There have been numerous stories in the news about Donald Trump, and I’m surprised that one topic has received little mention. Trump claims to be a billionaire, but there is no proof that he is or ever has been! In 1990, he stated that his net worth was $3 billion on some days and $5 billion on others. Then a report commissioned by his bankers showed Trump to be $300 million in debt. In 2005, Trump sued veteran reporter Tim O’Brien for saying that Trump’s net worth was between $150 million and $250 million. Trump was claiming a net worth of both $5 billion and $6 billion at the time. Under oath, Trump stated that he based his net worth on his feelings rather than numbers. O’Brien had proof. Trump did not. The case was thrown out of court. (Source: “The Making of Donald Trump” by Pulitzer Prize-winning journalist David Cay Johnston, chapter 10)
Trump had defaulted on so many loans from U.S. banks, they refused to lend to him any more. Johnston writes that he applied for a loan from a German bank, claiming a net worth between $2 bilion and $3 billion. The bank investigated his assets and found that he was worth less than a third of that. He got the loan by putting up some of his own money, then defaulted on the loan.
Martha “Jody” Harnish
Lynnwood
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
