Trump started out with 100's of millions. Musk started off significantly lower on the ladder.
Sure, a $1 million dollar loan from family is pretty generous, and an amazing starting place - certainly not a "from nothing" tale. However, it's not outlandish money for a business loan to a top-rated business school graduate with extensive industry experience either.
I'd also wager if you gave most people $1 million dollars, they would not turn it into billions within their lifetime.
Donald Trump had already taken over the business in 1971.
Seriously disingenuous to call it "his father's real estate empire" 30 years later.
Even more disingenuous to claim he received $413 million in today's dollars through tax dodges - it's not like you get paid by paying less taxes; that was money earned regardless. Not to mention the framing of "tax dodging" vs "paying the minimum amount the government required by law". (Taxes are due tomorrow - did you decide to pay more than you were required just out of generosity? I'd bet not.) It's also unclear what "records" the article is citing, since Trump's tax returns famously have never been released. I'd like to think, by now, if something nefarious was up with the Trump tax returns, the IRS would have taken notice...
Clearly the NYT has an axe to grind. Their word choice, and decision to lump a decade into one monetary number, and represent earnings earned while serving as company president as some sort of fatherly gift is clearly a misrepresentation of reality.
> Trump started out with 100's of millions
Flatly, this is wrong. Ran the company for 30 years before earning that money. That's not "starting out" no matter what way you want to frame it.
So, in short, this myth is busted.
A few thoughts: there are other sources that say there were significant other inputs, up to and including someone going to a Trump casino and buying $3.5M in chips and not playing. And there's the inflation value - a $1M loan in the 1960s is a lot more than $1M now.
> business loan to a top-rated business school graduate
Numerous people (including the faculty at said business school) have said that Trump was the worst student they'd ever seen, and at least one has made the claim that if it weren't for significant donations, Trump would never have graduated.
> I'd also wager if you gave most people $1 million dollars, they would not turn it into billions within their lifetime.
Quite possibly true. But in Trump's case he could have done absolutely nothing with the money he inherited and relied on earned interest and be richer than he is now.
Also a myth that's been busted numerous times. You don't live an extravagant life, gold plated everything, private jets, numerous high-rise towers, restaurants, golf courses, hotels and more without spending a single penny - which is the premise of that assertion. That assertion also assumes Trump inherited hundreds of millions of dollars, which isn't true, and would have had to make near perfect stock market investments over 50+ years, which nobody can achieve. So, essentially, the premise is total garbage.
> Trump casino and buying $3.5M
The casino's came way after Trump took over the organization. So zero impact on his inheritance, which was the initial claim.
Look, I know a lot of people don't like Trump, and have a serious vested interest in seeing him fail or knocking him down several pegs... but this is just petty and an untrue representation of reality. There's plenty of real things to knock him with... but this isn't one of them.