Fact check: Did Trump start with $400M and then file for bankruptcy six times?


Fact check: Did Trump start with $400M and then file for bankruptcy six times?

The Times article detailed two streams of money that went to Trump before he went to work for his father, in 1968 after graduating from the University of Pennsylvania -- money he would have been able to access before he "started out" in the business world.

One involved "ground lease payments," a financial strategy in which Fred Trump built apartment buildings, then set up lease agreements for the land under these buildings. The beneficiary of those lease agreements were Fred Trump's children -- eventually five, including Donald -- through a trust. Fred Trump set up ground leases for two of his developments in Brooklyn, the first of which became active when Donald Trump was 3 years old, the Times reported.

Previous articleNext article

POPULAR CATEGORY

corporate

12813

tech

11464

entertainment

15995

research

7394

misc

16829

wellness

12912

athletics

16929