In May 1990, Forbes published its famous cover story, “How Much Is Donald Trump Really Worth Now?” asserting that “we come up with properties that we think have a market value of slightly less than $3.7 billion and are encumbered by nearly $3.2 billion in debt. This might be the only time he’s ever admitted he had less money than people thought. Trump himself wouldn’t have gone as high as $5 billion that year, especially with the risk of losing half.
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Trump’s financial problems brought him near bankruptcy last year and forced him to ask his banks to rescue him by lending him more money to pay off bills.” “But the erstwhile billionaire apparently never had that much to begin with and certainly does not have it now,” The New York Times reported in 1991, “Mr. Just months later, his own bankers valued his short-term assets, everything he could sell within 90 days, at “between $282 million and negative $295 million.”Īlso that March, divorce lawyers for The Donald’s then-wife Ivana Trump argued she was entitled to half of his assets-which they valued at $5 billion-in spite of their prenuptual agreement. Trump’s Greatest, Most Luxurious Estimate: $700,125,000Įstimate From the Haters and Losers: $-20 millionįrom the same Spy piece by John Connolly (coverline: “Was Donald Trump Ever Really Rich?”): Trump filed a sworn statement with New Jersey’s Casino Control Commission in March 1990, listing his assets at $1.5 billion. Most of Trump’s remaining assets were in stock, but the accountants also didn’t point out that those shares were bought with borrowed money-he still owed $69 million.īy Spy’s math, Trump was actually $20 million in the hole at the time. The Andersen audit took place a week after Merrill Lynch had given Trump $651 million to build his famous Trump Taj Mahal casino in Atlantic City, and it failed to note that all that cash was already earmarked for the project.
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Trump had accounting firm Arthur Andersen-which would later be disgraced in the Enron scandal-audit his finances in 1988, revealing he had more than $700 million in cash and liquid assets.īut according to Spy, which gleefully deflated many of Trump’s lofty public claims in the late ‘80s and early ‘90s, this was a neat deception. Here’s a timeline of how much money-visualized with the help of graphs-Donald Trump has claimed to have through the years, and how accurate those claims were according to the best sources available at the time. How much is Trump really worth? If history is any guide, the safe answer is: much less than he says he does. As cartoon plutocrat and sentient overripe pear Donald Trump officially entered the Republican presidential race Tuesday, he pointedly brandished a financial disclosure statement that asserts his net worth to be in the neighborhood of 9 billion dollars.