![]() But, as Trump denounced Mexican immigrants as “rapists,” near the end of the speech, Schwartz felt anxious. It seemed improbable that Trump’s campaign would succeed, so Schwartz told himself that he needn’t worry much. Schwartz recalls thinking, “If he could lie about that on Day One-when it was so easily refuted-he is likely to lie about anything.” But, as he watched a replay of the new candidate holding forth for forty-five minutes, he noticed something strange: over the decades, Trump appeared to have convinced himself that he had written the book. It had never been his ambition to be a ghostwriter, and he had been glad to move on. Until Schwartz posted the tweet, though, he had not spoken publicly about Trump for decades. During that period, Schwartz felt, he had got to know him better than almost anyone else outside the Trump family. Starting in late 1985, Schwartz spent eighteen months with Trump-camping out in his office, joining him on his helicopter, tagging along at meetings, and spending weekends with him at his Manhattan apartment and his Florida estate. Edward Kosner, the former editor and publisher of New York, where Schwartz worked as a writer at the time, says, “Tony created Trump. The book expanded Trump’s renown far beyond New York City, making him an emblem of the successful tycoon. More than a million copies have been bought, generating several million dollars in royalties. The book was a phenomenal success, spending forty-eight weeks on the Times best-seller list, thirteen of them at No. Schwartz had ghostwritten Trump’s 1987 breakthrough memoir, earning a joint byline on the cover, half of the book’s five-hundred-thousand-dollar advance, and half of the royalties. Schwartz dashed off a tweet: “Many thanks Donald Trump for suggesting I run for President, based on the fact that I wrote ‘The Art of the Deal.’ ” Trump, facing a crowd that had gathered in the lobby of Trump Tower, on Fifth Avenue, laid out his qualifications, saying, “We need a leader that wrote ‘The Art of the Deal.’ ” If that was so, Schwartz thought, then he, not Trump, should be running. As Schwartz watched a video of the speech, he began to feel personally implicated. Trump had declared his candidacy for President. Last June, as dusk fell outside Tony Schwartz’s sprawling house, on a leafy back road in Riverdale, New York, he pulled out his laptop and caught up with the day’s big news: Donald J. He feels “deep remorse.” Illustration by Javier Jaén The company said it planned a trial version of its social media app next month and a full roll-out in the first quarter of 2022.“I put lipstick on a pig,” Tony Schwartz, the ghostwriter, says. ![]() ![]() Trump Media said it would receive $293 million in cash that Digital World had in a trust if no shareholder of the acquisition firm chose to cash in their shares. ![]() Orlando did not respond to requests for comment. One of his SPACs, which was based in Wuhan, China, failed last month to complete a merger with Giga Energy Inc that would have valued the transportation solutions provider at $7.3 billion, because it could not deliver the cash required, according to regulatory filings. He launched Benessere in 2012 to advise other companies on their deals but it was not until last year that he launched four SPACs with the help of Shanghai-based investment bank ARC Capital. sugar trading company before trying his hand at special purpose acquisition companies (SPACs). It is nonetheless a remarkable reversal of fortune for the former Deutsche Bank AG (DBKGn.DE) derivatives banker who worked in Peru's biofuel industry and for a U.S. The terms of the SPAC do not allow Orlando to cash out until six months after the merger has been completed. Digital World shares ended trading on Wednesday up 357% after the deal was announced, giving the firm a market value of close to $1.5 billion. Orlando invested only $3 million in Digital World, and is set to receive the windfall because the deal entitles him to additional compensation in shares as sponsor of the firm, the filing shows. President Donald Trump's new social media venture has delivered a potential windfall of $420 million for a former finance executive who has been trying for a decade to reinvent himself as a serial dealmaker.īenessere Capital CEO Patrick Orlando's stake in Digital World Acquisition Corp (DWAC.O), the Miami-based blank-check acquisition firm he is leading, was worth $423 million on Thursday after his deal to merge with Trump Media and Technology Group was announced, according to a regulatory filing and Reuters calculations. Oct 21 (Reuters) - A merger with former U.S.
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