Robert Kiyosaki, a best-selling author and seasoned investor, has a distinct philosophy on debt and investment. In a Nov. 30 Instagram reel, Kiyosaki elaborated on his debt philosophy, highlighting a critical distinction between assets and liabilities. He said many people use debt to buy liabilities, while he uses debt to purchase assets. To illustrate his approach, Kiyosaki said his luxury vehicles, like a Ferrari and a Rolls Royce, are fully paid off, categorizing them as liabilities rather th
  • Flying Squid@lemmy.world
    313·
    11 months ago

    No bank in the world is going to hand anybody millions (never mind over a billion) without some reasonable assurance it can be paid back one way or another.

    You say that, but Deutsche Bank and others have been very happy to loan Trump money over the years and they must know he won’t pay it back.

    • RestrictedAccount@lemmy.world
      411·
      11 months ago

      … but Deutsche Bank and others have been very happy to launder payments from Russian mobsters via unpaid loans …

      FTFY

    • FuglyDuck@lemmy.worldEnglish
      71·
      11 months ago

      Some of those loans are predicated on extremely inflated business dealings. For example, in the NY fraud trial, the collateral was Trump’s properties. Some of those loans, as already mentioned, were also straight up bribes.

      also its extremely unlikely this guy is going to be somebody that people want to bribe. Remember, mortgages count against networth, so this guy isn’t that rich.

    • throwwyacc@lemmy.world
      2·
      11 months ago

      They likely make him pledge something as collateral. I doubt they’re just giving him unsecured loans just for fun

      • Linkerbaan@lemmy.world
        32·
        11 months ago

        No that’s because the fraud got discovered. Else they would still do business with Trump. They were likely giving Trump Russian money as “loans”.