Trumps "Tall Tales"

Business

“I started off in Brooklyn, New York, not long ago, with a small loan, and built a business which today is worth well over $10bn.” – 22 June, New York City

In 1978 his father gave him a loan totaling almost $1m – about $3.7m today – and acted as guarantor for the young Trump’s early projects. A 1981 report by a New Jersey regulator also shows a $7.5m loan from the patriarch, and years later he bought $3.5m in gambling chips to help his son pay off the debts of a failing casino, which was found to have broken the law by accepting them. Trump also borrowed millions against his inheritance before his father’s death, a 2007 deposition shows.

Trump has not proven that he is worth $10bn, though his tax returns, which he has refused to release, could provide a clearer picture of his worth. His financial filings suggest he has less than $250m in liquid assets, according to a Wall Street Journal analysis. Trump has a history of overstating his properties: he has, for instance, told the FEC that a New York golf club is worth $50m but also argued in court that it is worth only $1.4m.

And much more here: https://www.theguardian.com/us-news/2016/jun/24/donald-trump-fact-check-foreign-policy-taxes-business