Slate Money
Money Talks: How Did Trump Scam America? Lots of Luck.
Oct 22, 2024
Russ Buettner and Susanne Craig, Pulitzer Prize-winning investigative reporters from the New York Times, dive into the financial fabrications of Donald Trump. They unravel the myths about Trump's business success, revealing his reliance on familial wealth and media hype. The duo discusses Trump's real estate failures, his perilous relationship with his father, and the elusive nature of his financial acumen. From failed ventures to the branding that catapulted him into fame, they dissect how deception played a key role in Trump’s public persona.
47:11
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Quick takeaways
- Donald Trump's business failures were largely mitigated by his inherited wealth and luck, rather than genuine entrepreneurial talent.
- His transformation into a public figure through 'The Apprentice' allowed him to maintain the illusion of success amidst financial shortcomings.
Deep dives
Debunking Trump’s Business Genius Myth
Investigative reports reveal that Donald Trump is not the savvy businessman he claims to be, but rather an exceptional self-promoter. While he displayed some construction management skills, his projects often faced budget overruns and significant financial challenges. Starting in the mid-1980s, Trump's unrestrained ambitions led him to pursue ventures independently, resulting in an array of financially strenuous projects, including an airline and lavish casino developments. This trajectory of inflated costs and unsuccessful ventures predominantly stemmed from his belief that he could succeed without the support of experienced partners.
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