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.
Create an account with the same email registered to your subscription to unlock access.
-
Why au pairs might become a thing of the pastUnder The Radar Brexit and wage ruling are threatening the 'mutually beneficial arrangement'
-
'A direct, protracted war with Israel is not something Iran is equipped to fight'Instant Opinion Opinion, comment and editorials of the day
-
Today's political cartoons - April 17, 2024Cartoons Wednesday's cartoons - political anxiety, jury sorting hat, and more
-
Why Johnson won't just pass Ukraine aidSpeed Read The House Speaker could have sent $60 billion in military aid to Ukraine — but it would have split his caucus
-
Sudan on brink of collapse after a year of warSpeed Read 18 million people face famine as the country continues its bloody downward spiral
-
Trump's first criminal trial starts with jury picksSpeed Read The former president faces charges related to hush money payments made to adult film star Stormy Daniels
-
How will Israel respond to Iran's direct attack?Speed Read Iran’s weekend attack on Israel could escalate into a wider Middle East war
-
US, Israel brace for Iran retaliatory strikesSpeed Read An Iranian attack on Israel is believed to be imminent
-
Congress honors real-life Rosie the RivetersSpeed Read These American women reshaped the work force during World War II
-
Outgunned Ukraine could fall, US general warnsSpeed Read Without more US aid, Ukraine is at risk of losing the war
-
House GOP scuttles FISA vote at Trump's urgingSpeed Read Right-wing lawmakers blocked Speaker Mike Johnson's surveillance bill
