Donald Trump, who has said he looks forward to filing disclosure statements if he becomes a presidential candidate, has a net worth of more than $7 billion, sources told POLITICO.
The eye-popping figure is far higher than the $2.7 billion that Forbes Magazine valued his net worth to be last month.
“If and when Donald Trump announces his decision to run for the office of the presidency, he will be filing financial disclosure statements that will show his net worth is in excess of $7 billion with more than $250 million of cash, and very little debt. He is very, very liquid,” said a source with knowledge of Trump’s financial holdings.
There has been speculation that Trump might self-finance a campaign, but he also has said that he intends to seek contributions from supporters.
Candidates for the presidency are required to file extremely detailed financial disclosure statements within 30 days of running for the office. Candidates are able to get roughly two extensions, each for 45 days, with the Office of Government Ethics if they have a legitimate reason.
But the detailed nature of the filings has prompted questions about whether Trump would go through with the disclosure process, which elections lawyers all describe as invasive and potentially embarrassing.
Trump himself never given a hard figure of his net worth, amid questions among business reporters about The Donald’s value.
He has stopped at saying publicly that his “brand alone is worth $5 billion,” and recently told Time Magazine that he looked forward to showing his financial filings if he runs, “because they are huge.” Trump recently went after Mitt Romney saying he had much more money than the former Massachusetts governor whose net worth was revealed as up to $250 million in disclosure forms he filled when running for president in 2008.
Trump adviser Michael Cohen would only say that the developer has said he’ll file disclosures if he becomes a candidate, and that he didn’t have access to such information to make available now.
(Source: Politico)
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2 Responses
Does anyone know how generally accepted accounting principles would require Mr. Trump to account for (a) his need for public attention, and (b) that thing on Donald Trump’s head? I think they are liabilities and would severely reduce his net worth, but I am not sure how GAAP addresses those items.
Obama has already proven that he did not have enough experience to do the job. What experience does Trump have? Money does not make you a politician nor does it make you a candidate for president. Ask all the creditors he hasn’t paid in the past if they would vote for him?