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Trump Family Business Worth A Fraction Of What President Has Touted

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Trump inflates business wealthDonald Trump has an inflated view of his assets. The president’s family business is worth about one-tenth of the value he has claimed, according to an analysis of the latest figures he has filed with the federal government.

Some of the discrepancy is due to a downturn in business, but the rest is credited to an overheated imagination, according to Crain’s New York Business reporter Aaron Elstein, who examined the numbers.

Elstein told NPR he feels a bit like he was played.

In 2016 the Trump Organization reported nearly $9.5 billion in revenues. But recent public filings by the president indicate that the company actually earned only as much as $700 million that year, Crain’s said.

Crain’s determined that Trump has been reporting inflated revenue since at least 2010. After examining the latest figures Trump has filed, Crain’s this month bounced the Trump Organization from the No. 3 spot on its list of largest privately held New York City companies down to No. 40.

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