In yet another bombshell development hailing from New York Attorney General Letitia James’ investigation into the ex-president’s and his business, the Trump Organization’s, finances we’re now catching an inside glimpse into some of Donald Trump’s true financial standings — and let’s just say, it’s not all he’s tried to crack it up to be.
The whole driving force behind James’ probe into the Trump Organization and its owner, Trump himself, hails from the allegations that Trump and his business have spent years now misrepresenting their finances as well as various property values, based on who they were dealing with at the moment, in a shady effort to acquire more favorable tax breaks and loans.
Just recently, we reported that James was officially seeking to force the ex-president himself to testify in the case, after revealing that she recently obtained “significant evidence” indicating that Donald Trump himself committed fraud.
Now, the Daily Mail reports that some of that evidence may be connected to Trump’s bank account and his pesky habit of being less than truthful.
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Following financial statements pertaining to Donald Trump that were recently released by New York Attorney General Letitia James, Forbes took another long, hard look at the one-term, twice-impeached former guy’s financial standing, ultimately compiling a new valuation in light of the new information.
Of course, Trump’s cash holdings are a mere fraction of his overall “empire,” consisting of cash money, real estate, and brand assets — all of which prove difficult to firmly quantify and value.
However, when it comes to the specifics of Trump’s cold, hard cash, it looks as though the former real estate “mogul” turned president isn’t as well off as he wants you to think.
The Daily Mail reports:
Nevertheless, they appeared to drop well below what Trump had maintained they were – including during his longstanding efforts to try to persuade to place him high on its billionaire’s list – according to his statements released by the AG’s office.
Trump’s cash holdings were listed as $114 million in 2016 when he was running for president. They were down to a listed $76 million in 2018, rising to $87 million in 2019 and reaching $93 million in 2020, his last year in office.
That year came when the Trump organization was seeking to unload a luxury hotel property in Washington, D.C., where business tanked amid the coronavirus pandemic.
But in 2015, when Trump was launching his bid for president, his campaign released a financial statement showing cash and securities worth $302 million as of June 2014, when he said his net worth was nearly $9 billion.”
Eventually, the number plummeted to a range of somewhere between $78 million and $232 million after Trump was required to sign a financial statement with the federal government.
Forbes tells of a 2015 meeting that held with Trump in his Trump Tower penthouse, during which Donald told the publication, “As of today, I’m at $793 million,” citing a figure that was nearly double the year before. “Why? ‘Because I sell stuff,” Trump claimed, noting his sale of the Miss Universe pageant for nearly $30 million.
“Here’s your cash number here—or market value: 793,” Trump reportedly told Forbes at the time of the interview, holding up his “proof” that consisted of a blank piece of printer paper, on which he had scrawled the number 793 in his infamous black Sharpie writing.”
Trump has, of course, responded to James’ investigation at things heat up even further around him, dubbing it as yet another “witch hunt” by the Democratic prosecutor.
You can read the full report from the Daily Mail here.
Featured image via Political Tribune gallery
