Donald Trump To Buy Ed McMahon's House

BEVERLY HILLS, Calif. — Donald Trump will soon be Ed McMahon's landlord. Trump announced Thursday he would save the television personality's Beverly Hills mansion from foreclosure by buying it for an undisclosed amount and leasing it to McMahon.

The developer told the Los Angeles Times he doesn't know McMahon personally, but acted out of compassion because helping out "would be an honor."

McMahon, 85, who was Johnny Carson's sidekick on the "Tonight" show for three decades, has not worked for about 18 months because of a neck injury. He defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp.

McMahon's spokesman, Howard Bragman, told The Associated Press that paperwork on the sale had not been completed but that McMahon was "very optimistic" the deal would go through.

"When I was at the Wharton School of Business I'd watch him every night," Trump told the Times. "How could this happen?"

McMahon bought the six-bedroom, five-bathroom, 7,000-square-foot house in January 1990. The home was listed at $4.6 million last weekend _ down from a peak price of $7 million.

Comments

[gregtico]

BEAUTIFUL GESTURE- NICE THING TO DO WITH MONEY

[GeorgeKaplan]

Good for Ed... without Ed and Johnny our culture would be much poorer. It is hard to imagine how important they were in a time when we had 3 or 4 channels to watch. They were KINGS!

Anything for Ed McMahon. And thank you Trump for helping him.

[DixieMelody]

And Ed McMahon added exactly what. . . other than holding down the end of the couch?

Johnny Carson was the brains and talent that kept that show entertaining for decades, and for some unknown reason, he negotiated his Tonight Show contract to include his previous announcer, whom the network did not want but swallowed the talentless, humorless bitter pill (Ed) in order pacify JC.

After the Tonight Show, he went on to shill for Publisher's Clearing house and other crap found advertised in the back of magazines and on infomercials.

Everything you said is right about Johnny Carson, but you are so far off-base when you label EM as "A King."

[lissak]

Excuse me, but wasn't Ed a millionaire? Every day there are hard working people losing their homes and who cares about them? Obviously, Ed chose to lead an extravagant life style and throw away his money. Why should I pity him?

[MsLiz]

Wasn't he the pitchman for Publisher's Clearing House?

[Whycee54]

Donald Trump,
I misjudged you. You DO have a heart. What with Doc Severensin and Johnny's widow and Freddy Cordova stil hangin.. you stepped up to the plate not even knowing the man but knowing what a daily ritual the Tonight Show was. KUDOS TO YOU Mr. Trump.!

[smags72]

A HEART?? No, he has a shrewd business sense, that's all. If you think Trump is doing this out of the kindness of his own heart, I have some lakefront property to sell you in the desert. He saw a business opportunity and some good PR, and jumped at it.

[auramac]

My feeling is I was relieved, and hope Ed is, when I first heard about this. I have a lot of affection for the man (Ed), and I'm sure Trump is doing what Johnny would- though Johnny would have let Ed do the talking. Maybe Trump feels sympathetic because he knows what it's like to live with a gold-digger.

[Wilburrr]

"I think the rent that I charge Ed is going to be something that is really spectacular...."

[kesiac]

If Ed couldnt pay his mortgage, he probably will not be able to pay his rent. How about taking the proceeds from the sell and buying a meager $500,000 home? A fool and his money...

[MsLiz]

Where is Ed going to get proceeds from the sale? The value of the house has dropped millions in the past few years.

It does't make any sense to sign a mortgage after you turn 70 unless you can pay it off well before you turn 85.

[kesiac]

He bougth the house for 2.6 mil and it was selling for 4.6. He was originally trying to sell it for 7. There are proceeds to be had, and I didnt say anything about a mortgage. He can buy a lovely home for cash.

[GeoLee]

Trum[ will take a minimal rental amount and play this up for all its worth. At the same time he will probably suport whomever politically will do all they can to make sure he dosnot have to pay any taxes that would benefit any of the millions who have lost their homes to usurious lenders. It has always been about who you are and who you know and how invisible or visible you are.

[booker52]

Other then being the media hound that we all know that his is, why would Trump feel the need to tell anyone about bailing this guy out? If I was Ed I would want to be the one to be the one saying yea or nay to telling the public about this. I would say thanks privately, but I don't think I would want to the world to know about it.

