When Donald Trump boasts he started his "$10 billion" real estate empire with just a $1 million loan from his father, he might not exactly be telling the whole story. The Wall Street Journal reported Friday that when all of Donald's loans and gifts from his father, Fred Trump, are taken into account, the assistance totals well into the millions:
In September 1980, around the time Mr. Trump was laying the groundwork to build a casino in Atlantic City, New Jersey, his father lent him $7.5 million, a matter previously reported. In 1981, when Mr. Trump applied for a casino license, regulators learned he received a $100,000 salary as an executive vice president at his father’s company, Trump Management Inc., and yearly trust money that varied from around $32,000 a year to more than $200,000.The disclosure document from Ivana Trump shows, additionally, that Fred Trump had been providing credit on frequent occasions starting at least as far back as 1977. [The Wall Street Journal]
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Trump U-turns on weapons to UkraineSpeed Read Unhappy with Putin, Trump decides the US will go back to arming Ukraine against Russia's attacks
-
July 8 editorial cartoonsCartoons Tuesday's political cartoons include a Trump disappearing act, trade talk uncertainty, and Elon Musk's many injuries
-
Entente cordiale: will state visit help UK-French relations get over Brexit?Today's Big Question The King, a keen Francophile who has a warm relationship with Emmanuel Macron, will play a key role in state visit
-
Elon Musk launching 'America Party'Speed Read The tech mogul promised to form a new political party if Trump's megabill passed Congress
-
Judge blocks Trump's asylum ban at US borderSpeed Read The president violated federal law by shutting down the US-Mexico border to asylum seekers, said the ruling
-
Thai court suspends prime minister over leaked callSpeed Read Prime Minister Paetongtarn Shinawatra has been suspended, pending an ethics investigation
-
Senate passes GOP megabill after Alaska side dealThe pivotal yes vote came from Sen. Lisa Murkowski, whose support was secured following negotiated side deals for her home state Alaska
-
Trump sues LA over immigration policiesSpeed Read He is suing over the city's sanctuary law, claiming it prevents local law enforcement from cooperating with federal immigration authorities
-
Obama, Bush and Bono eulogize USAID on final daySpeed Read The US Agency for International Development, a humanitarian organization, has been gutted by the Trump administration
-
The last words and final moments of 40 presidentsThe Explainer Some are eloquent quotes worthy of the holders of the highest office in the nation, and others... aren't
-
Senate advances GOP bill that costs more, cuts moreSpeed Read The bill would make giant cuts to Medicaid and food stamps, leaving 11.8 million fewer people with health coverage
