4 ms·
No, the (unproven) claim was that the real estate was worth $1B in 2018 money, not when it was transferred, and not all went to Donald. > According to The New
by leereeves 1y ago
No, the (unproven) claim was that the real estate was worth $1B in 2018 money, not when it was transferred, and not all went to Donald.
> According to The New York Times, Fred and his wife, Mary, provided over $1 billion (in 2018 currency) to their [five] children
https://en.wikipedia.org/wiki/Fred_Trump https://en.wikipedia.org/wiki/Fred_Trump
Edit: Only four living children, oops. And the claim was "the equivalent today [2018] of at least $413 million" went to Donald.
https://www.nytimes.com/interactive/2018/10/02/us/politics/trump-family-wealth.html https://www.nytimes.com/interactive/2018/10/02/us/politics/t...
- bryanlarsen 1y agoBasic point is still true. NYC real estate has gone up in value far faster than inflation has. Also, Donald got approximately half of the fortune, not the 1/5 you would expect.
- moralestapia 1y agoNYC real estate hasn't gone up 10x during that time. As much as you want that to be true, you're just objectively wrong.
- NickC25 1y agoYou're right, it hasn't gone up 10x during that time, it's gone up far more. His trust also owned the land for the buildings, which is far more valuable than the buildings Fred built. Shit, my sister owns a walkup in lower Manhattan that she bought during COVID and it's already 3x'd in value as of latest appraisal. You're stretching back 40-50 years, and that was when NYC was a dirty hellhole. It's nice now. You bought in Brooklyn at that same time Fred bought up a lot of Manhattan, you're looking at a return around 300-400x EASILY. Manhattan, if you bought in the 70s and 80s, you're looking at a much higher multiple.