Donald Trump’s campaign makes several claims. I’ve been fascinated by one: Vote For Me Because I’m Rich. He has essentially said that he can be successful as President because he’s been smart enough to get rich.
But here’s where it gets hard. Don claims to be worth $10 billion but there’s really no way to verify that. Some believe his net worth is half that.
But that’s OK. Let’s take him at his word and believe him when he says he is worth $10 billion.
Many times during his campaign he’s bragged that he started his career with a “small loan” of $1 million from his father. But he won’t tell anyone when he got the loan or how long it took him to pay it back.
In any case, let’s accept the fact that he got the loan shortly after he graduated from college in 1968. Assuming his math and timeline, he has turned $1 million in 1968 to $10 billion in 2016. That’s a gain of 10,000%. That’s impressive.
But let me tell my own story. I’m much younger than Don, and I graduated from Woodbridge Senior High School in 1978. My parents gifted me with an electric razor that was probably worth $35.00
Now don’t think I was cheated. My father was weary of my using his razor and gave me one of my own. And this was long before high school graduations commanded trips to Europe, SUV’s or other lavish gifts. Most of my classmates received gifts of a similar nature and none of us felt cheated.
Fast forward to now. In the 38 years since my graduation I’ve done many things, but now my wife and I are worth about $2 million. This comes from the value of our house, our cars, and the money we’ve saved for retirement. I won’t bore you with the details, but here’s my point:
Donald has increased his value by 10,000%. I’ve increased mine by 57,000%.
Full disclosure: I’ve been blessed. Much of my education at George Mason University, Boston College, St. Patrick’s Seminary, and Catholic University were paid for by my parents, the Stigmatine Fathers, and the Paulist Fathers.
But unlike Donald I’ve never declared bankruptcy. He claims he has never filed for “personal” bankruptcy but his companies have filed four times.
By Donald’s measure, I’m more successful than he is.