![]() Instead, he delivered a broad attack, calling the article “fake news” and “yet another politically motivated hit piece full of inaccurate smears” appearing “before a presidential debate.” In response to a request for comment, a White House spokesman, Judd Deere, did not dispute any specific facts. Indeed, the tax records show that his golf properties have been hemorrhaging millions of dollars for years. ![]() Trump secretly received from his father allowed him to assemble a wobbly collection of Atlantic City casinos and other disparate enterprises that then collapsed around him, the new influx of cash helped finance a buying spree that saw him snap up golf resorts, a business not known for easy profits. Trump, who, off camera, peddled worthless get-rich-quick nostrums like “Donald Trump Way to Wealth” seminars that promised initiation into “the secrets and strategies that have made Donald Trump a billionaire.” And there were schemes that exploited misplaced trust in the TV version of Mr. There were seven-figure licensing deals with hotel builders, some with murky backgrounds, in former Soviet republics and other developing countries. There was $500,000 to pitch Double Stuf Oreos, another half-million to sell Domino’s Pizza and $850,000 to push laundry detergent. The show’s big ratings meant that everyone wanted a piece of the Trump brand, and he grabbed at the opportunity to rent it out. Tax records show that Donald Trump earned $197 million directly from “The Apprentice,” and $230 million from licensing and endorsement deals that followed. It was making himself famous - Trump-scale famous - and monetizing that fame. Trump’s genius, it turned out, wasn’t running a company. And then how, in an echo of the boom-and-bust cycle that has defined his business career, he led himself toward the financial shoals he must navigate today. Trump’s improbable election to the White House.īut while the story of “The Apprentice” is by now well known, the president’s tax returns reveal another grand twist that has never been truly told - how the popularity of that fictional alter ego rescued him, providing a financial lifeline to reinvent himself yet again. Twelve years later, that image of the self-made, self-saved mogul, beamed into the national consciousness, would help fuel Mr. ![]() The red ink spilled from everywhere, even as American television audiences saw him as a savvy business mogul with the Midas touch. ![]() Trump filed his individual tax return reporting $89.9 million in net losses from his core businesses for the prior year. Months after that inaugural episode in January 2004, Mr. ![]()
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