Donald Trump‘s biographer David Cay Johnston, a Pulitzer Prize-winning investigative reporter, cast doubts on the former president’s claim of being worth $10 billion.
What Happened: Johnston, who has been covering Trump for years, expressed skepticism about the former president’s wealth during an appearance on CNN’s “Anderson 360.”
Trump, in 2015, boasted of being a billionaire ten times over. His presidential campaign’s press release stated that his income, excluding dividends, interest, capital gains, rents, and royalties, was $362 million.
Johnston, author of “The Big Cheat: How Donald Trump Fleeced America and Enriched Himself and His Family,” questioned Trump’s claims. “Remember Donald used to tell us he was worth $10 billion,” he said.
“He should be rolling in money if that’s the case,” he added.
“Evidently, he has to depend on begging for money from people,” said Johnston.
The biographer also pointed out a recent Reuters report where hotelier Robert Bigelow said he “gave him $1 million towards his legal fees a few weeks ago.”
“I made a promise to give him $20 million more, that will be to the super PAC,” Bigelow said, adding, “I was just sympathetic. They didn’t solicit anything from me. The $20 million would be spread out but ‘starts right away.'”
“If you have $10 billion, this wouldn’t be a big deal,” Johnston said. “But if you don’t have $10 billion and you just claim it, that’s a whole other story.”
Why It Matters: Trump’s net worth has been a subject of debate for years. In 2023, despite legal battles and a real estate crisis, his wealth was reported to have risen to $3.1 billion, $500 million more than when he left the White House in 2021.
However, he was excluded from the Forbes 400 list of America’s wealthiest individuals for 2023, with an estimated net worth of $2.6 billion — a drop from the previous year’s estimate of $3.2 billion.
Johnston’s skepticism comes amid Trump’s ongoing legal battles, which could potentially deplete his cash reserves. Trump is facing two significant legal verdicts in New York that could potentially wipe out most of his wealth. This comes as a potential setback for the presidential hopeful, whose brand is intertwined with his financial prosperity.
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