Donald Trump claims his net worth is over $10 billion, but Mark Cuban, a billionaire himself, says the New York businessman is worth significantly less than that.
In a radio interview on Wednesday, Mark Cuban said that not only does he doubt the $10 billion figure, but he isn’t even sure Trump is worth more than $1 billion, according to BuzzFeed. He pointed to the fact that Trump has not been very transparent when it comes to his finances, refusing for instance to release his tax returns.
Cuban also said that he looked at Trump’s FEC filings and concluded that he is a horrible businessman in certain respects.
“I think he’s good at real estate,” Cuban said of Trump. “I do give him a lot of credit there. I think he’s good at branding real estate. I don’t think he’s very good at brands for non-real estate products.” Cuban revealed that he personally questioned Trump about the wisdom of putting his name on so many products like Trump Steaks.
“I asked, ‘what the hell are you doing? Are you desperate for money?’ Seriously,” Cuban explained.
Finally, Cuban said he is far more rich than Trump and “it’s not even close.” As of 2015, Cuban’s net worth is $3 billion. He noted that when filing federal election campaign reports, a candidate must list all their cash and liquid securities and bonds, and Trump listed $165 million. Cuban speculated that this is “pretty much what he’s got,” meaning he thinks Trump’s net worth is far closer to $165 million than to $10 billion.
According to a new Politico report, many financial experts say Trump likely takes in far less than he claims, and this is the reason he refuses to release his tax returns.
“I know Donald; I’ve known him a long time, and it gets under his skin if you start writing about the reasons he won’t disclose his returns,” a hedge fund manager told Politico. The source went on to say that if Trump were to release his returns, “you would see that he doesn’t have the money that he claims to have and he’s not paying much of anything in taxes.”