Donald Trump

=== Wealth ===
{{Main|Wealth of Donald Trump}}
[[File:Ivana Trump shakes hands with Fahd of Saudi Arabia.jpg|thumb|upright=1.2|Trump (far right) and wife Ivana in the receiving line of a state dinner for King [[Fahd of Saudi Arabia]] in 1985, with U.S. president [[Ronald Reagan]] and First Lady [[Nancy Reagan]]|alt=Ivana Trump and King Fahd shake hands, with Ronald Reagan standing next to them smiling. All are in black formal attire.]]
In 1982, Trump made the initial ''[[Forbes]]'' list of wealthy people for holding a share of his family's estimated $200&nbsp;million net worth (equivalent to ${{Inflation|US|200|1982}}&nbsp;million in {{Inflation/year|US}}).{{Inflation/fn|US}} His losses in the 1980s dropped him from the list between 1990 and 1995.<ref>{{cite web|url=https://www.nytimes.com/2005/10/23/business/yourmoney/whats-he-really-worth.html|title=What's He Really Worth?|first=Timothy L.|last=O'Brien|author-link=Timothy L. O'Brien|access-date=February 25, 2016|date=October 23, 2005|work=[[The New York Times]]}}</ref> After filing the mandatory financial disclosure report with the [[Federal Election Commission|FEC]] in July 2015, he announced a net worth of about $10&nbsp;billion. Records released by the FEC showed at least $1.4&nbsp;billion in assets and $265&nbsp;million in liabilities.<ref name="disclosure">{{cite web|last1=Diamond|first1=Jeremy|last2=Frates|first2=Chris|url=https://cnn.com/2015/07/22/politics/donald-trump-personal-financial-disclosure/|title=Donald Trump's 92-page financial disclosure released|work=[[CNN]]|date=July 22, 2015 |access-date=September 14, 2022}}</ref> ''Forbes'' estimated his net worth dropped by $1.4&nbsp;billion between 2015 and 2018.<ref>{{cite web|url=https://www.businessinsider.com/trump-forbes-wealthiest-people-in-the-us-list-2018-10|title=Trump has fallen 138 spots on Forbes' wealthiest-Americans list, his net worth down over $1 billion, since he announced his presidential bid in 2015|work=[[Business Insider]]|date=October 3, 2018|first=John|last=Walsh|access-date=October 12, 2021}}</ref> In their 2024 billionaires ranking, Trump's net worth was estimated to be $2.3&nbsp;billion (1,438th in the world).<!-- Update annually per [[Talk:Donald Trump#Current consensus]], item 5. Otherwise, DO NOT CHANGE these values without prior consensus. --><ref>{{cite web|url=https://www.forbes.com/profile/donald-trump/?list=billionaires|title=Profile Donald Trump|work=[[Forbes]]|year=2023|access-date=March 28, 2024}}</ref>

Journalist Jonathan Greenberg reported that Trump called him in 1984, pretending to be a fictional Trump Organization official named "[[John Barron (pseudonym)|John Barron]]". Greenberg said that Trump, speaking as "Barron", falsely asserted that he owned more than 90 percent of his father's business to get a higher ranking on the [[Forbes 400|''Forbes'' 400]] list of wealthy Americans. Greenberg also wrote that ''Forbes'' had vastly overestimated Trump's wealth and wrongly included him on the 1982, 1983, and 1984 rankings.<ref>{{cite news|newspaper=[[The Washington Post]]|date=April 20, 2018|access-date=September 29, 2021|first=Jonathan|last=Greenberg|title=Trump lied to me about his wealth to get onto the Forbes 400. Here are the tapes.|url=https://www.washingtonpost.com/outlook/trump-lied-to-me-about-his-wealth-to-get-onto-the-forbes-400-here-are-the-tapes/2018/04/20/ac762b08-4287-11e8-8569-26fda6b404c7_story.html}}</ref>

