Lucky Loser

How Donald Trump Squandered His Father's Fortune and Created the Illusion of Success

By: Russ Buettner, Susanne Craig

Narrated by: Gabra Zackman

An Instant New York Times Bestseller • A Washington Post Notable Book • A Financial Times Best Business Book of the Year

“A first-rate financial thriller . . . Lucky Loser is one of those rare Trump books that deserve, even demand, to be read.”–Alexander Nazaryan, The New York Times

From the Pulitzer Prize-winning reporters behind the 2018 bombshell New York Times exposé of then-President Trump’s finances, an explosive investigation into the history of Donald Trump’s wealth, revealing how one of the country’s biggest business failures lied his way into the White House

Soon after announcing his first campaign for the US presidency, Donald J. Trump told a national television audience that life “has not been easy for me. It has not been easy for me.” Building on a narrative he had been telling for decades, he spun a hardscrabble fable of how he parlayed a small loan from his father into a multi-billion-dollar business and real estate empire. This feat, he argued, made him singularly qualified to lead the country. Except: None of it was true. Born to a rich father who made him the beneficiary of his own highly lucrative investments, Trump received the equivalent of more than $500 million today via means that required no business expertise whatsoever.

Drawing on over twenty years’ worth of Trump’s confidential tax information, including the tax returns he tried to conceal, alongside business records and interviews with Trump insiders, New York Times investigative reporters Russ Buettner and Susanne Craig track Trump's financial rise and fall, and rise and fall again. For decades, he squanders his fortunes on money losing businesses, only to be saved yet again by financial serendipity. He tacks his name above the door of every building, while taking out huge loans he’ll never repay. He obsesses over appearances, while ignoring threats to the bottom line and mounting costly lawsuits against city officials. He tarnishes the value of his name by allowing anyone with a big enough check to use it, and cheats the television producer who not only rescues him from bankruptcy but casts him as a business savant–the public image that will carry him to the White House.

A masterpiece of narrative reporting, Lucky Loser is a meticulous examination spanning nearly a century, filled with scoops from Trump Tower, Mar-a-Lago, Atlantic City, and the set of The Apprentice. At a moment when Trump’s tether to success and power is more precarious than ever, here for the first time is the definitive true accounting of Trump and his money–what he had, what he lost, and what he has left–and the final word on the myth of Trump, the self-made billionaire.

©2024 Russ Buettner and Susanne Craig (P)2024 Penguin Audio

Critic reviews

“A first-rate financial thriller . . . Lucky Loser is one of those rare Trump books that deserve, even demand, to be read. In good part, that’s because it applies the proper lens through which to view Trump’s career. In this telling, his story lies at the intersection of business and media, with politics arriving only as a secondary concern.”—Alexander Nazaryan, The New York Times

“This is a page turner, with spectacular anecdotes . . . [Lucky Loser] shows in meticulously documented detail how 'even when Trump appeared to be at his best, he was failing,' with massive losses on his core business. The authors prove that without his father’s support, Trump would have been nothing. The book also raises a bigger question about the 'fake it ‘til you make it' ethos of modern America. In a world that conflates the 'trappings of wealth with expertise and ability,' where 'fame, detached from any other marketable talent or skill,' is 'a highly compensated vocation,' does it even matter if you never actually make it? The backbone of the book is the numbers. Because Buettner and Craig have such a trove of documents, they are able to prove, in incontrovertible detail, the reality under the hype that is Donald Trump . . . The heartbreaking thing about reading Buettner and Craig’s work is realizing how many passes Trump has gotten over the years, how thoroughly he is a creation of the media, which as the authors write, 'rarely revisited his claims and afforded credibility to everything he said.”—Bethany McLean, The Washington Post

“Combining the groundbreaking reporting of its authors with details unearthed throughout the years by other journalists and financial analysts, Lucky Loser is comprehensive, persuasive, and packed with damning anecdotes.”—The New Yorker

Fascinating review of facts!

While I was aware of some of the ways Donald Trump had lied about his so-called accomplishments, I was so pleased to learn much more. This was easy to follow and I thoroughly enjoyed this well-researched book! And I am grateful.

The Quantified Sham

A great view in the house of financial mirrors. OMG the amount of money DJT has burned through and squandered is criminal. In truth, his burning through cash is marked with the ashes of disregard for the rule of law. Epic view of a sick man that has no positive qualities to offer anyone.

More collector prize material

This book is important. I suppose the people who need to read it the most will not read it. This detailed financial history of the Trump family reveals the actual truth about their acclaimed cleverness and achieving great wealth.

What a ride

Wow, what a ride. This book is well written and the authors have gone over and beyond with their research for this book.

The book is very informative and interesting with a little dry spots here and there but not much for a book of this size.

Definitely enjoy listening to this book and received a lot of knowledge on Trump that I’ve never heard before.

Not to forget the narrator is awesome.
@booksherlocked

Beyond Disturbing

As Americans, we’ve been left holding the bag of someone that was never fit or even competent for leadership. No wonder DJT never released his taxes. Mark Burnett owes the American public an apology for the mess we’re dealing with for the biggest lie besides a stolen 2020 election. Primary sources and legal documents don’t lie, only DJT does. Thank you to the authors for their tireless work compiling all this depressing information.

Such an appropriate title

The world is laughing at the USA! This book gives so many examples of all that is wrong with America, including bankruptcy and tax laws, and those that believe his lies. The loser only cares about one thing - himself!

Arrogant Jerk Revealed Again. And Again.

I didn’t think I could stand to listen to a whole book about this guy, but it was a fascinating exploration of his lifetime of impulsivity and failing up.
Talk about being born on third base and thinking you hit a triple! An entire lifetime without introspection, self reflection or self doubt. This book is an important piece of the record of his life for history. But it was also a compelling peek inside a lifetime of his bank accounts, borrowing, bluster, lying, incompetency, rudeness and unbelievable privilege.

A down to the daccounting unting of what makes Trump....Trump.

The level of research and effort required to produce a book of this level of detail is truly impressive. Highly illuminating , extremely informative, but told in a way that is interesting enough to make you read the next chapter.

Facts!

This is the truth. The evidence is presented with the assertions, exactly the opposite of what we've heard. Bravo!

... the succinct accuracy of the Title... not born in the heat of pique, but borne out by cold facts.

American taxpayers - and voters - have long been shamefully played by a witless liar.