Monday, February 1, 2016
Donald Trump is really, REALLY...
According to a piece in the Washington Post today (my emphasis):
Trump frequently touts his financial acumen. He often says he is worth $10 billion, though most analysts say that is exaggerated. Bloomberg News closely studied his 92-page financial disclosure report and concluded that he is really worth $2.9 billion.
That may sound like a lot of money. But don’t forget that Trump inherited a lot of money, too — about $40 million in 1974. In 1978, his net worth was estimated by BusinessWeek at $100 million. The Post’s Wonkblog calculated that if Trump had gotten out of real estate, put his money in an index fund based on the Standard & Poor’s 500 index and reinvested the dividends, he’d be worth twice as much — $6 billion — today.
National Journal noted that Warren Buffett was also worth $40 million in 1974 — and he managed to turn that into $67 billion today.