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Donald Trump says that career 'has not been easy for me' Donald Trump says that career 'has not been easy for me'
(2 days later)
"It has not been easy for me. It has not been easy for me," Donald Trump said Monday morning during a televised town hall on the "Today" show. What hadn't been easy? His career."It has not been easy for me. It has not been easy for me," Donald Trump said Monday morning during a televised town hall on the "Today" show. What hadn't been easy? His career.
"I started off in Brooklyn," he explained. "My father gave me a small loan. … I came into Manhattan and I had to pay him back, and I had to pay him back with interest.""I started off in Brooklyn," he explained. "My father gave me a small loan. … I came into Manhattan and I had to pay him back, and I had to pay him back with interest."
The small loan? We took the number out of that quote for effect. It was a small loan of $1 million.The small loan? We took the number out of that quote for effect. It was a small loan of $1 million.
  
"My father gave me a small loan of a million dollars." -@RealDonaldTrump #TrumpTODAY https://t.co/ENwVyJVM9S
  
Trump's net worth has been an object of fascination for a long time, in part because much of his wealth is privately held and because he is enthusiastic about inflating the numbers. ("Have you ever exaggerated in statements about your properties?" he was asked during a deposition in 2007. "I think everyone does," he replied.)Trump's net worth has been an object of fascination for a long time, in part because much of his wealth is privately held and because he is enthusiastic about inflating the numbers. ("Have you ever exaggerated in statements about your properties?" he was asked during a deposition in 2007. "I think everyone does," he replied.)
It's clear that Trump's father, Fred Trump, was positioned to make a loan of $1 million when his son wanted to branch out into New York City's most famous borough. (The Trump family had, at that point, mostly owned properties in Brooklyn and Queens.) When he died in 1999, Fred Trump was worth $250 million. But even when the younger Trump entered the Manhattan market in 1973, Fred had property in the city worth $150 million — generating annual rents of $50 million — according to a contemporaneous New York Times report.It's clear that Trump's father, Fred Trump, was positioned to make a loan of $1 million when his son wanted to branch out into New York City's most famous borough. (The Trump family had, at that point, mostly owned properties in Brooklyn and Queens.) When he died in 1999, Fred Trump was worth $250 million. But even when the younger Trump entered the Manhattan market in 1973, Fred had property in the city worth $150 million — generating annual rents of $50 million — according to a contemporaneous New York Times report.
"Some of the candidates, they went in and didn’t know the air conditioner didn’t work and sweated like dogs, and they didn’t know the room was too big because they didn’t have anybody there. How are they going to beat ISIS?"
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"I will build a great wall — and nobody builds walls better than me, believe me —and I’ll build them very inexpensively. I will build a great, great wall on our southern border, and I will make Mexico pay for that wall. Mark my words."
Reuters
"Free trade is terrible. Free trade can be wonderful if you have smart people. But we have stupid people."
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"When Mexico sends its people, they’re not sending their best. They’re sending people that have lots of problems. They’re bringing drugs. They’re bringing crime. They’re rapists."
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"I just sold an apartment for $15 million to somebody from China. Am I supposed to dislike them?... I love China. The biggest bank in the world is from China. You know where their United States headquarters is located? In this building, in Trump Tower."
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"If you're interested in 'balancing' work and pleasure, stop trying to balance them. Instead make your work more pleasurable."
AP
"What separates the winners from the losers is how a person reacts to each new twist of fate."
"Everything in life is luck."
AFP
"You have to think anyway, so why not think big?"
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"Bush is totally in favour of Common Core. I don't see how he can possibly get the nomination. He's weak on immigration. He's in favour of Common Core. How the hell can you vote for this guy? You just can't do it."
Reuters
"You have to be hit by a tractor, literally, a tractor, to use it, because the deductibles are so high. It's virtually useless. And remember the $5 billion web site?... I have so many web sites, I have them all over the place. I hire people, they do a web site. It costs me $3."
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"Obama is going to be out playing golf. He might be on one of my courses. I would invite him. I have the best courses in the world. I have one right next to the White House."
PA
"Love him or hate him, Trump is a man who is certain about what he wants and sets out to get it, no holds barred. Women find his power almost as much of a turn-on as his money."
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"The American Dream is dead. But if I get elected president I will bring it back bigger and better and stronger than ever before and we will make America great again."
GETTY
By 1974, Trump was president of his father's company — meaning that the status of that modest million-dollar loan was probably somewhat irrelevant by that point; Trump was now in primary control of that sizable real estate empire.By 1974, Trump was president of his father's company — meaning that the status of that modest million-dollar loan was probably somewhat irrelevant by that point; Trump was now in primary control of that sizable real estate empire.
Trump apparently did need a loan a bit later on. As the Times's Timothy O'Brien reported in a 2005 look at Trump's net worth, Trump asked for a $10 million loan against his inheritance to bolster his faltering properties. His siblings, who had a stake in the pool of money that would be inherited, grudgingly agreed. A year later, he asked for $20 million more. Trump denies this account.Trump apparently did need a loan a bit later on. As the Times's Timothy O'Brien reported in a 2005 look at Trump's net worth, Trump asked for a $10 million loan against his inheritance to bolster his faltering properties. His siblings, who had a stake in the pool of money that would be inherited, grudgingly agreed. A year later, he asked for $20 million more. Trump denies this account.
Wherever the truth lies, it's clear that Trump got more than a $1 million loan (paid back with interest) from his father. He got control of his company and, ultimately, a large inheritance (although the where, when and how much on this is murky). And when he was in financial trouble in the early 1990s — being dropped from the Forbes 400 in 1990 — he had his family's wealth as a backstop.Wherever the truth lies, it's clear that Trump got more than a $1 million loan (paid back with interest) from his father. He got control of his company and, ultimately, a large inheritance (although the where, when and how much on this is murky). And when he was in financial trouble in the early 1990s — being dropped from the Forbes 400 in 1990 — he had his family's wealth as a backstop.
None of which is to say that it has been easy for Trump. As a result of some risky business deals, his fortune has risen and fallen significantly. One way he could have made it easier on himself? By not entering the real estate game at all. Earlier this year, the National Journal estimated that if Trump had invested his eventual inheritance in an index fund in 1982, he'd be worth $8 billion today.None of which is to say that it has been easy for Trump. As a result of some risky business deals, his fortune has risen and fallen significantly. One way he could have made it easier on himself? By not entering the real estate game at all. Earlier this year, the National Journal estimated that if Trump had invested his eventual inheritance in an index fund in 1982, he'd be worth $8 billion today.
Which, depending on whom you believe, might be more than he is currently worth.Which, depending on whom you believe, might be more than he is currently worth.
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