While President Trump ran in 2016 on the idea that he would be the wealthiest, most successful US president in history, he has been known for over-exaggerating his net worth time and time again. In fact, even though he claimed to be worth more than $10 billion during his campaign, even Bloomberg estimated that his actual net worth was closer to $2.8 Billion.
Now the ghost-writer for the president’s New York Times Best Seller, The Art of the Deal, Tony Schwartz, says that the President may actually be in debt. While discussing Bob Woodward’s new book, ‘Fear: Trump in the White House’ Schwartz began listing some of his biggest takeaways from the book, giving his opinion on each takeaway as well.
“Takeaway #2 from Woodward’s Fear: Trump doesn’t have much money. As Jared Kushne[r] put it: ‘He doesn’t have a lot of cash.’ My own guess: after debt, Trump may have a negative net worth. And he’s never been remotely close to being a billionaire,” Schwartz tweeted.
Being so close to Mr. Trump, shadowing him for many months during the writing of his book, Schwartz would likely have quite an insight into the man’s finances. At the same time, it has been over 30 years since the book was published, meaning everything about his finances may have changed significantly since that time.
Perhaps we will never really know if Trump is as wealthy as he says, especially since he has refused to release his tax returns which could show, not only his income, but also his income earning assets.
Ultimately the wealth of the man doesn’t make much of a difference to his presidency, but it’s the question of whether or not he lied to the American people in order to paint a picture to them which strayed from reality. That would matter.