![]() But the $13 million price tag for a valuable parcel was recorded in Forbes 400 files, and it soon showed up in other publications, such as New York magazine I believed then that he used a staffer to stage the call, and I resisted the fictitious valuation. Trump refused the offer while looking me in the eye he pointed out that his net worth should include an equity boost of $87 million profit. While I was in Trump’s office, a broker supposedly called to offer him $100 million for the property. In sum, Trump was worth less than $5 million, not the $100 million that I reported in the first Forbes 400.ĭuring our first interview in 1982, Trump informed me that he had bought the Barbizon Plaza Hotel and the adjoining 100 Central Park South for just $13 million, a steal. He did not own a safe deposit box or stocks in publicly traded companies. In debt, all of it secured by his father’s assets. ![]() Trump also possessed a few parcels of valuable but highly leveraged real estate, financed with $22.5 million Nowhere did the report list an ownership stake in the Trump Organization’s residential apartments. Trump’s personal assets consisted of a $1 million trust fund that Fred Trump provided to each of his children and grandchildren, a few checking accounts with about $400,000 in them and a 1977 Mercedes 450SL. They found that he had an income of about $100,000 a year, while his 1979 tax returns showed a $3.4 million taxable loss. Trump had applied for an Atlantic City casino license, and regulators were able to review his tax returns and personal and corporate debt, giving them the most accurate picture of his finances. The most revelatory document describing Trump’s true net worth in the early ’80s was a 1981 report from the New Jersey Casino Control Commission.
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