Stephen Colbert and Jimmy Kimmel are shocked, shocked that Trump is apparently just another trust-fund baby

Stephen Colbert and Jimmy Kimmel on Trump inherited wealth
(Image credit: Screenshots/YouTube/Jimmy Kimmel Live, The Late Show)

"Donald Trump has always sold himself as something of a self-made man who built an empire out of nothing but a dream and hard work, and a loan from his dad," Stephen Colbert said on Tuesday's Late Show. But it turns out even that "small loan of $1 million" — which, Colbert joked, is "barely enough to silence eight porn stars" — was just a tiny fraction of the $413 million Trump got from his father over the years, according to a blockbuster New York Times investigation. "In order to hide the money from the IRS — which is a crime — Fred Trump had been funneling money to his children for years," he recounted, and Donald Trump was earning $200,000 a year in today's dollars by the time he turned 3.

"So let me get this straight," Colbert said. "At one point, Donald Trump was an extraordinarily wealthy toddler, and today — he is still that."

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.