Monday, 4 July 2016

Not so rich! Donald Trump may be worth just $4.2billion instead of the $10billion he claims

Donald Trump has said he's worth $10billion, but documents dug up by the Guardian suggest that in 2011 he was worth $4.2billion with above $250million in liquid assetsĀ 

Donald Trump has claimed multiple times that he's worth $10 billion, but a Securities and Exchange Commission filing shows that the real total may be closer to less than half of that. 

The Guardian dug up a document from 2012, filed on Trump's behalf by Wells Fargo Securities, which indicated the billionaire was worth $4.2 billion with liquid assets totaling more than $250 million. 

This adds new fuel to rivals' claims that the businessman is lying about his wealth. Donald Trump has said he's worth $10 billion, but documents dug up by the Guardian suggest that in 2011 he was worth $4.2 billion with above $250 million in liquid assets.

Donald Trump's May fundraising numbers have Republicans worried - but The Donald has suggested he has enough money to keep self-financing his campaign. The SEC document calls that into question. 

Part of the 132-page document reads: '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,' it continues. 

Trump's campaign did not respond to the Guardian's requests for comment. Jessica Ong, a spokesman for Wells Fargo, vouched for the document's authenticity. 'Obviously, if it was inaccurate, we wouldn't have filed it with the SEC,' she told the Guardian. 

Trump's financial health has been in question because the candidate won't release his tax returns, which is pretty standard for candidates running for president of the United States. While Democratic rival Hillary Clinton has harped on this, it has been 2012 Republican nominee Mitt Romney who has really come after Trump for not releasing his returns. 

In an interview last month, Romney speculated about what could be found inside. 'He doesn’t pay taxes. He doesn’t have much income. He’s receiving income from unsavory sources. He has ownership in enterprises that are perhaps associated with unsavory enterprises or nations or groups,' Romney said on CNN. Read more


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