Trump claimed the Trump Organization was worth $9.5 billion, but according to new filings, his business is worth $600-$700 million.
The Independent reported, “While the Trump Organization claimed $9.5bn (£7.2bn) in sales last year, Mr Trump’s public filings suggest revenues of less than a tenth of that amount, between $600m (£450m) and $700m (£530m).”
The fact that Trump isn’t worth anything close to the amount of money that he claimed to be worth is important to the Russia scandal.
If Trump really was a billionaire who didn’t need Russian money to keep his business afloat, his denials of connections to Russia would be more believable, but the picture that’s emerging is of a fake billionaire who US banks wouldn’t loan money to because of his numerous bankruptcies, so he had to look to Russia for cash.
Trump has spent decades building a false narrative of wealth and success around himself. Republicans thought that they were electing a successful businessman, but Donald Trump is a fraud. His company isn’t worth anything close to what he claimed. His brand is being destroyed by his unpopular presidency, and if the current trajectory continues, there could be another bankruptcy in Trump’s future.
The President is no billionaire. Trump is terrified that his finances will be exposed, because those finances are the roadmap of his relationship with Putin and Russia.