if there is one name synonymous with
wealth lavish lifestyles and hotel
properties
it's trump for decades donald trump
projected his name onto casinos and golf
courses and in doing so
he secured the reputation of a rich
businessman
but the trumps probably aren't worth as
much as you think
when donald trump was expanding his real
estate career he reportedly borrowed
money from his father and his future
inheritance
in a 2007 deposition donald fessed up
and admitted that he had borrowed more
than nine million dollars from his
inheritance to save him from financial
disaster
and we think it's hard to ask our
parents for a little bit of grocery
money
well hell since you mentioned it let me
have ten dollars
i'll beat them i'll die and go to hell
and play blackjack with the devil before
i give you 10 as reported by the
washington post
fred christ trump donald's father was
one of the wealthiest men in america
because of his middle class apartment
buildings in queens and brooklyn
he tasked his son with expanding the
family's interests in manhattan
in the 1970s the new york times wrote a
glowing profile of trump where he said
on the record that he was worth 200
million dollars
according to trump's finances examined
by the casino control commission in 1981
he had a salaried income of about 76 000
in 1975. the following year he
reportedly made 25 000
and in 1977 he made about 118
000 and not dissimilar to his tax
tactics later on in his career
trump managed to not pay income taxes in
both 1978
and 1979. looking back trump's claim
that he was worth
so many millions was pretty absurd he
was only 30 at the time
and given that he still worked as an
officer for his father's business
the claim doesn't seem likely still he
told newsweek in 1987 quote
there is no one my age who was
accomplished more
but as reported by the new york times
when donald was telling
anyone who could listen that he was
sitting on a pile of cash his businesses
were reportedly suffering
that's 220 million for the office
building
from 1986 to 1988 the times reported
trump made millions of dollars in the
stock market by suggesting that he was
about to take over companies
but it looks like all his talk caught up
with him eventually because
the figures showed that he lost most if
not all of those gains after investors
stopped taking his takeover talk
seriously
we're talking to donald trump today who
is the very definition of the american
success story
the business deal that put donald trump
on people's radar was the 1978 building
of the grand hyatt hotel
but without his father donald would
likely never have been able to make the
deal stick
something that the president has tended
to keep out of the official story
as reported by the washington post a
nearly one million dollar loan from
fred's company was a big part of
donald's deal
the loan quote helped repay draws on a
chase manhattan credit line that fred
trump had arranged for his son as he
built the hotel
but fred's involvement didn't stop there
after years of being investigated for
abuses related to real estate and
profits
fred wasn't loved in the new york
business community so his
son acted as the front man for the grand
hyatt deal the washington post noted
when donald trump announced his
candidacy for president in 2015
his finances became such a heated area
of interest in part due to his claim
that he was
worth 10 billion dollars yet throughout
the campaign
he maintained that he started his career
with a small 1 million
loan from his father and accomplished
everything else on his own
it's a small relatively small investment
for me
but as reported by the wall street
journal that was not the case
and trump's story omits significant
additional loans and gifts mr trump
received in the early years when he was
building his real estate empire
the wall street journal reviewed a
casino license disclosure document from
1985
which proved that trump had borrowed a
large amount of money from his father
and his father's real estate properties
in the 1970s and 1980s by the time the
disclosure was documented
trump owed his father roughly 14 million
dollars
according to the washington post the
casino document revealed that he had
received a 7.5 million
loan from his father that still hadn't
been paid off by 1981.
donald's real estate career boomed from
there and due in part to his political
connections
he's received 885 million dollars in tax
breaks in the new york area
according to the new york times in 2016.
it's wrong isn't it but it feels so
right
then it's a deal yes we eat our pizza
the wrong way crossburst
for all the money that donald trump
claims to have not a lot of it seems to
have gone to his third wife melania
trump
melania has used her own business
ventures to cultivate the wealth that
she does have
so how did she rack up her own net worth
while her husband was wheeling and
dealing his way through the real estate
world
melania used the trump name to launch
her own companies
including her own jewelry line she also
monopolized on her modeling background
and scored magazine cover shoots for
publications like vanity fair and
harper's bazaar
she even made it into an aflac
commercial in 2005.
but some of melania's business ventures
collapsed including her watch line
and her skincare line despite those
setbacks melania appears to have a solid
nest egg
according to the south china morning
post she is worth approximately
50 million dollars if you're hurt and
can't work
afla can help pay your bills with cash
genius
one of the trump children ivanka trump
has made perhaps the biggest name for
herself in the business world
who is his favorite
i'm going with ivanka
as noted by the new york times ivanka's
fashion business was pulling in about 75
million dollars from his sales in 2013.