Trump has often said he began his career with "a small loan of one million dollars" from his father and that he had to pay it back with interest.<ref>{{cite web|url=https://www.cnbc.com/2015/10/26/donald-trump-my-dad-gave-me-a-small-loan-of-1-million-to-get-started.html|title=Donald Trump: My dad gave me 'a small loan' of $1 million to get started|work=[[CNBC]]|first=Scott|last=Stump|date=October 26, 2015|access-date=November 13, 2016}}</ref> He was a millionaire by age eight, borrowed at least $60&nbsp;million from his father, largely failed to repay those loans, and received another $413&nbsp;million (2018 dollars adjusted for inflation) from his father's company.<ref>{{cite web|last1=Barstow|first1=David|author-link1=David Barstow|last2=Craig|first2=Susanne|author-link2=Susanne Craig|last3=Buettner|first3=Russ|url=https://www.nytimes.com/2018/10/02/us/politics/donald-trump-wealth-fred-trump.html|title=11 Takeaways From The Times's Investigation into Trump's Wealth|work=[[The New York Times]]|date=October 2, 2018|access-date=October 3, 2018}}</ref><ref name="Tax_Schemes">{{cite web|url=https://www.nytimes.com/interactive/2018/10/02/us/politics/donald-trump-tax-schemes-fred-trump.html|title=Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father|work=[[The New York Times]]|last1=Barstow|first1=David|author-link1=David Barstow|last2=Craig|first2=Susanne|author-link2=Susanne Craig|last3=Buettner|first3=Russ|date=October 2, 2018|access-date=October 2, 2018}}</ref> In 2018, he and his family were reported to have committed tax fraud, and the [[New York State Department of Taxation and Finance]] started an investigation.<ref name="Tax_Schemes"/> His investments underperformed the stock and New York property markets.<ref>{{cite web|title=From the Tower to the White House|newspaper=[[The Economist]]|date=February 20, 2016|access-date=February 29, 2016|url=https://www.economist.com/news/united-states/21693230-enigma-presidential-candidates-business-affairs-tower-white|quote=Mr Trump's performance has been mediocre compared with the stockmarket and property in New York.}}</ref><ref>{{cite news|first=Ana|last=Swanson|title=The myth and the reality of Donald Trump's business empire|date=February 29, 2016|access-date=September 29, 2021|newspaper=[[The Washington Post]]|url=https://www.washingtonpost.com/news/wonk/wp/2016/02/29/the-myth-and-the-reality-of-donald-trumps-business-empire/}}</ref> ''Forbes'' estimated in October 2018 that his net worth declined from $4.5&nbsp;billion in 2015 to $3.1&nbsp;billion in 2017 and his product-licensing income from $23&nbsp;million to $3&nbsp;million.<ref>{{cite web|last1=Alexander|first1=Dan|last2=Peterson-Whithorn|first2=Chase|url=https://www.forbes.com/sites/danalexander/2018/10/02/how-trump-is-tryingand-failingto-get-rich-off-his-presidency/|title=How Trump Is Trying—And Failing—To Get Rich Off His Presidency|work=[[Forbes]]|date=October 2, 2018 |access-date=September 29, 2021}}</ref>

Contrary to his claims of financial health and business acumen, [[Tax returns of Donald Trump|Trump's tax returns]] from 1985 to 1994 show net losses totaling $1.17&nbsp;billion. The losses were higher than those of almost every other American taxpayer. The losses in 1990 and 1991, more than $250&nbsp;million each year, were more than double those of the nearest taxpayers. In 1995, his reported losses were $915.7&nbsp;million (equivalent to ${{Inflation|US|.9157|1995|r=2}}&nbsp;billion in {{Inflation/year|US}}).<ref name=Buettner-190508>{{cite web|url=https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html|title=Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses|work=[[The New York Times]]|date=May 7, 2019|access-date=May 8, 2019|first1=Russ|last1=Buettner|first2=Susanne|last2=Craig|author-link2=Susanne Craig}}</ref><ref>{{cite web|url=https://www.theatlantic.com/ideas/archive/2019/05/trump-taxes/588967/|title=The Secret That Was Hiding in Trump's Taxes|work=[[The Atlantic]]|date=May 8, 2019|access-date=May 8, 2019|first=Conor|last=Friedersdorf|author-link=Conor Friedersdorf}}</ref>{{Inflation/fn|US}}

In 2020, ''The New York Times'' obtained Trump's tax information extending over two decades. Its reporters found that Trump reported losses of hundreds of millions of dollars and had, since 2010, deferred declaring $287&nbsp;million in forgiven debt as taxable income. His income mainly came from his share in ''[[The Apprentice (American TV series)|The Apprentice]]'' and businesses in which he was a minority partner, and his losses mainly from majority-owned businesses. Much income was in [[tax credit]]s for his losses, which let him avoid annual income tax payments or lower them to $750. During the 2010s, Trump balanced his businesses' losses by selling and borrowing against assets, including a $100&nbsp;million mortgage on [[Trump Tower]] (due in 2022) and the liquidation of over $200&nbsp;million in stocks and bonds. He personally guaranteed $421&nbsp;million in debt, most of which is due by 2024.<ref>{{cite web|last1=Buettner|first1=Russ|last2=Craig|first2=Susanne|author-link2=Susanne Craig|last3=McIntire|first3=Mike|date=September 27, 2020|title=Long-concealed Records Show Trump's Chronic Losses And Years Of Tax Avoidance|work=[[The New York Times]]|url=https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html|access-date=September 28, 2020}}</ref>

{{as of|2021|10|lc=n}}, Trump had over $1.3&nbsp;billion in debts, much of which is secured by his assets.<ref>{{cite web|work=[[Forbes]]|date=October 7, 2021|title=Trump's Debt Now Totals An Estimated $1.3 Billion|url=https://www.forbes.com/sites/danalexander/2021/10/07/trumps-debt-now-totals-an-estimated-13-billion/?sh=67fa55564575|first=Dan|last=Alexander|access-date=December 21, 2023}}</ref> In 2020, he owed $640&nbsp;million to banks and trust organizations, including [[Bank of China]], [[Deutsche Bank]], and [[UBS]], and approximately $450&nbsp;million to unknown creditors. The value of his assets exceeds his debt.<ref>{{cite web|last=Alexander|first=Dan|title=Donald Trump Has at Least $1 Billion in Debt, More Than Twice The Amount He Suggested|url=https://www.forbes.com/sites/danalexander/2020/10/16/donald-trump-has-at-least-1-billion-in-debt-more-than-twice-the-amount-he-suggested/|access-date=October 17, 2020|work=[[Forbes]]|date=October 16, 2020}}</ref>