History is bearing out the notion that Donald Trump sees himself mostly as a business man. Everything he engages in, including politics, seems to have a “for profit” monetary priority.
History moreover says that as a business man, Trump has been a major failure on occasions. At the same time, the record additionally indicates that he has found a way of making money from his business failures.
His political career is mirroring much of the same trajectory as he seems to handle his politics as a “profit-making” business. By whatever means, he has found a way to convert his most serious loses into some sort of personal and financial gain.
The highlights of Trump as a businessman include 6 Chapter 11 bankruptcies which wiped out much of his debt while most often leaving his creditors holding the bag. For example, a little over a year after he opened the Taj Mahal in Atlantic City in April 1990, he filed for bankruptcy and, a year after that in 1992, his two other casinos declared bankruptcy.
In 2004 the Trump Hotels and Casino Resorts filed for bankruptcy again, and in 2009 Trump Entertainment Resorts also declared bankruptcy. Altogether, his 6 bankruptcies cost investors 4.7 billion dollars while, at the same time, creating a fortune for Trump valued closed to what his fellow inves- tors lost.
When Trump decided to enter the race for President in 2015, he chose to portray himself as a self-made billionaire that would be his own person and would finance his campaign rather than rely on donors. That quickly changed as money became available by the tens of millions not only to run his campaign but also to fill the coffers of his vast hospitality and entertainment empire that charged for the use of his facilities not only to his campaign but also to other followers seeking his favor.
He lost the popular vote in the 2016 election. However, with the help of disinformation attacks by allies including the Russian security services, he squeezed out an electoral college victory over Hilary Clinton who would have been the first woman elected President.
Once elected, President Trump refused to divest of his primary business that went on to make a fortune during his tenure in office. In analyzing property records, ethic disclosures, debt documents and security filings, Forbes Magazine headlined that “Trump Businesses Hauled in $2.4 Billion During Four Years He Served as President.”
President Trump lost his reelection bid in 2020 but manage to make a large portion of Republicans go along with the idea that he had won and that the election had been stolen. In the process, he gained absolute control of the Party and its fundraising mechanism exclusively for the benefit of of the 2024 presidential campaign.
Furthermore, his campaign has asked that fundraisers for state and local candidates using his “name, image or likeness” send at least 5 percent of the proceeds to the Trump’s Joint Fundraising Committee. Although it has been generally stated that the former President is running to win and thus avoid many of the criminal charges and indictments lodged against him, it is also becoming obvious that he sees politics as a powerful way to make a lot of money.
Donald Trump is a very rich man and has made it very clear that he sees himself among the wealthiest in America and the world. In this context, the “winning by losing formula” includes converting his many failures to cash and the power it offers.
The views expressed by David Conde are not necessarily the views of laVozColorado. Comments and responses may be directed to news@lavozcolorado.com.
