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“Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success” is a Nonfiction book Authored by New York Times Investigative Journalists Russ Buettner and Susanne Craig, Published on September 17, 2024

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“Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success” is a Nonfiction book Authored by New York Times Investigative Journalists Russ Buettner and Susanne Craig, Published on September 17, 2024

The book provides an in-depth examination of Donald Trump’s financial history, challenging the narrative of him as a self-made billionaire. Drawing on over two decades of confidential tax information, business records, and interviews with insiders, Buettner and Craig reveal that Trump’s wealth was largely inherited from his father, Fred Trump, a successful real estate developer. They argue that, despite this substantial inheritance, Donald Trump engaged in a series of failed business ventures, including casinos, airlines, and real estate projects, leading to significant financial losses.

The authors highlight how Trump employed aggressive tax avoidance strategies, declaring significant business losses to offset tax liabilities over many years. They also discuss how his role on the television show “The Apprentice” played a crucial part in reviving his public image as a successful businessman during a period when his actual financial situation was precarious. This media exposure contributed significantly to his public persona and facilitated his political rise.

“Lucky Loser” has been praised for its meticulous investigative reporting and detailed narrative. The New York Times described it as “a first-rate financial thriller” that “demands to be read,” offering a definitive examination of the myth of Trump as a self-made billionaire. The Washington Post noted that the book reveals how Fred Trump provided his son with substantial financial support, including collateral for loans and a reliable source of cash to pursue his ambitions.

In summary, “Lucky Loser” offers a comprehensive analysis of Donald Trump’s financial dealings, illustrating how inherited wealth and media manipulation contributed to the creation of his public image, while his actual business ventures often resulted in significant losses.

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