244
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 22 Feb 2024
244 points (96.9% liked)
News
23301 readers
3409 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
Can someone here sum up what happened as I can’t seem to find a simple answer online. I know he’s been done for fraud and fiddling his loans, but why does it add up to 355 million? I didn’t even think he was worth that much.
There are several deals he made that are, in the findings of the case, considered to have been facilitated by fraud. Since any income from these deals is therefore considered to be "ill-gotten gains", the full income from them is the amount in question here. So it's like, he defrauded people in order to sell $355m of property so he loses the income generated by that fraud
Depending on what you measure worth with, I'd argue he's not even worth talking about.
That said, he is said to be worth 2,6 bil in money
The thing is, when wealth like this is calculated, it includes assets. And the value of those assets can be self-reported (which was the whole issue of this case to begin with).
So is he worth 2.6 billion? Well, Trump claims that Mar-a-Lago is worth between $420 million and $1.5 billion. The judge in this case deemed it to be worth between $18 million and $37 million.
Trump is rich. Even if he has no cash of his own, he can always get some to continue to live his extravagant lifestyle because there will always be fools willing to give him money because they love him or shrewd people who give him money to control him... but his actual worth could be well below that.
His debt well exceeds his worth already. His four (five?) previous bankruptcies fell on other people so he got away with them.
These values are kind of bullshit though, same with Musk and Bezos. They're approximations of value, not necessarily what could be realised or the true value of their tangible assets. They're not really the wealthiest people in the world, they're simply the wealthiest people in the public eye.
True, and this is also, as far as I understand, what he has been accused of inflating in order to manipulate banks and business partners. This is also why I mentioned that his worth depends a lot on what you measure it with.