Becoming the President of the United States can have its benefits, and one of them seems to be the potential for boosting business assets due to the prestige associated with the title.
In a recent AP News report, it was revealed that a group of executives in the Trump Organization had considered adding a “presidential premium” to enhance the net worth of Donald Trump in financial statements.
During the recent court battle between Trump’s attorneys and attorneys from the state of New York, revelations have emerged regarding how a group of executives discussed the idea of using the presidential title to increase the value of some of Trump’s assets.
In his testimony, Birney, a former executive of the Trump Organization, indicated that Trump executives began to contemplate a potential “presidential premium” as they sought ways to recover losses incurred from correcting the size of Trump’s 10,996 square-foot Manhattan penthouse, which had been mistakenly valued for years at nearly three times that square footage.
Due to the ongoing trial, the Trump Organization appears to be facing difficulties, as the judge in the case has already issued orders for the Trump Organization to cease business operations in New York. This order is currently on hold, pending an appeal by Trump’s attorneys in the case.
The concept of a “presidential premium” appears to be adding to the case against Trump and his business, as the case revolves around allegations of business fraud.