Donald Trump's Reported $916 Million Loss Is More Than A Country's GDP
If you're up on your latest Donald Trump news, you'll know by now that the New York Times released on Saturday a 1995 federal income tax form that shows Trump reported a massive loss. The loss was so big, in fact, that the Times reported it could have gotten Trump out of paying any federal income tax for 18 years. Not to mention, Trump's reported loss was more than some pretty big-ticket items, including the gross domestic product (GDP) of several small countries.
The documentation released by the Times shows that Trump declared a taxable loss of $915,729,293. According to an expert cited by the Times, a loss of that magnitude would clear Trump of more than $50 million in taxes per year for 18 years. In other words, those rumors you've been hearing that Trump probably doesn't pay income tax could very well be more than just he-said-she-said.
As of Sunday afternoon, the Trump campaign had not outright confirmed nor denied the tax documents. The campaign's statement asserted that "Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions." Even still, the hundreds of millions of dollars that Trump allegedly lost in 1995, per the Times' report, could dwarf some very expensive modern-day bills.
GDP Of The Gambia
The Gambia is a small country in western Africa of about 2 million people. According to the World Bank, The Gambia's GDP was just over $850 million in 2014, the most recent year of data provided. In other words, Trump reportedly lost more in 1995 than 2 million Gambians produced in 2014. Trump's reported loss was also greater than the GDPs of Samoa, the Federated States of Micronesia, and several other small nations.
Every Individually Won Lottery Jackpot Ever
The largest lottery jackpot in U.S. history was January's $1.6-billion Powerball jackpot. However, that record-breaking sum was split among three winning tickets. Each ticket was then worth about $528 million. Trump's reported loss, therefore, is greater than any sum won by an individual in a U.S. lottery. (Ironically, those lottery winners ended up taking home an even smaller fraction of Trump's loss because their winnings were subject, of course, to taxes.)
These 12 NBA Teams
At least 12 NBA teams are valued at less than Trump's reported loss, according to Forbes. Those teams range from the Orlando Magic, valued at $900 million, to the New Orleans Pelicans, valued at $650 million. Still, Trump's reported loss couldn't hold a candle to the league's most valuable team, the New York Knicks, which are valued at $3 billion.
Hofstra University's Endowment
Hofstra University, the site of the first presidential debate between Trump and Hillary Clinton, had an endowment of less than $411 million in 2015. That's less than half of Trump's reported 1995 loss. On October 19, Trump and Clinton will face off at the University of Nevada, Las Vegas, which had a $201 million endowment in 2015.
Rio's Olympic Main Compound
Trump's reported $915-million loss could have paid for several Olympic stadiums, including the aquatic center that played host to Michael Phelps, Katie Ledecky, and Ryan Lochte in Rio. According to the Financial Times, the aquatic center for the Rio Games cost more than $217 million Brazilian reals, which converts to about $66 million in U.S. dollars. The compound that housed the Games' main press center, basketball arena, and wrestling facility cost about $516 million in U.S. dollars.
Trump Force One
Trump's private jet, often called Trump Force One, reportedly cost the real estate mogul $100 million in 2010, according to the Times. He also owns three helicopters, each of which are valued at less than a million. Despite his reported loss in 1995, Trump was able to build up his air fleet — and he has put it to good use during his campaign.
The White House
Should Trump win November's general election, he'll move into a house on Pennsylvania Avenue in Washington, D.C. that's worth far less than his reported 1995 loss. Real estate experts recently valued the White House at somewhere between $90 million and $398 million.
It's probably hard for most Americans to fathom a loss of $915 million — but according to the Times' report, it could be fathomable for Trump. Then again, it's probably hard for most Americans to fathom the ability to avoid income tax for nearly two decades and owning three helicopters. Meanwhile, plenty of voters are still trying to fathom a Trump campaign for president.