Why Would a Billionaire Charge the Secret Service $650 a Night?
FEBRUARY 7, 2020
David A. Graham
Staff writer at The Atlantic
Last year, Eric Trump was asked about Secret Service protection at Trump Organization properties.
“If my father travels, they stay at our properties for free,” he said. “So everywhere that he goes, if he stays at one of his places, the government actually spends, meaning it saves a fortune because if they were to go to a hotel across the street, they’d be charging them $500 a night, whereas, you know we charge them, like $50.”
You will be stunned to learn that this is not remotely true ...
Trump may well be worth billions on paper, but his empire is built on borrowing; he once called himself the king of debt. That means he has to service his loans, for which he needs cash. But several of his businesses seem to be struggling to bring in money, which could mean he struggles to move cash out the door too ...
... Trump has spent roughly a third of his presidency staying at his own properties, and all the nights there start to add up to a steady stream of cash coming in, from captive buyers ...
https://www.theatlantic.com/ideas/archive/2020/02/why-does-billionaire-charge-secret-service-650-night/606253/
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