Trump chalked up US$1.17b in losses in over a decade and also partly profited from talking up stocks, NYT reports

(May 8): President Donald Trump, who won the presidency in part on his image as a successful business mogul, lost US$1.17 billion ($1.6 billion) over 10 years on failed business deals, according to tax records obtained by The New York Times.

The losses, in the 1980s and 1990s, were greater than those reported by nearly any other American taxpayer during that period, according to Internal Revenue Service data the Times said it had reviewed. In 1990 and 1991, according to the Times report, Trump’s loses of US$250 million a year were more than double those of the nearest taxpayer the IRS collected information on.

Democrats in Congress have been battling for the release of the president’s more recent returns, a clash that may likely end in court. Trump sold himself to voters as a master deal maker, who could bring the same success to the country as he did to his businesses. While he never personally filed for bankruptcy, his businesses sought bankruptcy protection four times.

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