ivanka was likely receiving about seven
percent of the wholesale revenues
according to forbes
the publication stated that means her
fashion line income
could have topped 10 million dollars per
year before taxes and expenses
at the height of her brand's popularity
unfortunately the fashion line came to
an end
in part due to her father's turbulent
political career
this is just it's a wonderful line i own
some of it i fully i'm gonna just give
it i'm gonna give a free commercial here
go buy it today everybody you can find
it online
by the second year of the trump
presidency her fashion line was said to
have tanked in sales
by july of 2018 ivanka announced that
she would be closing the business
forbes estimated her and her husband's
combined net worth at about 375 million
dollars
in 2017. donald trump jr tried to follow
in his father's footsteps by creating a
career in business investments
but as noted by forbes he has a quote
mixed track record to show for his time
as a businessman
forbes notes that the younger donald has
pursued several property investments
which ultimately failed
some to the tune of several million
dollars the outlet reported that donald
trump took over one property's debt
and then foreclosed bailing his son out
the president quietly sold the building
which had a history of roof leaks and
environmental contamination
in february 2018 for 4.1 million dollars
he is also tied to several companies
which are connected to gentry beach
a money manager based in dallas as noted
by forbes
beech is a close friend to don jr and
has worked as a fundraiser for donald
trump's presidency
beech and don jr have also worked
together as business partners
but their efforts apparently washed up
as they reportedly lost 200
000 after investing in a dry oil well in
texas
whoops this isn't about oil well that's
good because there isn't any
one of the less conspicuous trumps is
eric who has largely kept out of the
spotlight unless accompanying his father
on the campaign trail
even then eric trump has saved a lot of
money due to his father's financial
dealings
and he and his brother are reportedly
both worth 25 million dollars
as noted by forbes eric lives by new
york central park in a penthouse that is
made up of four
units but the real deal reported that he
purchased two at a huge discount
as the units are located in donald
trump's park east building
according to new york city filings eric
has stakes in the trump hotel located in
washington d.c
and the trump winery located in virginia
the winery's website says that the
company is run by eric trump wine
manufacturing llc
although forbes pointed out albemarle
county land records and the president's
financial disclosure form
make it clear his father actually owns
the property
so eric hasn't necessarily gotten up to
some of the flop
deals that his brother has or had to
close his business like his sister
but he isn't as in charge as some
appearances suggest
tiffany trump is the only child that
donald trump had with his second wife
marla maples
and people reported that as a result the
father and daughter didn't spend a lot
of time together during tiffany's
childhood
since being propelled into the spotlight
due to her father's presidency
tiffany has come under a lot of scrutiny
in part because of rumors that her
father plays favorites among his
children
her reported net worth of 10 million
dollars much less than her older
brothers and sister
may be the result of that reportedly
strange relationship
things really hit the fan when a
personal assistant to donald trump spoke
to reporters
saying that donald hated being
photographed with tiffany the assistant
then said that she had a better
relationship with donald than his
daughters did
as noted by politico tiffany is great i
love tiffany
thanks to the investigative work of the
new york times clarity about donald
trump's taxes came to light in september
2020
and one of the biggest revelations was a
72.9
million dollar tax refund which he
claimed after quote
declaring huge losses donald has been
in a decade-long audit battle with the
irs over the tax refund because
according to the times a ruling not in
his favor could cost him more than 100
million dollars that he would have to
pay back
as noted by the times his reports to the
irs portray a businessman who takes in
hundreds of millions of dollars a year
yet racks up chronic losses that he
aggressively employs to avoid paying
taxes
no wonder donald trump has tried to keep
his taxes out of the public
eye for so long the times reported that
in 1985
donald trump's core businesses reported
a loss of 46.1 million dollars and
across the entire decade
the losses amounted to a whopping 1.17
billion dollars the times also concluded
that donald seemed to have quote
lost more money than nearly any other
individual american taxpayer
look at me i lost everything
by reporting more financial losses than
gains trump reportedly avoided paying
income tax for years something that he
has bragged about
i pay as little as possible i fight like
hell to pay as little as possible when
abc news asked what his tax rate was
trump said quote it's none of your
business after digging into trump's
taxes
the new york times concluded that donald
trump had paid only
750 in federal income taxes in the year
he won the white house and paid another
750 in his first year as president
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