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SEC document shows Trump was worth less than half of $10bn claim in 2012
Source: The Guardian
SEC document shows Trump was worth less than half of $10bn claim in 2012
Ben Jacobs in Washington
Saturday 2 July 2016 15.00 BST
On the 2016 campaign trail, Donald Trump has insisted that he is worth more than $10bn. However, a statement filed to the Securities and Exchange Commission by Wells Fargo Securities on Trump’s behalf in 2012 indicated that the real estate developer was then worth less than half that, with comparatively few of the liquid assets that may now finance his campaign for president.
In the document, which concerned the securitization of commercial mortgages on properties including Trump Tower in New York City, Trump was described as being worth more than $4.2bn, with liquid assets of more than $250m.
A passage in the 132-page filing says: “The sponsor is Donald J Trump. Mr Trump has significant commercial real estate holdings worldwide including interests in office, retail, residential, golf-clubs and hospitality properties in markets including New York, San Francisco, Florida, Washington DC, and Scotland. As of 30 June 2011, Mr Trump reports a net worth in excess of $4.2bn and liquidity in excess of $250m.”
The Trump campaign did not respond to multiple requests for comment.
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Ben Jacobs in Washington
Saturday 2 July 2016 15.00 BST
On the 2016 campaign trail, Donald Trump has insisted that he is worth more than $10bn. However, a statement filed to the Securities and Exchange Commission by Wells Fargo Securities on Trump’s behalf in 2012 indicated that the real estate developer was then worth less than half that, with comparatively few of the liquid assets that may now finance his campaign for president.
In the document, which concerned the securitization of commercial mortgages on properties including Trump Tower in New York City, Trump was described as being worth more than $4.2bn, with liquid assets of more than $250m.
A passage in the 132-page filing says: “The sponsor is Donald J Trump. Mr Trump has significant commercial real estate holdings worldwide including interests in office, retail, residential, golf-clubs and hospitality properties in markets including New York, San Francisco, Florida, Washington DC, and Scotland. As of 30 June 2011, Mr Trump reports a net worth in excess of $4.2bn and liquidity in excess of $250m.”
The Trump campaign did not respond to multiple requests for comment.
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Read more: https://www.theguardian.com/us-news/2016/jul/02/donald-trump-net-worth-campaign-finances-us-election
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