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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trump's Fortune Falls $800 Million To $3.7 Billion
By Chase Peterson-Withorn and Jennifer Wang
Despite decades of precedent among presidential candidates, Donald Trump has been steadfast in his refusal to release his tax returns. You dont learn that much from tax returns, he said at the first presidential debate on Monday, where he claimed that he has been getting audited by the IRS almost every year for 15 years. You will learn more about Donald Trump by going down to the federal elections, Trump suggests, where I filed a 104-page essentially financial statements of sorts.
A lot of Trump critics have argued that hes afraid that his tax returns will show hes not a billionaire. Highly doubtful. First, Trumps income will not directly correlate with the value of his assets, the debt on them or his stake in each. Second, FORBES has been scouring Trumps fortune for 34 years. Sometimes hes up, sometimes he downand for much of the 1990s he was out of the three comma club.
FORBES new investigation into Trumps wealth pegs his fortune at $3.7 billion, down $800 million from a year ago. A softening of New York Citys real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth. New information was also a factor. Of the 28 assets or asset classes scrutinized by FORBES, 18 declined in value, including his trademark Trump Tower on Manhattans Fifth Avenue, his downtown jewel 40 Wall Street and Mar-a-Lago, his private beachfront club in Palm Beach.
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http://www.forbes.com/sites/jenniferwang/2016/09/28/the-definitive-look-at-donald-trumps-wealth-new/#547256977e2d
LOOOOOSERRRRR!
onehandle
(51,122 posts)He's not a real billionaire.
Bernardo de La Paz
(48,988 posts)Foggyhill
(1,060 posts)He's got so much debt I wouldn't be surprised if his wealth is negative.
GummyBearz
(2,931 posts)Until I started working at a small business I had no idea how much debt you take out just to pay initial employee salaries etc. It is a weird thing seeing the numbers and getting used to the fact that debt is sometimes an asset in the sense that it is required to grow the business faster. In the end, the banks and venture capitalists make crap tons of money and businesses are lucky if they show a profit 5 years down the road
Greybnk48
(10,167 posts)of his name, Trump, into his estimated wealth (which is total bullshit). I agree with Lawrence O'Donnell that he was probably worth less that $10 million before he began stealing campaign money last year. He's a fraud.