TYT: The Real Reason Donald Trump Is Rich

[WhoIsNumberNone]

Donald Trump loves talking about what a great business man he is, and conservatives generally love to stress that they have single-handedly earned everything they have. Some new research on Donald Trump suggests otherwise. Cenk Uygur and John Iadarola (Think Tank), hosts of the The Young Turks, break it down. Tell us what you think in the comment section below.

"In an outstanding piece for National Journal, reporter S.V. Dáte notes that in 1974, the real estate empire of Trump's father, Fred, was worth about $200 million. Trump is one of five siblings, making his stake at that time worth about $40 million. If someone were to invest $40 million in a S&P 500 index in August 1974, reinvest all dividends, not cash out and have to pay capital gains, and pay nothing in investment fees, he'd wind up with about $3.4 billion come August 2015, according to Don't Quit Your Day Job's handy S&P calculator. If one factors in dividend taxes and a fee of 0.15 percent — which is triple Vanguard's actual fee for an exchange-traded S&P 500 fund — the total only falls to $2.3 billion.

It's hard to nail down Trump's precise net worth, but Bloomberg currently puts it at $2.9 billion, while Forbes puts it at $4 billion. So he's worth about as much as he would've been if he had taken $40 million from his dad and thrown it into an index fund.”*

Read more here: http://www.vox.com/2015/9/2/9248963/donald-trump-index-fund

[Spitfire of ATJ]

1. Daddy got a chunk of that wealth as a slum lord.

[bulloney]

2. Inheritance is not a life skill.

It's pretty hard to not be rich when you inherited a ton of money. If you started with little or nothing, worked hard, made smart decisions and became wealthy, I salute you. But don't inherit millions from daddy or married into millions and act like your financial security was all because of you.

[Unknown Beatle]

3. John McCain comes to mind.

[Quixote1818]

4. One of the Republican candidates needs to call him out on this

Man would that get under his skin!