Much has been made of Donald Trump’s financial troubles in the wake of his corrupt and disastrous presidency, with $900 million in loans due to be repaid soon and his net worth supposedly dropping by $700 million during the course of his term in office.
Yet, despite the gloomy financial picture that Trump and his family now face, at least one member of his real-estate savvy family is raking in the bucks by selling property at an enormous markup from their purchase price relatively shortly after buying it.
According to the UK’s Daily Mail, Donald Trump Jr. and his girlfriend Kimberly Guilfoyle have reportedly sold their mansion in the toney climes of Bridgehampton, NY for $8.14 million after buying it for less than $4.5 million just two years ago.
The lavish estate that they sold consists of a 9,200-square-foot, seven-bedroom mansion, set on 3.9 acres, and includes a heated gunite pool and spa, a waterfall, and is within walking distance of the local beach, restaurants, and pricey luxury shops in the nearby village.
While it is not reported how much Junior and his paramour spent on renovating the property, the $3.6 million difference between the purchase price and the sales price likely includes a hefty profit for a property that appreciated so extraordinarily quickly.
Suspiciously, the Hamptons property was never publicly listed in the multiple listing service typically used by realtors, and the identity of the buyer is still not known.
Given the accusations that the Trump Organization was a facilitator for the laundering of foreign money that has perhaps less than legitimate sources, questions were raised about the transaction by the wags on social media.
Whomever the buyer of the property may be, Don Jr. and Kimberly should be left with enough money to put a substantial downpayment on their next home in Florida, where they are reportedly looking at property in Jupiter to be close to his dad at Mar-a-Lago and his sister and Jared at their property on an exclusive island known as the “billionaires bunker.”
An additional benefit for the couple of parking their real estate assets in Florida is the state’s generous protections for property owners in bankruptcy cases which shield debtors from the seizure of their homes to pay creditors — something that a person facing a slew of potential civil and criminal lawsuits would surely welcome.
And, as the prosecutors in New York state begin to unravel the newly obtained tax returns from Donald Trump Sr. and the Trump Organization, shielding his assets may be foremost on Don Jr.s mind right now.
Original reporting by Bevan Hurley at The Daily Mail.
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Vinnie Longobardo is the Managing Editor of Occupy Democrats. He's a 35-year veteran of the TV, mobile & internet industries, specializing in start-ups and the international media business. His passions are politics, music, and art.