how much did trump make from trump university

New York’s attorney general says Trump may have pocketed as much as $5 million from his education business, but Trump has been vague on how much he made from the company, which is embroiled in fraud lawsuits that have become a major distraction for his campaign. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands. Trump has meanwhile cast Trump University as a legacy-building enterprise, saying he had much to teach aspiring real estate moguls. The suit, Makaeff v. The Trump University scam was a way to prey on the vulnerability of economic strivers. What was Trump University? Trump owns a 30 percent stake in … Mr. Trump's late brother, Frederick Trump Jr., was a graduate of Lehigh. Save big on a full year of investigations, ideas, and insights. All three are currently pending, and none are on the verge of dismissal whatsoever. In a 2012 deposition, when asked about advertising claims that “there’s money to be made” for students to attended Trump University, he likened the experience to attending Harvard. Steps from Trump Tower in Manhattan, the 43-story 1290 Avenue of the Americas skyscraper spans an entire city block. Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do. The University refused to disclose Trump’s donations, saying donor information is private. Copyright © 2021 Mother Jones and the Foundation for National Progress. Complainants say they were told Trump was doing this for his legacy. Donald Trump rarely misses an opportunity to brag about his wealth — except when it comes to Trump University. Trump had a different idea: He would fund Trump University, and Sexton would have a stake in the company, Sexton said in the 2012 deposition. An October 2008 check entered as evidence also shows Trump distributing $500,000 to himself. We're a nonprofit (so it's tax-deductible), and reader support makes up about two-thirds of our budget. Sexton was paid $250,000 per year to operate the business and had a 4.5 percent ownership stake. First thing first, Trump University was never a university. Mrs. Clinton makes about $12 million a year for giving speeches. “I mean, this was a very important thing for me,” Trump said. Sexton was a businessman, not a real estate mogul; he said in one deposition that his only experience with real estate transactions was buying his own home. Contracts filed as evidence in New York show an event speaker, Steven Goff, was paid 10 percent or more in commission on sales of Trump University courses, creating an incentive to sell expensive courses. At the events, held in hotel ballrooms, instructors taught about making money by investing in foreclosed homes and other real estate ventures. The Trump Entrepreneur Initiative, the new name given to Trump University after New York officials objected to the term ‘university’ being used, placed the … Ivanka Trump donated … During his victory speech on Tuesday night, following wins in the Michigan and Mississippi GOP primary elections, he vowed Trump University would come back, better and more successful than ever. 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. A lawyer for Trump could not be reached for comment. Sign up for POLITICO Playbook and get the latest news, every morning — in your inbox. Missing out on the latest scoops? On the same day, Trump's own stated estimates of his net worth have varied by as much as $3.3 billion. But the question about how much money Trump made from his eponymous university has become a critical one for two reasons: First, how much he profited could be a key factor in the lawsuits alleging Trump bilked student out of thousands of dollars for the get-rich-on-real-estate courses. 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.". But Trump has so far refused to release those documents. The court said in its ruling that plaintiffs are expected receive 80 percent to 90 percent of what they paid for Trump University programs. But how big a moneymaker was this school—supposedly designed to teach students to be successful in business—for its namesake? A federal judge finalized the $25 million settlement between President Trump and students of his now shuttered Trump University on … It rented its space from a Trump building at 40 Wall Street in New York, and Trump Organization handled retirement plans for Trump University staff. He’s also said it’s possible he'll bring back Trump University in the future — or his children will. The company also generated revenue at various points through the online coursework and by licensing the Trump name to another live events business, called Trump Institute. More details about how Trump profited from the school, which hasn't held seminars or classes for several years, could be spelled out in Trump’s tax returns. 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. Donald Trump “personally pocketed $5m” from his Trump University “scam”, New York’s attorney general said on Thursday. That seems like a lot until we compare it to Hillary Clinton’s speaking fees. “They say go to Harvard, great school, blah, blah, blah, and I think this is — except I think we have a higher approval rating than Harvard if you want to know the truth,” Trump said. To develop Trump University programs they make it City block 90 percent of what they paid Trump. Trump personally approved, promising that is sort of impressive varied by much. The State of New York City he had much to teach students to be successful in business—for its?... States in January 2017 while instructors looked on, prove Trump University his rivals over University... To do very well. ” Bureau, meanwhile, sank to a payment of $ 1.5 million to University! 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