Forbes speculated that Trump’s wealth in 1990 may have dropped to zero, when, in fact, his personal loan guarantees of US$900 million at the time put him well below even that. Then he disappeared entirely in 1990, not to return until 1996. Trump climbed the Forbes list in subsequent years, earning his place in 1989 based on the estimation that he had US$1.7 billion. This advertisement has not loaded yet, but your article continues below. (Disclosure: I wrote a Trump biography, TrumpNation, for which he sued me in 2006 because, among other things, it questioned the size of his fortune. Trump has also gotten decades of traction with the media by offering wildly differing statements about how much money he has. Despite a long history of major business failures, he has used claims of outsized wealth as proof that he’s a business titan and savvy dealmaker - skills he promises to bring to the White House. There’s a method to all of this for Trump. Until that changes, there’s a good chance that a strong dose of grade inflation runs through all of the net-worth figures cited above. Indeed, much of the financial information he discloses is self-reported. Trump, who flirted with personal bankruptcy in the early ’90s, has never publicly offered an independently vetted assessment of all his debts. Tim Hortons quietly debuts ‘made to order’ garden and Caesar salads in Canada.William Watson: How Donald Trump stole trade-phobia from the Democrats.Terence Corcoran: Tory party at risk of being hijacked by the O’Leary factor.Trump also noted in the press release this week that his net worth had recently ballooned to an unspecified figure “in excess of $10 billion (US).” That’s soared from the US$8.7 billion he said he was worth when he announced his presidential run last June, and the US$10 billion he claimed only a month after that. As he did in his July release, Trump appears to be conflating income and revenue in public disclosures. In a press release, the Trump team also described that US$557 million as “revenue.” But “income” is meant to be the amount of money Trump puts in his own pocket each year and “revenue” is the amount of money his businesses pull in before expenses. What were the “incredible” numbers the presumptive Republican presidential nominee disclosed in the new filing? More than US$557 million in “income,” up from US$362 million he disclosed in a filing last July. Article content Tossing out sky-high wealth figures displays a neediness that’s cause for concern.
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