We have all watched as Donald Trump and his family have used the Oval Office and the media exposure it brings to boost their hotel enterprise. We’ve all seen how much the Secret Service has to spend at Trump’s properties to the tune of millions.
But now due to Coronavirus, Trump and the Trump Organization are in serious trouble. Trump just happens to be in one of the hardest hit businesses when it comes to the virus, which is the hotel industry. Even worse for Trump is that him and his family have “luxury” hotels that charge outrageous prices, which are going to feel the pain the most as people cut back.
Multiple sources are reporting that the Trump organization is now losing about $1 MILLION every single DAY because of Coronavirus. “The coronavirus outbreak is costing Trump Organization properties more than a million dollars in lost revenue daily,” The conservative leaning Wall St Journal reported today.
They also reported that Donald Trump makes roughly “half” of his income from golfing as well, which could also take a huge hit. The damage the Trump Organization is all over the place, including them having their only potential buyers back out of buying the Trump International Hotel in Washington, D.C. for up to $350 million. One source said the hotel has had as few as 11 guests in the entire 263 room property.
We know all about Trump’s foreign loans from Deutsche bank. He is one of the most levered up people in the entire world. The odds that Donald Trump will have to declare bankruptcy are incredibly high because there is simply no way such a levered up, debt ridden hotel organization can survive with all their hotels empty.
It also helps that House Majority Speaker Nancy Pelosi made sure Trump and his properties were banned from getting any aid from the $2 trillion stimulus package congress passed last week. Forbes reports that if Trump really was worth a few billion before Coronavirus, which is possible due to all the grifting since he’s been in office, by now he has lost at least a billion in net worth due to his crumbling businesses. Can’t say we feel bad!