Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


White House hopeful Trump claims $10 bn net worth

Donald Trump speaks in Beverly Hills, California on July 10, 2015/AFP

Donald Trump speaks in Beverly Hills, California on July 10, 2015/AFP

NEW YORK, Jul 16- Property tycoon Donald Trump, one of the richest men in America, on Wednesday claimed a net worth of more than $10 billion in his race for the White House.

The ex reality TV star vying for the Republican nomination disclosed an income of $362 million last year, minus dividends, interest, capital gains, rents and royalties.

But Forbes, pointing out that Trump has lost a string of business deals after calling Mexicans rapists, insisted he was not worth more than $4 billion.

The 69 year old has trumpeted his staggering wealth an asset in his quest for political office.

Instead of portraying himself as an average Joe who understands the concerns of the hard pressed voter, he has presented his success as proof of his leadership abilities.

“This report was not designed for a man of Mr Trump’s massive wealth,” his campaign crowed about the financial disclosure.

The Federal Election Commission told AFP that the forms would be made public after they were reviewed.

Many boxes required that he check “$50 million or more” — such as in the case of a building worth $1.5 billion, it said.

On top of his income, he made more than $27 million by selling stocks in January 2014 and still holds a portfolio of around $22 million on the stock market, his team said.

He listed nearly 500 business entities, 91 percent of which he owns in full, and divulged a salary of around $214 million from starring in 14 seasons of the hit TV show “The Apprentice.”

Advertisement. Scroll to continue reading.

But as with almost every move he makes, his financial disclosure got Trump into hot water — this time with Forbes.

Trump blazed into the campaign in June, promising to “make America great again” in an offense-dishing speech that called Mexicans rapists and vowed to take on China.

Forbes said it downgraded its valuation of his wealth from $4.1 to $4 billion since his remarks about Mexicans ended severed ties with, among others, NBCUniversal and Macy’s.

Trump’s team said he was the one who turned down NBC. He was approached for a 15th season of “The Apprentice” but refused because of his presidential run, they said.

Despite the controversies, Trump’s plain talk has appealed to Republican voters, with polls putting him in the lead of a crowded field for a second straight week.

“I look forward to the challenge of winning the presidency and doing a fantastic job for our country,” he said.

On Tuesday, he sailed into fresh controversy over a campaign advertisement, posted on Twitter, which appeared to show Nazi soldiers marching under the White House.

His campaign blamed an intern and deleted the tweet.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...