Original title: The epidemic hurts the family business, but this is not yet Trump’s “heart trouble”
On March 21st, local time, Trump held a press conference at the White House.
At the meeting, when asked about “the impact of the pandemic on many of his business, and especially on Trump Hotels,” U.S. President Trump said, “When you decide to shut down your hotels and businesses, I It will not be said that it is prosperous, the new crown pneumonia epidemic hurt me, hurt Hilton, and hurt all the big hotel chains in the world. ”
Seeing that the family business was hurt by the epidemic, Trump seemed to clearly feel the “power” of the new crown pneumonia epidemic this time.
How much Trump’s family business has been hurt?
As of now, there is no accurate data on how much damage Trump’s family business has suffered.
However, the exact news is already known that the family’s Trump International Hotel Las Vegas and others have closed.
To be precise, the Trump family’s business is not under Trump’s control. Before Trump took office, he had given the business to his two youngest sons, Donald Trump Jr. and Eric Trump.
So when asked if he or anyone else in the government had talked with his family business (Trump Group) about the potential impact of the outbreak, Trump said he only talked to his sons, but his tone was like these Business “has nothing to do with yourself.”
According to a previous report from CBS, Trump has more than 500 companies in at least 25 countries around the world.
As a family business, Trump’s Trump Group operates real estate, casinos and restaurants around the world, and founded Trump Entertainment.
After Trump began his presidency in 2017, he once “officially announced” and “cut” with his “business empire” and handed the company over to his children. As a sign of “sincerity”, Trump won a total of nine companies to dissolve or close after the election.
But such a large-scale family business is not so easy to “cut” clearly.
Although Trump has cut management from the family business, his equity remains. Even after taking office, Trump himself has claimed more than ten billion dollars.
However, before Trump came to power, Forbes released a figure of $ 3.7 billion in September 2016.
A report on the president’s personal property disclosed by the U.S. Federal Office of Ethics in June 2017 revealed that Trump’s total assets were at least $ 1.4 billion. The financial report is 98 pages long and the disclosure time span is from January 2016 to April 2017.
In the latest 2020 Hurun Global Real Estate Rich List released by the Hurun Research Institute, Trump ranks 86th in the world’s real estate entrepreneurs with total assets of 21 billion yuan.
In any case, it is not a small number.
In Trump’s family business, the hotel is a signboard, and the Trump Group owns many hotels around the world. Trump also praised himself at this press conference, “I have a lot of hotels. Everyone knows that when I was elected I had a lot of hotels. I was a successful person when I was elected.”
In the current situation, Trump’s family business, especially hotels involved in the tourism industry, will obviously not be damaged, and with the development of the epidemic, losses are likely to increase.
Businesses were affected because they missed the time window for epidemic prevention.
It now appears that American companies, including the Trump family business, have been hit by the epidemic. The reason is largely because the Trump administration has missed an important time window for epidemic prevention.
As of now, the real-time statistical system of new coronary pneumonia data released by Johns Hopkins University shows that the number of confirmed cases in the United States has exceeded 30,000, and China and Italy have become the third most confirmed cases in the country.
The number of confirmed cases in the United States is growing at an alarming rate, but future trends may be more severe.
According to the New York Times, outbreak predictions made by researchers at Columbia University through mathematical models show that the current outbreak in the United States is only in its infancy, with peaks not arriving until May at the earliest. If there is no control at all, the number of new cases on the peak day can reach 500,000; if some control measures are taken, the peak daily increase will also be close to 300,000.
If that is the case, it will be a challenge for Trump and his administration.
It is important to know that, on March 13, local time, 52 days after the first confirmed case of New Coronary Pneumonia in the United States, when Trump declared a “national emergency,” the cumulative number of confirmed cases in the United States was only 1,701.
Looking back, the Trump administration’s actions were indeed slow. Many American media even thought that the Trump administration “wasted two months.” Trump had previously despised the risk of the spread of the epidemic.
Now that the epidemic is impacting the economy, it is necessary for all walks of life to “pay the bill”.
According to Bloomberg, as the epidemic hits the hotel industry, global giant Marriott International will have tens of thousands of hotel employees on unpaid leave. Marriott has 7,300 hotels worldwide, ranking first in the world in terms of hotel operation revenue.
According to a report submitted by hotel industry executives to the White House, the outbreak of the new crown pneumonia epidemic has cost US hotels $ 1.4 billion a week because the epidemic overwhelmed travel demand.
Both Marriott and MGM Resorts International are seeking government support. Trump also said that he did not know how his family business could be supported by the government.
Trump’s “big trouble” is not just a family business.
For Trump, family business is not his “big trouble”. For him, the election is even more important.
For his intensive campaign for re-election, the rapid spread of the epidemic will bring about unknown troubles and may even break his re-election dream.
Earlier, capital markets had issued serious warnings to Trump.
The U.S. stock market melted down four times, shocking Buffett, who has seen a lot of time. Within four weeks, the Dow Jones Index plummeted to 10,000 points, completely eradicating Trump Trump ’s “Trump Bull” since taking office, and turning it into “Trang.” “Pu Xiong”, the conversion of bulls and bears is too rapid.
Of course, this conversion is not entirely due to the epidemic situation, but it will be “backed up” by the epidemic situation.
With the peak of the epidemic, it will certainly have a greater impact on the US economy. Regardless of the end result, Trump’s road to reelection can no longer be as optimistic as when the epidemic had not spread.
□ Ren Mengshan (column writer)