Real estate mogul and Republican presidential hopeful Donald Trump would like you to know his net worth is very large.
In fact, he claims his personal fortune is so “massive” that it cannot be detailed on the Federal Election Commission financial disclosure forms required for White House hopefuls.
Trump’s campaign released a statement on Wednesday indicating that he has filed his disclosure forms and the he has a “net worth” that “is in excess of TEN BILLION DOLLARS.”
“This report was not designed for a man of Mr. Trump’s massive wealth,” the statement said of the FEC forms. “For instance, they have boxes once a certain number is reached that simply state $US50 million or more. Many of these boxes have been checked. As an example, if a building owned by Mr. Trump is worth $US1.5 billion, the box checked is ‘$US50,000,000 or more.'”
At his presidential campaign announcement last month, Trump unveiled a single page report that described his net worth as being approximately $US8.7 billion. However, at the same time, Trump claimed he would be worth “well over $US10 billion” after an unspecified “increase.” Trump’s claims about his wealth vastly exceed outside estimates. As of this writing, Forbes lists Trump’s net worth as $US4.1 billion.
In the statement released on Wednesday, Trump’s campaign claimed the summary of his net worth that he displayed at his announcement was “more than one year old.” The campaign also explained the “increase” Trump alluded to at his launch.
“Mr. Trump’s net worth has increased since the more than one year old financial statement produced at his presidential announcement,” the statement said. “Real estate values in New York City, San Francisco, Miami and many other places where he owns property have gone up considerably during this period of time. His debt is a very small percentage of value, and at very low interest rates. As of this date, Mr. Trump’s net worth is in excess of TEN BILLION DOLLARS.”
Trump’s statement also lauded Trump’s stock portfolio and investment instincts.
“Mr. Trump’s income for the year 2014, as reported in the PFD statement, is $US362 million dollars (which does not include dividends, interest, capital gains, rents and royalties). In addition, he was successful in choosing multiple stocks which were sold in January 2014,” the statement said. “Even though stock market purchases are not something that Mr. Trump has focused on in the past, and while only a small part of his net worth, 40 of the 45 stocks purchased went up in a relatively short period of time.”
Along with describing Trump’s wealth, the statement went off on a bit of a tangent praising his skills as an author. It included a claim that Trump’s book, “Trump: The Art of The Deal” is “one of the bestselling business books of all time” and that he has also authored “numerous other bestsellers over the years.”
Since Trump kicked off his presidential campaign, numerous corporations have ended their relationships with him due to controversial comments he has made about illegal immigration from Mexico. This included NBC, which was the longtime home of Trump’s “Apprentice” reality television franchise. In the statement about his net worth, Trump’s campaign claimed he chose to end his relationship with NBC/Universal to run for president and implied the company’s subsequent actions were coloured by dissatisfaction with this decision.
“NBC/Universal renewed, at the upfronts this year, ‘The Apprentice’ (for a 15th season), but Mr. Trump decided to turn them down in order to run for President of the United States. NBC was not happy,” the statement said. “During the 14 seasons ofThe Apprentice, Mr. Trump was paid $US213,606,575.”
The Trump campaign’s statement included a comment from the man himself dismissing doubters who speculated he would not file disclosure forms due to questions about his net worth.
“First people said I would never run, and I did. Then, they said, I would never file my statement of candidacy with the FEC, and I did. Next, they said I would never file my personal financial disclosure forms. I filed them early despite the fact that I am allowed two 45 days extensions,” Trump said. “Now I have surged in the polls and am fighting to Make America Great Again. I look forward to the challenge of winning the presidency and doing a fantastic job for our country. I will make the United States rich and strong and respected again, but also a country with a ‘big heart’ toward the care of our people.”
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