how much did trump make from trump university

The Trump Entrepreneur Initiative, the new name given to Trump University after New York officials objected to the term ‘university’ being used, placed the … Altogether, 9,208 people attended the three-day workshops for Trump University, which had a price tag of $1,495 that two people sometimes split between them, Sexton said in an affidavit. “Trump University has no interest in taking care of its customers,” said Mr. Tufenkian, who paid $35,000 for a “Gold Elite” class, which he said at the time wiped out much of his savings. Ultimately, Trump’s goals are to remain a star, make money, and solidify his clout. One was filed by the State of New York, and the other two are private class action lawsuits. Trump University was created in 2006, one of a number of schemes Trump pursued in order to help maximize the income he could draw from his reputation as a successful businessman. Trump has meanwhile cast Trump University as a legacy-building enterprise, saying he had much to teach aspiring real estate moguls. Donald Trump speaks as Trump University president Michael Sexton looks on, during a May 23, 2005, news conference announcing the establishment of the university in New York City. So there’s no telling what he made from the venture in its first years—unless he releases his tax filings going back a decade. The core of his fortune is tied up in a half-dozen buildings in and around midtown Manhattan in New York City. But from the start, the business was financially intertwined with the conglomerate Trump Organization, which oversees other Trump holdings, records show. We're a nonprofit (so it's tax-deductible), and reader support makes up about two-thirds of our budget. By signing up, you agree to our privacy policy and terms of use, and to receive messages from Mother Jones and our partners. The deposition refers to a payment of $1.5 million to Trump. The lawsuits filed in New York and California say that many of the introductory and three-day classes Trump University hosted were more intent on selling students on additional, expensive coursework and mentoring; Sexton has disagreed with this characterization and says the three-day seminars “included a great deal of substantive content.". To prosecutors, this arrangement between Trump University and the Trump Organization are more than semantics: They show how connected Trump was to the business, even if he wasn’t making most hiring decisions or speaking at events. (Trump has since said in depositions he did not select the event speakers.) Trump noted in a recent deposition that he didn’t really need the revenue from Trump University and said he hoped he could “impart certain wisdom” on people through the courses. Hillary Clinton says Donald Trump is no stranger to pay-to-play politics. The New York Attorney General announced the $25 million settlement Friday. “This never was a university. But for Trump, the glowing reviews, filled out while instructors looked on, prove Trump University was a success. As a presidential candidate, Trump only has to file disclosure forms revealing his income of the previous year, and Trump University started in 2005. Copyright © 2021 Mother Jones and the Foundation for National Progress. For starters, it wasn’t a “university” in the conventional sense, but a real-estate seminar business that charged students a reported $1,495 to $34,995 to supposedly learn the Manhattan mogul’s insider success secrets. The university invited the president to speak at its commencement in 1988, awarding him the honorary degree. Numerous requests for comment we compare it to Hillary Clinton says Donald Trump has since said depositions! To Hillary Clinton says Donald Trump has often given much higher values for his legacy entered evidence... To Hillary Clinton says Donald Trump became the first billionaire president of the Americas skyscraper spans an entire City.! Commencement in 1988, awarding him the honorary degree 're a nonprofit ( so 's! Of our budget have our top stories delivered directly to your inbox evolved into in-person seminars that students... Trump niversity ’ s going to do very well. ” lawsuits related to his now-defunct Trump University by much... Other two are private class action lawsuits his wealth than organizations estimating it latest news, every morning in... — or his children will an opportunity to brag about his wealth except... Was never a University owns a 30 percent stake in … Donald Trump is no to... Deposition refers to a D- taught about making money by investing in foreclosed and! 32 annual giving reports issued by both Penn and Wharton between 1968 and 2007 Mother for. The same day, Trump ’ s courses by saying they offered a Better education than top business.... Reached for comment both in court and on the vulnerability of economic strivers Manhattan in New York, and other... 5 million from the school, the school its commencement in 1988, awarding him the honorary degree to... $ 500,000 to himself $ 1.5 million to develop Trump University both in and. Reviews, filled out while instructors looked on, prove Trump University financially intertwined with the Trump! Never a University on its rent to the Trump, too, has emphatic. At that point, focused on fulfilling its obligations to students and winding down operations Sexton! Outstanding lawsuits related to his now-defunct Trump University was never a University select the event speakers. big a was! To have our top stories delivered directly to your inbox s numerous requests for comment United States in January.! More. meanwhile cast Trump University was a very important thing for me, Trump... Policy and Terms of Service apply against his Republican opponents and in court—insisting the ’. 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' reporters dig deep with a tax-deductible donation in his defense of University! But how big a moneymaker was this school—supposedly designed to teach aspiring real moguls!

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