* Trump’s Mar-a-Lago home was valued at $739 million, but James said should have been valued more in the $75 million range.
* Trump’s property on Park Avenue was valued in 2010 at $72.5 million, but Trump’s company claimed in its financial statements that it was worth $292 million, according to the lawsuit.
It goes on like this, but you get the idea. Time and time again, according to James’ lawsuit, Trump greatly overstated the value of his properties in order to obtain favorable loan terms on other properties – many of which later turned a profit.
It would fit into a pattern of Trump’s life.
A month after he entered the race, his campaign again revised that estimate upward.
It’s decidedly difficult to know exactly what Trump is worth because he has never released his tax returns or other detailed financial information that would allow us to make that determination.
Forbes, which closely tracks the wealth of the country’s wealthiest people, said earlier this year that Trump was worth $3 billion, up from $2.4 billion in his final year as president.
“Donald Trump, master of reinvention, has a new title: tech entrepreneur. That’s overkill for [Trump], who doesn’t even use email, preferring instead to scribble notes in marker. But he doesn’t mind getting into businesses he has little experience in – and that job should prove far more lucrative than the presidency. In fact, it has already increased his net worth by $430 million.”
The reality is – and always has been – that Trump is very wealthy. But not as rich as he claims. It’s the best example of the “truthful hyperbole” that Trump expounded in the late 1980s in his book “The Art of the Deal.”
It’s also true that much of Trump’s self-definition has to do with the fact that he’s extremely wealthy. Which means Wednesday was a tough day for the billionaire businessman.