[johnnygoodwud]

a friend of mine dealt with trump personally here in chicago. he jacked his prices 30%, let trump hammer him down 25% and figured the other 5% as an aggravation tax.

[WolfLarsen]

Trump is buying a house in foreclosure at the bottom of the market and will sell at the top while Ed makes the payments from what is left after the creditors are done. You know kind of like a caretaker that pays the utilities and maintains the property for free. Shrewd move Donald. I am sure Trump will probably get a dime on the dollar deal from Countryside. When Ed passes I doubt if the body will be cold before Trump sells the house for 3 times what he paid. Like a reverse mortgage with even less benefits. I am glad that Ed is not going to be out on the street but Trump's actions are not purely altruistic.

[johnnygoodwud]

he's his landlord, not his guardian angel. nice gesture, but with all his $$$ why not just give ed the house?

[johjac]

My thoughts exactly. I would have given Ed the house! But, then again, maybe that's why I ain't got much money!! I'm so glad someone stepped in to assist Ed- to see him homeless would be too depressing, too sad and just a sorry-butt end to his life's story!

[smags72]

Ed McMahon has made MILLIONS in all his years on TV - where is all that money? And why did an 80-something-year old man take out a mortgage? He obviously didn't plan well for his retirement and therefore cannot retire now. I have NO pity for someone who made all that money and squandered it away, gold-digging wives or not. It's called a PRE-NUP and in this day and age, why a person would get married at all when they are rich is beyond me. If you LIKE giving your money away to your ex-gold-diggers, that is YOUR problem. I'm just glad we the taxpayers don't have to foot this bill too.

[unknownsoldier79]

That's how you end up like Ed JGW, just give away four million dollars? That's crazy, and if he was going to do that it should be given to charity don't you think so? Trumps all businessman as he should be, McMahon's not his friend.

[Whycee54]

Because even though Ed McMahon has fallen on hard times, he still has an ounce of pride. That is why Trump is leasing it to him instead of giving it to him.... BET!

[lvdragonlady]

Donald, you are the Man.
Very kool thing to do..........shame everyone can not give, whatever they can, to help someone.
Thanks

[Fight4USA8]

I 2nd that. Because it could happen to anybody.

[MsLiz]

Donald Trump hasn't offered to pay anyone here's electric bill has he? He's no altruist.

[smags72]

But is SHOULDN'T happen to rich people in their 80s. He should be retired now and living the life - where did he squander all his money? Losing millions and not saving enough to support your lifestyle does NOT 'happen to anybody.' It only happens to spoiled rich millionaires, I have NO sympathy for them.

[Wilburrr]

"but the rent is gonna be huge.... HUGE!!"

[sandiaview]

Thanks Donald! While others acted like voyeurs at a peek show, you stepped up to the plate to put this sad tale away. Thanks!

[happycat]

That is very nice of Trump to do that. Maybe he should insist though that McMahon kicks wifey to the curb.

[preatorius]

Go easy, it was a nice thhing to do.
Just because you are rich, doesn't make you smart.
In fact, many people skip out on their education and head for hollywood.

Trump is my hero today!

[robertsandimas]

Indeed Trump's gesture is a nice thing to do. I'll send him a note of gratitude when he matches that gesture by getting a few Katrina victims out of FEMA trailers.

[MsLiz]

Kudos for your witty remark!

[smags72]

EXACTLY. Everyone acts like he actually did this out of good will. It's called a PROFIT. He wouldn't make a profit off Katrina victims, so he's nowhere to be seen. He's off golfing somewhere, laughing about having to bail McMahon out and how he'll make millions off that house when he sells it.

[goldiekins]

Donald Trump has every right to do whatever he wants with his money, just like I did when I pay my bills and paid off my house. I didn't squander everything I had, but then I didn't make millions of dollars and I didn't pay for my daughter's divorce. My goodness, paying for a daughter's divorce puts him on the brink of financial ruin? These celebrities have no brains. I don't feel sorry for any of them. My biggest gripe was the government possibly bailing him out of his mortgage, and I expect there are a lot of millionaires who will be taking advantage of that. The solution is, if you can't afford it, sell it and move into something you can. It just makes my blood boil, all the publicity, and some other poor soul is living on the street for the same reasons.