There are two things to know about former President Donald Trump: He constantly lies and he's got money troubles.
Those two aspects of Trump's personality are on full display with the recent release of campaign finance records, the consequences of New York Attorney General Letitia James' civil probe into the Trump Organization. A report from Forbes' Chase Peterson-Withorn examining the documents found that (are you sitting down?) Trump greatly exaggerated his wealth.
As the report notes, Forbes is well-acquainted with Trump's frequent lies about his wealth. As far back as 1982, he sicced his lawyer Roy Cohn on Forbes, with Cohn insisting Trump had $500 million in liquid assets—more than the worth of his entire company at the time. The goal for Trump was to snag a higher spot on the Forbes list of the 400 richest Americans.
The New York Attorney General's investigation hinges on a similar issue—the allegation that Trump has frequently lied about his wealth and assets when it was financially beneficial.
Filings from Trump's last year in office put his liquid assets at $93 million—far less than his claim to have around $793 million just five years before. That $793 million was inflated as well, with documents revealing Trump actually had around $300 million in cash at the time. When he filed to campaign for President, this number changed again.
According to Forbes:
"But other documents soon introduced a different set of numbers. As a candidate for president, Trump was required to file a financial disclosure with the federal government. It showed a portfolio of cash and securities worth between $78 million and $232 million as of mid-2015."
People weren't exactly surprised.
When this is all over Trump will be found bankrupt or near bankrupt. Assets minus liabilities will be a negative number or close
He was never as wealthy as claimed. Never has been good at business. Theres a reason no American bank will loan him moneyhttps://t.co/9TeIro0Vgj
— Vernon Bush (@nonrev321) January 26, 2022
pic.twitter.com/oYwBj4HSI8
— Iridescent Ashes (@IridescentAshes) January 26, 2022
DUH! we’ve been saying that for years!
— Dean Kirkpatrick (@DeanKirkpatric5) January 26, 2022
Shocking!
— YingYangMom (@MomYing) January 26, 2022
‘No shit’ magazine with the initial report. 🙄
— Ryan (@Ryanspeaks140) January 26, 2022
Holy smokes imagine that. A pathological liar didn't tell the truth. Shocked I tell you - shocked!
— J T (@jt_man_united) January 26, 2022
They concluded it was just another part of Trump's big grift.
He can't steal it fast enough.https://t.co/NNvz7xCqF9
— Tea Pain (@TeaPainUSA) January 26, 2022
Lying creep.
https://t.co/Me6MZd524n
— @ToThrive (@ToThrive) January 27, 2022
He didn't even get a penny from all that grifting and manipulating. https://t.co/MN62zs6GqL
— RealMindlessGonzo (@realmindless1) January 30, 2022
Awkward.
@WhiteHouse/X
