One of the main selling points Republican presidential nominee Donald Trump has been pitching to the American people is he a successful businessman, but a new in-depth report of Trump’s finances by The New York Times shatters that faux-image.
Trump’s businesses and holdings are something of a maze, and he has aptly traversed the gauntlet for years in pursuit of paying as low of taxes as possible. However, we now know the companies Trump owns have at a minimum of $650 million in debt — which is nearly double the amount Trump released in a 104-page public filing report when he began his presidential bid. Trump is proud of this, and even once proclaimed, “I am the king of debt.”
While the orange businessman claims to be worth $10 billion it has now been proved that at least $2 billion of that worth can be attributed to a series of lenders who hold loans on the “Avenue of the Americas” building. Trump doesn’t personally owe the money, and yet he counts the $2 billion towards his net worth. However, according to The New York Times Trump stated he was worth a mere $1.5 billion in a different financial disclosure form. Other financial publications have placed his net worth to be less than $5 billion.
Another aspect of Trump’s “wealth” is his self-assigned value to his brand, which he says goes up and down depending upon his mood. Considering Trump’s astronomical ego, the value he assigns to his brand is not a correct evaluation and should not be taken with an ounce of seriousness. Nor should his presidential campaign, and yet millions of individuals continue to support him.
Watch Trump proclaim himself “the king of debt” below: