“This Only Makes Sense To Dumb People”: Trump’s “Inconsistent” Mar-a-Lago Valuation Under Fire in Ongoing Civil Fraud Case

Michelle HollandNov 9, 2023

Minute Read

Donald Trump is expected to be confronted over inconsistent valuations of his Mar-a-Lago resort in Florida on November 13. Trump is currently on trial in New York for business fraud following a lawsuit filed by New York Attorney General Letitia James last September.

The $250 Million Lawsuit

James brought the lawsuit against Trump, his two eldest sons, and his organization, accusing them of misrepresenting his net worth and inflating the value of his assets. The trial is being overseen by Judge Arthur F. Engoron, who has said that there is “conclusive evidence” that Trump, his two sons, and the Trump Organization had committed fraud.

Trump’s Witness Testimony

According to former Trump lawyer Joyce Vance, the former president is slated to take to the stand in order to officially explain why he inflated the value of Mar-a-Lago from a suggested $75 million to $739 million.

Inaccurate Assumptions

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Trump has already claimed that the Mar-a-Lago value estimate was “based on the assumption the property could be converted into a private residence,” which would increase its value.

Potential Damages

If the defendants lose the trial, Engoron will be able to use this evidence to evaluate any damages that need to be awarded.

Mar-a-Lago Evaluations

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Engoron previously cited an evaluation of Mar-a-Lago by Dorothy Jacks, a Palm Beach County property appraiser, to illustrate that Trump had inflated the resort’s value. Trump has criticized Engoron relentlessly on Truth Social as a result, and has called James “corrupt and racist.”

A Wild Overestimation

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Trump has insisted that Mar-a-Lago is worth between $1-1.5 billion. He lashed out at Engoron when the judge pointed out that a tax assessment from a decade ago had listed Mar-a-Lago’s worth at $18 million.

Punishments Trump Could Face

Trump is faced with the possibility of being banned from running businesses in New York, alongside his sons and organization, among other penalties.

Trump’s Role In the Valuation

One forum commenter clarified, “The reason why Mar-a-Lago is evaluated seemingly so low is because it is legally not a private residence; it’s a social club. Donald signed papers making it that way.” Someone else elaborated, “he placed easements, restrictions, and conservation agreements on it to bar it from development from the foreseeable future. He paid people to work tirelessly to do all this to lower the value so he could reduce his tax burden.”

“Being Super Rich Is His Brand”

They continued, “It was valued higher and he appealed it. He worked for that low value. He just wants everyone to believe it’s worth a billion because being super rich is his brand to borrow money so he can pretend to be super rich.” Another user agreed, “He uses the brand of pretending to be rich, to borrow money, which he loses, goes bankrupt, then HAS to lie — because being rich is his brand.”

Doing the Math

One commenter calculated that Mar-a-Lago “generates $25M or so of annual revenue, and net margins are low. Assuming a 2x to 3x valuation, I get a $50-75M range. Definitely not the $750-1500M range Trump claims.”

Trump’s Future Legacy

Someone pointed out that Trump’s lies “must make people think he was the greatest, richest human to ever live, when in fact he will go down as the dumbest and worst and not even rich.”

Bring On Higher Taxes, the Internet Says

“If it’s worth what he says, let’s tax it at that value. Works for me,” one person said. Someone else wrote, “I’m fine with paying the tax bill on an 18 million dollar tax assessment but my house is worth 1.5 billion. This s— only makes sense to dumb people.”

Mocking Trump’s Fixation

People online have derided Trump for his obsession with the value of Mar-a-Lago, speculating that his outbursts indicate secret insecurity at his lack of wealth. They emphasized how of all the things at stake for Trump, this should not be his biggest concern.

The Mar-a-Lago Criminal Case

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This latest development isn’t the only time Trump’s resort has been in the spotlight. The former president is also embroiled in a completely separate criminal case involving classified documents that were found at Mar-a-Lago.

The Classified Documents

“He probably thinks Mar-a-Lago is still worth billions but there’s no more documents to sell,” one user commented, referencing the upcoming trial.

Judge Contemplates Delays

The Mar-a-Lago trial has the potential to be delayed beyond its planned May date, and Judge Cannon, who is overseeing the trial, has said that she will consider it. Many people believe that this is a tactic by Trump to put off trials until late next year after he potentially wins the presidency.

Cannon’s MAGA Allegiance

Americans have called out Judge Cannon for her previous support of Donald Trump, and suspect that she is attempting to give him an easy time with the case. The former president has been far less critical of her than of judges overseeing his other trials, such as Engoron.