The Los Angeles Business Journal published its 58 Wealthiest Angelenos list (expanded with 8 more people from last year’s), and Pasadena (and the San Gabriel Valley) still had one of its own on it.
Based on a trove of confidential financial records, the Times report offers the first comprehensive look at the inherited fortune and tax dodges that guaranteed Donald Trump a gilded life.
A quick précis of the whole 13,000+ word story for those without the time.
Three reporters spent over a year digging through more than 100,000 pages of documents and chasing down key sources familiar with President Trump’s father and his empire.
The president has long sold himself as a self-made billionaire, but a Times investigation found that he received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.
I had suspected something like this for a long time and my suspicions were pushed during the election upon reports of Trump cheating sub-contractors and not paying them and again earlier this year when Jonathan Greenberg revised some of his 1980’s reportage for Forbes, but this is simply incredible!
While there are a lot of things one can take away from this stunning, thorough, and long read, the thing that strikes me is what Trump did to attempt to cheat his own father, who had been repeatedly been digging him out of trouble, when he was against the wall. He tried to defraud and steal from his greatest benefactor. How can anyone trust him to fight for America or real Americans when his entire substance as well as facade is a complete sham?
Combined with the millions he’s losing on real estate and other deals over the past decade, one is forced (again) to wonder who exactly is funding him now?
University of Michigan students Griffin St. Onge and Lauren Schandevel have published an online guide that anybody can edit called "Being Not Rich at UM." It's a Google Doc about navigating the costs of college that has grown to more than 80 pages.
The two juniors were inspired to create the guidebook after their student government published its own guide about "cost-effective" living at the university, which St. Onge, a first generation college student, found out-of-touch. Its suggestions included skipping weekly manicures and opting to do your own laundry instead of using a service.
"I didn't really realize the culture of Michigan before coming here," she says. "I had been warned about it a little bit, but I had never met the kind of wealth that some of the students have here by the time I came to university."
Schandevel and St. Onge decided to take matters into their own hands.
This is the first kind of financial aid that schools should be providing… It’s not that difficult and is a simple resource to open source and advertise widely. For first generation and low income students I imagine that it’s the type of resource that they should put into acceptance packages to improve their yields. In fact, honestly, it’s the type of resource that students of all income levels should be given to help make them better and more rounded students and people.
Posing as ‘John Barron,’ he claimed he owned most of his father’s real estate empire.
A liar to create perceptions about himself for decades and decades…