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COMMENTS:
While researching the book, O'Brien travelled with Trump in Ferraris, private jets and stayed in $US2000 ($2700)-a-night hotel rooms.
This was despite O'Brien reporting on the bankruptcy of Trump's casinos. Trump decided to co-operate, he said, because, "it's almost like a competitive thing with me. I almost wanna see if you can get Trump."
At the same time, Trump promised to "attack the s--- out of it" if the book was negative.
The book was published last October, and it certainly was negative.
As Trump remarks in O'Brien's book, people don't want to buy negative books about him. So O'Brien's effort seemed destined to gather dust, while Trump's own How to Become a Billionaire books continued to sell in the millions.
Then a few weeks ago, Trump filed a defamation action in New Jersey, demanding $US2.5 billion in compensatory damages and $US2.5 billion in punitive damages against O'Brien and his publisher Warner Books.
O'Brien alleges in his book that while Trump is a good builder, he's not much of a businessman, and that he used the publicly traded Trump casino company as a personal piggybank.
What really upset Trump was the allegation that he is not a billionaire. The book quoted anonymous sources saying his net worth was $US150 million to $US250 million.
Many of Trump's businesses - from The Apprentice to speaking engagements, books and even a line of clothes - are built upon his reputation as a successful billionaire. Being a mere millionaire might puncture the brand.
The difference between what O'Brien calls Trump's "verbal billions" and money in the bank is more than small change. Trump maintains he is worth $US6 billion or more.
He told O'Brien that his net worth was $US4 billion to $US5 billion. But on the same day, he told him that his casino holdings represented 2 per cent of his worth, which would make him worth $US1.7 billion.
Much of Trump's businesses are private, making them very difficult to value. But his casino holdings, being publicly traded, are valued by the stock market. A few months later Trump upped his wealth to "five to six billion".
The Trump organisation gave O'Brien a list of assets which added up to $US5 billion, but which O'Brien said had inflated values and included assets Trump didn't own.
Don't mean to be picky, but whats with the capitals on your ballot heading?
Think about it
We'll probably never really know. Forbes says he is. This guy uses anonymous sources in his book. They could be anyone including a Waiter at a Trump casino.
Not sure, but it seems he's had quite a few money problems over the years. Back in the late 80's or early 90's I remember him being nearly a billion in debt...
by MO_ on Tue Sep 05, 06 8:01pm
[+]
Voted : Does it matter?
It doesn't mean a bean if you are morally bankrupt.
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