Live
- G20 Leaders Will Talk About Climate, Taxes, and Trump's Return in Brazil
- COP29: CDRI announces $8 million funding for 12 projects to address climate crisis
- Anti-Telgu remarks: Actor Kasthuri Shankar moves court for bail
- Samsung AR Smart Glasses Set to Launch in 2025, Featuring Ray-Ban Meta-Like Design
- Kerala Industries Minister confident that new policy will boost plantation sector
- Madras HC plans inter-departmental monitoring committee to combat drug use in TN
- Bihar: Spotted deer dies due to heart attack in Banka district
- Mushtaq Ali T20: Shami to spearhead Bengal bowling attack, Gharami named captain
- Kharge's clarion call to oust Maharashtra's BJP-backed MahaYuti
- Why Ukraine’s Use of US Missiles Against Russia Could Lead to World War 3
Donald Trump started off with small loan of $1 million from dad
Highlights
Donald Trump enjoys his reputation as a magnate whose own smarts and business savvy made him a billionaire, but he acknowledged Monday that his father helped him out - with a \"small\" million-dollar loan.
Donald Trump enjoys his reputation as a magnate whose own smarts and business savvy made him a billionaire, but he acknowledged Monday that his father helped him out - with a "small" million-dollar loan.
"It has not been easy for me," the Republican Party frontrunner in the 2016 presidential nomination race told an NBC television-hosted town hall in New Hampshire.
"I started off in Brooklyn. My father gave me a small loan of a million dollars," he said, noting that he had to pay back his father, New York self-made millionaire real estate mogul Fred Trump, with interest.
"But I came into Manhattan and I started buying properties, and I did great."
The comments raised eyebrows during a campaign season where conservative voters have all but rejected former Florida governor Jeb Bush, the son and brother of two former presidents, in favor of self-made political outsiders like Trump and retired pediatric neurosurgeon Ben Carson, who grew up poor.
Questioned about the remarks, Trump acknowledged that his circumstance might sound easy to the average voter.
"You're right, but $1 million isn't very much compared to what I've built," he told NBC.
"I mean, I've built one of the great companies, but it's always been, you know, you can't do this, you can't do that."
Trump pegs his own worth at an astounding $10 billion, but Forbes magazine has put it closer to $4.5 billion.
Trump worked for a time for his father, who built thousands of residences in Brooklyn.
In the 1970s, he struck out on his own by constructing several buildings in Manhattan, many of which now bear the Trump name.
His business has gone global, and he has developed hotels, golf courses, resorts and luxury high-rise residence buildings around the world.
Next Story
ADVERTISEMENT
