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Trump, the foul-mouthed deadbeat and Putin puppet

Trump was laughed out of court in 2007 for grossly overstating his assets

Trump first played the part of a billionaire by faking his way onto the Forbes 400 richest list in 1984 when his assets were actually $5 million.1 He continued to display the trappings of a billionaire, such as gold plated or gold painted toilet fixtures at various properties yet took a middle-income New York State tax deduction in two quarterly filings in 2016.2

In 2011, his wildly fluctuating claims of billionaire worth were laughed out of court. The saga began in 2005 when Trump's net worth was estimated at $150 to $250 million by New York Times editor Timothy O'Brien based on sources intimately familiar with Trump's finances.3 Then touting his wealth at $5 to 6 billion, Trump sued O'Brien for libel.4 That prompted a court-ordered close examination of his financial records, including five years of tax returns.5

In a two-day deposition in December 2007, Trump was caught inflating assets, understating liabilities and lying 30 times.6 Even his own accountant wouldn't vouch for the reliability of his figures.7 "My net worth fluctuates," Trump explained in the deposition, "with attitudes and with feelings, even my own feelings."8 His libel suit was dismissed, this dismissal upheld on appeal in 2011, with a stinging rebuke by the judge.9


  1. The Washington Post, "Trump lied to me about his wealth to get onto the Forbes 400. Here are the tapes.," April 20, 2018, https://www.washingtonpost.com/outlook/trump-lied-to-me-about-his-wealth-to-get-onto-the-forbes-400-here-are-the-tapes/2018/04/20/ac762b08-4287-11e8-8569-26fda6b404c7_story.html.
  2. CNN, "Trump campaign insists income-based New York tax credit is in error," June 6, 2016, https://www.cnn.com/2016/06/06/politics/donald-trump-new-york-tax-credit-income-error/index.html.
  3. Timothy O'Brien, TrumpNation: The Art of Being the Donald, Kindle Ed. (New York: Open Road Media, 2015), Loc. 78-79; Bloomberg, "Dear Mr. Trump: I'm Worth $10 Billion, Too," July 21, 2015, https://www.bloomberg.com/view/articles/2015-07-21/dear-mr-trump-i-m-worth-10-billion-too-; Bloomberg, "Trump's Financial Report? That's Rich," May 20, 2016, https://www.bloomberg.com/view/articles/2016-05-20/trump-s-financial-report-that-s-rich; David Cay Johnston, The Making of Donald Trump (New York: Melville House, 2016), p. 78.
  4. Bloomberg, May 20, 2016, op. cit.; Johnston, The Making of Donald Trump, p. 78.
  5. Johnston, The Making of Donald Trump, pp. 78-80; The Washington Post, "Trump: A True Story," August 10, 2016, https://www.washingtonpost.com/graphics/politics/2016-election/trump-lies/; Bloomberg, "I Saw Trump's Tax Returns. You Should, Too.," May 12, 2016, https://www.bloomberg.com/opinion/articles/2016-05-12/time-for-donald-trump-to-release-his-tax-returns.
  6. Forbes, "How Donald Trump Exaggerates And Fibs About His $4.5 Billion Net Worth," March 31, 2016, https://www.forbes.com/sites/chasewithorn/2016/03/31/how-donald-trump-exaggerates-and-fibs-about-his-4-5-billion-net-worth/; The Wall Street Journal, "Trump on Trump: Testimony Offers Glimpse of How He Values His Empire," May 18, 2009, https://www.wsj.com/articles/SB124261067783429043; The Washington Post, August 10, 2016, op. cit.
  7. Johnston, The Making of Donald Trump, pp. 78-80.
  8. The Wall Street Journal, May 18, 2009, op. cit.; Bloomberg, May 12, 2016, op. cit.; Johnston, The Making of Donald Trump, pp. 78-79.
  9. The Washington Post, August 10, 2016, op. cit.; Bloomberg, July 21, 2015, op. cit.; Johnston, The Making of Donald Trump, pp. 79-80.

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