"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."
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.
-
Spain's love of sunflower seeds is wrecking its football stadiumsUnder the Radar One club controversially bans 'national vice' as discarded 'pipas' shells block drains and erode concrete
-
Today's political cartoons - May 11, 2025Cartoons Sunday's cartoons - shark-infested waters, Mother's Day, and more
-
5 fundamentally funny cartoons about the US ConstitutionCartoons Artists take on Sharpie edits, wear and tear, and more
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
