Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
The Real Reason Donald Trump Is Rich
Posted
September 4, 2015
Views
613,551
Likes
5,384
Comments
2,032
Engagement
1.21%
September 4, 2015
613,551
5,384
2,032
1.21%
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5:14Now PlayingDonald Trump loves talking about what a great business man he is, and conservatives generally love to stress that they have single-handedly earned everything they have. Some new research on Donald Trump suggests otherwise. Cenk Uygur and John Iadarola (Think Tank), hosts of the The Young Turks, break it down. Tell us what you think in the comment section below.
"In an outstanding piece for National Journal, reporter S.V. Dáte notes that in 1974, the real estate empire of Trump's father, Fred, was worth about $200 million. Trump is one of five siblings, making his stake at that time worth about $40 million. If someone were to invest $40 million in a S&P 500 index in August 1974, reinvest all dividends, not cash out and have to pay capital gains, and pay nothing in investment fees, he'd wind up with about $3.4 billion come August 2015, according to Don't Quit Your Day Job's handy S&P calculator. If one factors in dividend taxes and a fee of 0.15 percent — which is triple Vanguard's actual fee for an exchange-traded S&P 500 fund — the total only falls to $2.3 billion.
It's hard to nail down Trump's precise net worth, but Bloomberg currently puts it at $2.9 billion, while Forbes puts it at $4 billion. So he's worth about as much as he would've been if he had taken $40 million from his dad and thrown it into an index fund.”*
Read more here
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The Young Turks September 3, 2015 Hour 1
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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