Lucky Loser: How Donald Trump Squandered His Father's Fortune and Created the Illusion of Success
by Russ Buettner
View on GoodreadsTrump received more than $400 million from his father, in today's dollars, through loans never repaid, trust funds and interest on loans that existed only on paper. Buettner and Craig set that against the self-made image, and you follow the money through casino bankruptcies, defaults and rescues.
Core ideas
- The write-off: Fred Trump wrote off a $15 million loan when his son fell behind on mortgage payments, and the authors suggest it may have amounted to tax fraud.
- Rescued twice: His father bailed him out, then The Apprentice did, but legal judgments and heavy spending put that fortune at risk.
- What the returns show: Confidential tax records show consistent losses masked by licensing and media exposure, and an IRS audit could bring a bill near $100 million.
Published2024
Pages528
ISBN9780593298640
ReadSep 2024
