What a beautiful, beautiful article. This just filled me with glee.
"The Financial Minefield Awaiting an Ex-President Trump"
Excerpt:
"Not long after he strides across the White House grounds Wednesday morning for the last time as president, Donald J. Trump will step into a financial minefield that appears to be unlike anything he has faced since his earlier brushes with collapse.
The tax records that he has long fought to keep hidden, revealed in a New York Times
investigation last September, detailed his financial challenges:
Many of his resorts were losing millions of dollars a year even before the pandemic struck. Hundreds of millions of dollars in loans, which he personally guaranteed, must be repaid within a few years. He has burned through much of his cash and easy-to-sell assets. And a decade-old I.R.S. audit threatens to cost him more than $100 million to resolve.
In his earlier dark moments, Mr. Trump was able to rescue businesses he runs with multimillion-dollar infusions from his father or licensing deals borne of his television celebrity. Those lifelines are gone. And his divisive presidency has steadily eroded the mainstream marketability of the brand that is at the heart of his business.
That trend has only accelerated with his evidence-free campaign to subvert the outcome of the presidential election, which culminated in the Jan. 6 assault on the Capitol. In its wake, his last-ditch lender vowed to cut him off. The
P.G.A. canceled an upcoming championship at a Trump golf course, and New York City moved to
strip him of contracts to run several venues."
Baseless election fraud claims and the Capitol riot have compounded already-looming threats to his bottom line. And the cash lifelines he once relied on are gone.
www.nytimes.com