3 ms·

Trump inherited his fortune, not exactly a bootstrapped entrepreneur.

• sogen 9y ago
  Inherited fortune made by an immigrant.
  • drpgq 9y ago
    Technically wasn't his father born in the US?
    • bcg1 9y ago
      His father inherited his money from his own father, who moved to the Klondike in order to dodge the German draft and became wealthy by running brothels catering to gold prospectors.
• fsagadhadffsh 9y ago
  Source for your claim?
  • SyneRyder 9y ago
    The famous quote from Trump himself is "My father gave me a small loan of $1 Million dollars" (around 0:40 in this video): https://www.youtube.com/watch?v=TXEOFHf1q9A https://www.youtube.com/watch?v=TXEOFHf1q9A On the other hand, that's less than the investment funding I've seen to some folks on HN, and it's the same amount of capital that would be required if you wanted to open a McDonald's store [1]. But I think a majority of people would regard that as starting from a wealthy position, and certainly not bootstrapping anyway. [1] https://www.franchisehelp.com/franchises/mcdonalds/ https://www.franchisehelp.com/franchises/mcdonalds/
    • deleted 9y ago
      [deleted]
    • mercurysmessage 9y ago
      Don't forget that $1 Million at that point in time is different than $1 Million now.
      • SyneRyder 9y ago
        Good point. As far as I can tell the loan must have been around 1968 - 1971, and this inflation calculator [1] puts that at $7 Million in today's money. [1] http://www.usinflationcalculator.com/ http://www.usinflationcalculator.com/
  • heliumcraft 9y ago
    His Father/Family had a net worth of $250M https://en.wikipedia.org/wiki/Fred_Trump https://en.wikipedia.org/wiki/Fred_Trump It's estimated he Inherited $40M http://www.politifact.com/florida/article/2016/mar/07/did-donald-trump-inherit-100-million/ http://www.politifact.com/florida/article/2016/mar/07/did-do... Trump himself claims he started off with "a small loan of 1 million dollars" https://youtu.be/mkKBXJRySFw?t=20s https://youtu.be/mkKBXJRySFw?t=20s