Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success by Russ Buettner and Susanne Craig (Book Review)

This book offers an in-depth look at Donald Trump—the businessman, real estate investor, entrepreneur, and brand. Much of the narrative focuses on his struggles to finance buildings, casinos, golf courses, and other projects. Despite his relentless self-promotion, Trump has repeatedly proven to be a poor businessman, often relying on his father, Fred Trump, to bail him out of financial trouble.

As you read, one question becomes unavoidable: Why would anyone choose to partner with Donald Trump? His track record as a business leader is riddled with failure, and those who have worked with him—contractors, lenders, and employees—frequently find themselves shortchanged. Why lend money to someone who appears to lack financial discipline in both his personal and professional life?

A Trump supporter might dismiss this book as misinformation, but the authors had access to extensive financial records, including Trump’s tax returns. Their research is bolstered by interviews with numerous individuals who have firsthand experience dealing with him.

The fact free bubble Fox News created around Donald Trump as president may have felt familiar. He had spent his entire life in a similar bubble, financed by his father. In this comfortable place, he could hide his failures, pay for them with his father’s money, and later a celebrity’s fortune. There would be no metrics measuring his success, just the impression of self created wealth that he willed into existence.From the moment he left his father’s careful planning practices behind, he protected his bubble by waging war on the fact based world that might pop it.

Trump’s failures in the casino industry in Atlantic City are well-documented. His attempt to buy an NFL franchise led instead to the downfall of the USFL. When journalists and analysts challenged his exaggerated business claims, he responded with lawsuits and intimidation tactics.

Perhaps his greatest success—if it can be called that—was The Apprentice, a reality show that portrayed him as a shrewd businessman with exceptional judgment. This carefully crafted image helped convince much of the public that he was a financial genius, a perception that played a crucial role in his 2016 presidential campaign.

The book is 456 pages long and thoroughly researched, with extensive footnotes to support its claims. In fact, published articles by the authors on Trump’s finances earned them a Pulitzer Prize.

I wish I could say this book might change the minds of his staunchest supporters, but realistically, many of them are unlikely to engage with a work of this length and depth.

The Price is Right (1970s edition)

I have maintained a personal journey since I was 16 years old. Here are some golden oldies on my entries on what prices used to be fifty years ago…Note gas prices…

March 17, 1973

A haircut cost me $4.25 today. I can remember when they were only two dollars. People are rightfully angry at rising prices and costs. Where does one begin to hold the line?

August 9, 1973

Pair of glasses cost me $44.

Friday, March 22, 1974

Bought an $85 suit on Monday. Pretty snazzy!

Saturday, December 7, 1974

Bought a 1973 Maverick. Price $2118.

Wednesday, January 29, 1975

Gas prices for regular run about $.47 a gallon right now on the average.

Tuesday, July 31, 1979

Prices:
Flounder $2.29 a pound
Eggs one dollar a dozen
Bread $.53 a load
Steak $2.49 a pound
Pepsi 64 oz. $.99
Lettuce $.59 a head
Milk $.86 for a half-gallon
Hamburger $1.99 lb.
Movies $3.50

Saturday, April 12, 1980

Price trivia:
Gas $1.27 per gallon unleaded
Egg McMuffin, hash browns, OJ $1.94
Sunday Inquirer $.60
Sunday Courier $.35
Gatorade $.69 a bottle