The Financial History Of Donald Trump

The New York Times cites more than one hundred thousand pages of documents, including confidential tax returns and financial records, that were provided to the Times by secret sources. Based on the personal financial history of Donald Trump, the self-made billionaire and Republican Party presidential candidate.

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Donald Trump’s Stunning Inheritance

The documents show that Trump earned $200,000 a year at age 3 from his real estate developer father Fred Trump, measured in today’s dollars.

Trump said he came to real estate because he joined the company as an apprentice in the early 1970s, after a brief stint as a waiter at a restaurant in New York.

The Financial History Of Donald Trump

Biographers attribute much of Trump’s wealth to gifts and inheritances left to him by his father Fred Trump, who founded a real estate empire in New York City as per Investopedia. As a businessman, Donald Trump has had the opportunity to brand himself and his name on multiple platforms, including “The Apprentice.”

Donald J. Trump is on his way to becoming President of the United States after his successful race for the White House in the 2016 presidential election.

As president, his continued business interests have raised concerns that his policies and profits may violate the Constitution’s remuneration clause.

His Earlier Financial Situation

Trump’s financial situation became so bad that Fred Trump bought more than $3 million in casino chips to help his son pay interest – a move that was later punished as illegal borrowing. Miller Center reported that the lender forced his son to sell assets including his yacht, Trump’s shuttle airline, and he had to agree to live on a budget.

That safety net disappeared after Trump and his siblings officially took over the family business in 1997 and after his father died in 1999.

A 1993 biography of Trump was unflattering, called “The Lost Tycoon,” and said Trump made himself a public laughing stock. Trump’s financial troubles continued: his flagship company filed for bankruptcy in 2008, while he resigned from his post as chief executive of Trump International Hotel and Casino in 2009.

According to the New York Times, bankers went so far as to describe widespread dislike of lending to Trump as “The Donald’s Risk,” describing it as a “widespread dislike” of lending to Trump.

Trump’s Financial Situation Today

Trump has marketed his name in numerous other companies, including an online education company that focuses on real estate investment and entrepreneurship. One banker told The Atlantic in 2013: “Whoever is in Chase or Goldman or a law firm or something, they want to have a building built.”

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The Donald was the main beneficiary of those transfers, receiving $413 million in 2018 as per Britannica.

The latter firm, which ceased operations in 2011, was at the center of a lawsuit against Trump over alleged fraud related to the sale of Trump Tower in New York City. After initially denying the allegations, Trump settled the lawsuit in November 2016 for $25 million.

This means that Donald Trump tried to take advantage of Fred Trump to help him get out of trouble. He became his father because he had helped his son with so much money for so many years.

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Trump Cuts Off WHO’s Funding- WHO Responds

The President of the United States, Donald Trump has announced that he will be cutting the funding for the World Health Organization, WHO at a press conference on Tuesday. The Director-General of the organization, Dr. Tedros Adhanom Ghebreyesus has given his response towards it.

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According to RT, Dr. Tedros said that WHO regrets the decision of President Trump to cut off their funding, he further said that the organization’s work on fighting the outbreak will be reviewed by WHO’s member states and independent bodies, and this is so as to make sure that they are clear and responsible. Dr. Tedros also thanked the countries who have shown support for WHO, and he said that they are striving to fight against the outbreak of covid-19 and that is where their focus lies. Moreover, the United States accounts for 90% of WHO’s payment.

President Trump’s Defense and Reason

President Trump has pointed out his reason for cutting their funding. He claimed that WHO had had a delayed response to the outbreak and had caused the deaths of many lives.

Trump cuts off WHO’s Funding- WHO Responds

He also stated on his Twitter page that even though the United States is funding WHO the most, the organization is very China-centric. Furthermore, WHO had actually suggested that President Trump should keep the United States border open to China and they questioned his decision to place travel restrictions on China at the start of the outbreak in China. Fortunately, the President had rejected their suggestion, but he told them how they were supporting the Chinese too much.

