[Chapter 32: No-Bake Chocolate Cake]
'It was indeed him.' Orlando couldn't help but grumble inwardly. That strongly familiar decorating style just now, he already had a hunch.
Though the decor was definitely a bit much, he really liked the location and the layout.
Most importantly, the price was right: A top-floor duplex of over 13,000 square feet, priced at $8.5 million. About 10% below the usual market value.
According to the real estate agent Evan, this was because the developer, Trump Group, was on the brink of bankruptcy again.
Well, no surprise there.
Since they were this close to going under, it was only natural to try and push the price down.
Orlando told Evan to keep negotiating the price -- get it down as much as possible.
No matter what, he would buy that apartment before the year ended.
Though housing prices were slumping nationwide, even in Manhattan prices were slowly falling.
But once next year came and the Red Bear collapsed, the fallout would fire up the entire European and American markets for a decade of booming growth.
U.S. housing prices would climb steadily, finally bursting more than fifteen years later, triggering a financial crisis that nearly wrecked the world.
---
If he was going to buy a place, he needed the funds.
Back at the company, Orlando called in Frank and the finance manager. He wanted to get a clear picture of his financial situation.
"Your biggest earner, of course, is Old Town Road."
Frank knew all the numbers well. As Orlando's manager, he took a cut. "As of yesterday, North American sales hit 3,951,258 copies, almost quadruple platinum. Because sales were so strong and buzz was high, the price hasn't dropped yet -- selling at $8.25 each. After my 10% cut, you're looking at about $12.44 million.
Overseas, it sold 1.08 million copies. It's popular in English-speaking countries across Europe, Oceania, though the price is lower at $6.37. Due to high marketing costs and local distributor cuts, you get about $2.8 million from overseas.
The music video sold 410,000 copies. The black community loves it, making up 40% of sales. The video sells at $19.90 each; you get 15% (soon rising to 25%). It's the smallest chunk, about $1 million."
So just from one single, in less than two months, he could clear almost $17 million.
No wonder Seymour and Frank urged him to focus on music.
Not only because he actually had talent in it, but because music truly brought in the money.
And that was just from record sales -- not even counting royalties, licensing, endorsements, or live shows.
Putting it all together, in just two months, his income was nearly hitting $30 million.
Two months ago, he didn't even have a single Franklin on him.
"Orlando, you might just be this year's biggest winner," Frank said, clapping after running the numbers.
"Why do you say that?"
"Based on this year, you're probably the highest-paid singer, and you've only released one song! You still have two more to drop, right? If you drop an album by the end of the year, you'll be the king of 1990!"
Orlando raised an eyebrow.
He remembered the media measured Michael Jackson's 1989 income at $125 to $150 million, far ahead of everyone else.
This top pop star had even received the "Artist of the Decade" award from President George H.W. Bush at the White House in April.
Could he really surpass MJ this year?
He found it hard to believe.
"No way, I'm nowhere near MJ yet."
"Last year, MJ made so much because of the Bad tour, running all the way from '87 to '89. Since there's no tour or new album this year, your income's definitely higher."
"What about Madonna? She's touring now."
Madonna's Blond Ambition Tour was called "one of the greatest tours of all time" by Rolling Stone.
The stage design was bold, full of religious symbolism.
Though it sparked backlash from conservative groups and even condemnation from the Vatican, it cemented her spot as a pop icon and kept her in the entertainment headlines daily.
Not to mention the recent rumors spun around her and Orlando -- they both benefited greatly.
Her popularity surged, too.
This buzz was a genuine win-win.
Absolutely textbook.
"Other income is hard to say, but just from music alone, she definitely doesn't make more than you," Frank was confident.
That felt good.
The more he out-earned her, the longer he figured their fling would last.
Before Madonna turned into "Madonna the grandma," Orlando was happy to keep enjoying the fantasy around the pop queen -- one that drove men worldwide wild.
"Then let's ask Warner for an accounting split," Orlando said. "That way, I'll have the cash to buy the place I want."
After all the math, besides endorsements and gigs which paid immediately, the bulk of the record money was still with Warner.
According to his contract, Orlando could request payments monthly, quarterly, or annually, though most people took monthly draws.
Why leave his money sitting in Warner's account, earning them interest?
Better to get it back and make it work for himself.
"You're requesting a payout for buying a house?" Frank was surprised. He hadn't joined Orlando at the viewing since he was out negotiating gigs.
"Yeah. It's on West 24th Street in the Upper West Side. Close to Central Park, beautiful. $8.5 million. About 13,000 square feet."
"You definitely should buy that place." Frank nodded. "$8.5 million for the Upper West Side and that much space doesn't sound bad."
"But here's my advice," Frank quickly added before Orlando could reply, "I suggest you take out a loan."
"What? I have tons of cash now. Why let the bank make free money on interest?!" Orlando was baffled.
"Loans help with taxes. Federal tax law lets you deduct mortgage interest on your primary or investment properties. So if you pay $100k in interest, you save $100k in taxes -- it's like borrowing the bank's money for free."
Frank continued, "You can have Kurt calculate your taxable income and figure out how much tax you owe on the non-deductible stuff. Then help you take out a loan whose interest cancels out those taxes."
That was clever!
Orlando was thrilled.
---
After running the numbers, Orlando headed home.
Outside, night had already fallen.
He called his two towering bodyguards and assistant Diana.
After sitting in Manhattan's rush hour traffic for over 40 minutes, they finally got back to the apartment.
By coincidence, Orlando ran into the stunning Latina beauty again in the lobby.
"Hey, good evening, Jennifer."
This time, he was the one initiating.
Mainly because he now knew how much money he had -- and was about to buy the luxurious Manhattan penthouse both his current self and past self had dreamed of.
He'd been in a great mood all afternoon.
"Good evening, Orlando. Just got off work?"
"Yeah, got stuck in traffic for ages. Are you reading?"
"Yeah, something about acting -- after all, I'm a musical theater actress."
"Such an ambitious girl."
"Thanks for the compliment. By the way, Orlando, I got off work early today and made some no-bake chocolate cake at home. I accidentally made too much and can't finish it myself. Want to try some?"
They'd stepped into the elevator at this point.
Watching her tilt her head slightly, with a hopeful, nervous yet helpless look.
Orlando thought she really had acting chops.
If he didn't have telepathic powers -- and wasn't a major flirt himself -- he might really fall for her Latina charm.
"I'm not hungry right now; I ate dinner at the office."
"Ah... that's too bad. Then I guess I'll just have to eat more of it myself, or toss the rest," Jennifer whispered.
"I'm not hungry now, but I'll get hungry later. Maybe later, you can bring your no-bake chocolate cake up for me to try?"
*****
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