How rich is Donald Trump really?
“Real estate values in New York City, San Francisco, Miami and many other places where he owns property have gone up considerably during this period of time. His debt is a very small percentage of value, and at very low interest rates. As of this date, Mr. Trump’s net worth is in excess of TEN BILLION DOLLARS.”
Pinning down how much Trump is actually worth is a bit of a moving target, largely because the former president often exaggerates. Wildly.
As far back as 2012, when Trump was considering a run for president, he spent time making sure everyone knew he was very wealthy.
That’s sort of hard to tell — primarily because the former president, in a break with tradition, refused to publicly release any of his previous tax returns, insisting that they don’t actually reveal all that much about a person’s financial status. (Fact check: They do.)
According to Forbes’ calculations, Trump’s net worth peaked in 2015, when he was worth $4.5 billion. It steadily declined during his years in the White House, a fact Trump regularly talked about.
He’s not wrong!
The other thing you have to consider when trying to calculate Trump’s actual wealth is his debt obligations. We know, thanks to amazing reporting from The New York Times, which got their hands on years of Trump’s tax returns, that he owes a massive sum — and those debts are coming due in the not-too-distant future.
“In the 1990s, Mr. Trump nearly ruined himself by personally guaranteeing hundreds of millions of dollars in loans, and he has since said that he regretted doing so. But he has taken the same step again, his tax records show. He appears to be responsible for loans totaling $421 million, most of which is coming due within four years.”
Trump is also in the midst of a dispute over a $70-million-plus refund he received from the IRS in 2010. (In 2011, the IRS began looking into whether or not Trump actually merited that refund for business losses. The case remains unresolved.)
The extent of Trump’s wealth, like so much in his life, appears to be, at least in part, made up. Or at least heavily exaggerated.
“The final key to the way I promote is bravado. I play to people’s fantasies. People may not always think big themselves, but they can still get very excited by those who do. That’s why a little hyperbole never hurts. People want to believe that something is the biggest and the greatest and the most spectacular. I call it truthful hyperbole. It’s an innocent form of exaggeration—and a very effective form of promotion.”
Truthful hyperbole indeed.
Read More: How rich is Donald Trump really?