The blame game

TheGuardian stated that President Trump’s act of saying that he is going to cut off WHO’s funding is international vandalism and an act of moral misconduct. Moreover, he cut off their funding when their work is most needed by the whole world. However, it is also understandable that WHO is also at fault since they advised President Trump to open the Chinese borders, they have recently seemed to support China and they also didn’t receive the outbreak well. Furthermore, worldwide the United States currently has the highest number of covid-19 cases deaths.

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However, many blame President Trump for the way he received the outbreak, and since he didn’t place the travel restrictions on the Chinese until January ending. He said that the Trump administration will review the World Health Organization, WHO due to the fact that it didn’t do its basic duty of protecting the world and fighting off pandemics like covid-19.

President Trump further said that their mind will be made up of whether they will continue funding WHO or not after the period of 60 to 90 days. The United Nations Secretary-General, Antonio Guterres has responded to Trump’s action that the international society should be united and work hard to fight the corona virus and stop it completely. He added that he believed that the WHO has to be supported so as to put a to covid-19.

The BBC reported that the founder of Microsoft, Bill gates tweeted that cutting the WHO’s funding during a pandemic is as dangerous as it sounds. After the United States, the Bill and Melinda Gates Foundation is the WHO’s second-biggest funder.

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Coronavirus Deaths Top 10,000 In The US, Trump Sounds Cautious Call For Curve Flattening

Deaths due to Corona virus have topped 10,000 in the US. New York and New Jersey were hit with the most cases of Corona virus. Bloomberg uploaded a video about Trump addressing the issue. Trump said that they need to flatten the curve so as to fight the virus.

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He stated how they have sent military and medical health professionals to New Jersey, Connecticut and New York. He further stated that cargo planes have delivered almost 3,000,000 gloves, 8,000,000 masks and 3,000,000 gowns to hospitals all over the nation. He said that he hopes that they are flattening the curve by taking these actions.

After the video which was made on April 5, the news website stated that the governor of New York, Andrew Cuomo said that deaths may mean hitting a plateau. However, the deaths on April 6 decreased slightly. So that means April 5 had more deaths than April 6.

He further said that maintaining social distancing is a challenge. However, if it is not maintained then it could lead to an increase in the spread of the corona virus. Additionally, he increased the fine for social distancing violations to $1,000.

The Rest Of The United States And Their Actions

The other states in the United States are giving their help to New York since it is experiencing a supply shortage. Governor Andrew Cuomo said that Oregon wanted to provide 140 ventilators to New York state, and California is planning to give a loan of 500 ventilators which are state-owned to the national stockpile.

According to Aljazeera, United States is the third highest nation with the most deaths from Corona virus. Italy and Spain are the first and second nations that have the highest amount of Corona virus deaths.

On Monday, United States has started experiencing a peak death week of the corona virus as an official called it, and over 90% of Americans are under orders to stay at home. Furthermore, test results take too much time before they come out, and results need to be known early.

Bill De Blasio, the governor of New York has that even though many ventilators and other machines have been delivered through out the state, it still requires 1,000 to 1,500 more ventilators to be distributed by Sunday reported by NBCNEWS.

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What Doctors Have To Say

A general surgeon, Jerome Adams adviced Americans to stay indoors and to practice social distancing. He even sympathized with everyone and stated that he understood how it could be to be cooped up, but to flatten the curve, everyone has to follow through.

Dr. Andrew Fauci has said that the American nation is fighting to control the outbreak of the corona virus. He further said on CBS news that it may become worse and we need to be ready to face it. Additionally, veterans are also being affected greatly by the virus. On Sunday, 2,699 cases have been confirmed among veterans and 103 deaths.

The health department has stated that on Monday night, New York City had recorded 2,738 deaths due to the corona virus. As earlier mentioned, New York, New Jersey and California are the most hit states, and they need to take social distancing more seriously.

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