Dmitry Rybolovlev

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  • Forbes estimated that Trump's net worth had fallen in half since 2008, but noted that strange transactions with Russian oligarch Dmitry Rybolovlev had helped prop up Trump's plunging balance sheet. “Last year the world had 1,125 billionaires. Today there are 793. How $1.4 trillion vanished. […] Donald Trump, we estimate, has seen nearly half of his net worth disappear. His casino company is in bankruptcy--again. His $1 billion hotel and condo tower in Chicago hasn't closed enough previously agreed-to sales and can't find new buyers. Evidently having some difficulty making timely repayments of $640 million in unguaranteed construction loans from Deutsche Bank, he sued the lender last fall (but recently took the lawsuit off the table). As cranes stand idle above half-built residential real estate projects around the world, Trump's ability to profit from licensing his name and marketing expertise to other developers has become impossible to gauge--despite his popularity. ‘We're not going down; we're going up,’ says Trump. ‘We're buying things we couldn't have dreamed of buying two years ago. And we have a lot of cash.’ The Donald always makes a few shrewd moves. Last May Trump sold a Palm Beach, Fla. house to Russian tycoon Dmitry Rybolovlev, who was worth $12.8 billion last year, for $100 million. In the months that followed, shares of the new homeowner's publicly traded fertilizer outfit, Uralkali, cratered, erasing three-quarters of his fortune. Trump dumped some of the cash he made into a few golf courses put on the block by their cash-strapped owners.” (Forbes, March 30, 2009)