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Trump Buys Winery of Embattled Former Billionaire

Patricia Kluge will likely stay on, he says

By Evann Gastaldo,  Newser Staff

Posted Apr 8, 2011 9:58 AM CDT

(Newser) – The strange saga of former billionaire Patricia Kluge continues: Her winery was snapped up at a foreclosure auction yesterday by none other than Donald Trump. The 776-acre Kluge Estate Winery and Vineyard "had a $28 million mortgage on it, and I bought it for $6.2 million," Trump tells the Washington Post. "It’s a Trump deal!” In recent weeks, the real estate mogul has been negotiating the purchase of other properties once owned by Kluge.

“I’m really interested in good real estate, not so much in wine,” Trump says, noting that he'll likely keep Kluge and her husband on board to run the winery. Kluge and The Donald have known each other since they were in their 20s, and “she has a great instinct for wine, which I don’t,” Trump adds. Though Kluge did not attend the auction, she says she is "thrilled that Donald owns the company” because of his commitment to continue the winemaking business. Click for the story of Kluge's downfall.

This 2000 file photo provided by the family of Patricia Kluge shows Patricia Kluge modeling a gown that will be up for auction in the Roman Hallway at the Albemarle House outside Charlottesville, Va.
This 2000 file photo provided by the family of Patricia Kluge shows Patricia Kluge modeling a gown that will be up for auction in the Roman Hallway at the Albemarle House outside Charlottesville, Va.   (AP Photo/Kluge Family, Jim Carpenter, File)
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COMMENTS
Showing 3 of 8 comments
trilliondollar
Apr 8, 2011 10:55 AM CDT
So Trump buys this winery for $6.2 million when it had a $28 million mortgage. Who is holding the $21.8 million dollar loss? A bank that will expense this loss on its book and share that loss with the taxpayers? Cool. Let's definitely have this guy for president. Seriously though, how did this deal work? There are thousands of experts on wine around the world who operate successful wineries. Why wouldn't one of them snap up this deal? Why would Trump allow Kluge and her husband to continue as head of the winery when they have failed on such a massive scale? There is more to this story.
paddymc68
Apr 8, 2011 10:44 AM CDT
So does this mean the winery will start producing boxed white zin?
Reader68389796
Apr 8, 2011 10:26 AM CDT
Good for him that's where he belongs in the vineyards of America not in the white house.
 

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