 billion, because The Donald felt it misstated his wealth by billions (Smith's estimate: $150-250 million)? Well, as a hearing is scheduled to take place today, the Wall Street Journal pored over a 2007 deposition that Trump made about his wealth. He said, "My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feeling," and when asked if he's "familiar with the concept of net present value?," Trump replies, "The concept of net present value to me would be the value of the land currently after debt...Well, to me, the word 'net' is an interesting word. It's really — the word 'value' is the important word." Ever the cheerleader, the real estate developer explains, "Would you like me to say, oh, gee, the building is not doing well, blah, blah, blah, come by, the building -- nobody talks that way. Who would ever talk that way?" [via Daily Intel]

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By Jen Chung in News on May 18, 2009 1:32 PM

Comments [rss]

NannyState

We've had that "short-fingered vulgarian" under this microscope for years and all he does is hem and haw and fidget about his "billions" while another chunk of his empire goes under. It's a gimmick designed to keep the euros pouring into his branded condos so he can send another check to his angry creditors. He's a whore and his pimps in Dubai and Hong Kong would rather we changed the subject...

ANGRYGOD11

The Donald doesn't drink. His brother died of alcoholism. The Donald has his own brand of vodka on the market. Somehow I doubt real billionaires like Gates or Buffet have the time nor interest in shilling vodka.

Steven

Trump is a self righteous arrogant prick.

felixthecat2

Regarding the posted picture, i wonder if Larry Kind found a birthmark spelled 666?

Son of Spam

He's actually looking for the missing word from the headline.

felixthecat2

lol

billybob

Funny how by asserting himself in this way against the author of Trumpnation he reaffirms what the author and everyone else knows, the guy is a class A asshole. This is the guy who after the stock market crashed in '87 gets on the news to let everyone know "he got out in time" and then after Bernie Madoff gets on CNN to let everyone know he didn't invest with Bernie.

JenChungsBaby

I don't understand the basis on which he's suing the journalist. Because he underestimated his net worth? Even if that's true, what damages did Trump sustain? Was he slandered, de-famed, libeled? Did he lose money as a result of the guy saying he's worth less? I don't get it.

Jen Chung

WSJ: "He alleged damage to his reputation that caused him to lose out on future deals in locales from Philadelphia to Kiev." Which inevitably reminds me of Rochelle, Rochelle: "A young girl's strange, erotic journey from Milan to Minsk."

JenChungsBaby

Thanks Jen. Gonna be hard to prove that those deals fell through because of the writer allegedly understating his net worth.

I had one brush with Trump. My wife I were waiting to be seated at a fancy midtown French restaurant when Trump walked in and tried to get the maitre'd to seat him first. The maitre'd refused and took us to our table while Trump waited. Then he sat at the table right next to us. Cracked me up.

SP

Only explanation is, he's broke. Trying to hustle some cash by any means.

penetrode

correct the title please.

Global Wombat

Basing your tangible worth on feelings may work in Care-a-lot , but no so much here.

penetrode

correct the title please.

FrankMartin

He has got to be broke after all assets and debts are figured. Why else is he doing that TV show, he needs the income!

Mactard

I would advise all remaining Trump investors to bail out since Trump has creative valuation methods based on his own feelings. BUSTED.

Brainwash

Huh?

SP

What an asshole. And a hypocrite. Reminds me of Bill Clinton and his waffling over semantics and how Republicans were all over him for that. This piece of shit considers himself a prominent businessman and he can't give a straight answer as to the definition of "net present value?" Turd.