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]
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.
-
Switzerland could vote to cap its populationUnder the Radar Swiss People’s Party proposes referendum on radical anti-immigration measure to limit residents to 10 million
-
Political cartoons for February 15Cartoons Sunday's political cartoons include political ventriloquism, Europe in the middle, and more
-
The broken water companies failing England and WalesExplainer With rising bills, deteriorating river health and a lack of investment, regulators face an uphill battle to stabilise the industry
-
Judge blocks Hegseth from punishing Kelly over videoSpeed Read Defense Secretary Pete Hegseth pushed for the senator to be demoted over a video in which he reminds military officials they should refuse illegal orders
-
Trump’s EPA kills legal basis for federal climate policySpeed Read The government’s authority to regulate several planet-warming pollutants has been repealed
-
House votes to end Trump’s Canada tariffsSpeed Read Six Republicans joined with Democrats to repeal the president’s tariffs
-
Bondi, Democrats clash over Epstein in hearingSpeed Read Attorney General Pam Bondi ignored survivors of convicted sex offender Jeffrey Epstein and demanded that Democrats apologize to Trump
-
El Paso airspace closure tied to FAA-Pentagon standoffSpeed Read The closure in the Texas border city stemmed from disagreements between the Federal Aviation Administration and Pentagon officials over drone-related tests
-
Judge blocks Trump suit for Michigan voter rollsSpeed Read A Trump-appointed federal judge rejected the administration’s demand for voters’ personal data
-
US to send 200 troops to Nigeria to train armySpeed Read Trump has accused the West African government of failing to protect Christians from terrorist attacks
-
Grand jury rejects charging 6 Democrats for ‘orders’ videoSpeed Read The jury refused to indict Democratic lawmakers for a video in which they urged military members to resist illegal orders
