Trump was speaking at his New York Civil Fraud Trial when he over-inflated the value of his Mar-a-Lago estate not once but twice in a live car-crash interview.
Judge States Mar-A-Lago Is Worth $18 Million
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The backlash came after Justice Engoron’s assessment of Trump’s Mar-a-Lago Club resort, assessing its value at a mere $18 million, sharply contrasts with Trump’s initial purchase price of $10 million in 1985.
Trump Rants It’s “Worth Close to 100 Times That Amount.”
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In the interview, Trump angrily responded to the $18 million valuation, declaring Mar-a-Lago was “one of the most expensive properties in Florida” and further stated, “It’s worth approximately, could be close to 100 times that amount.”
“He ruled fraud. I mean, he said fraud,” said Trump, complaining that Judge Engoron was unwilling to accept Trump’s $1 billion-plus valuation.
Do the Math
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Trump stated that Mar-a-Lago should be valued ten times more than the court’s assessment, putting the property’s estimated worth at a staggering $1.8 billion.
Trump continued to persist that Mar-a-Lago would sell between “a billion to a billion and 5 million,” stating it would “sell very easily.”
Engoron Already Found Trump Liable for Fraud
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Supreme Court Justice Arthur Engoron had previously ruled that former President Donald Trump, his family, and the Trump Organization were liable for fraud.
Trump Accused of Inflating His Wealth With False Statements
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The court’s decision follows the lawsuit filed by New York Attorney General Letitia James, who claims that Trump boosted his wealth with misleading statements.
Trump Has Allegedly Been “Increasing His Net Worth.”
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Trump is on trial for exaggerating his net worth on financial statements to gain more favorable loan terms and business deals.
Trump Hits Out at the Attorney General
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At the start of his lengthy rampage about the recent developments in his ongoing fraud trial and the value of his beloved Mar-a-Lago estate, Trump hit out at NY Attorney General Letitia James.
“This is an attorney general. Letitia. That went out and campaigned on. I will get Trump. I will get Trump.” “No matter what. I will get Trump.” The former President was ranting.
Trump Accused the Attorney General of “Raving Like a Lunatic.”
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“they couldn’t believe her [Letitia] ranting and raving like a lunatic,” said Trump.
“She shouldn’t be allowed to be Attorney General. She has defrauded the public with this trial,” raved Trump, attempting to push the allegations of fraud from him onto the NY Attorney General.
“They Are the Fraudulent People,” Slams Trump
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Trump lashed back at the court, saying, “They are the fraudulent people….” He repeated his accusations of fraud later in the press interview.
Trump Inflated the Value of His Estate Not Once but Twice
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Once again, in true Trump fashion, he inflated the value of his Mar-a-Lago property to the press at the court where his hearing is currently ongoing.
Trump then repeated his over-exaggeration of Mar-a-Lago’s value: “They put down it’s worth $18 million, and it’s worth maybe close to 100 times that amount.” The second time, Trump implied Mar-a-Lago had a value close to $1.8 billion.”
Something Doesn’t Quite Add Up
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According to a 2023 market appraisal report by the city of Palm Beach, the total value of the property is $37 million, an increase of $6 million from 2022 and nearly $10 million more than the appraised value Engoron cited in his ruling this week.
Forbes Estimates Closer to $350 Million
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Forbes provided an estimated value of approximately $350 million for the estate in 2022, stating real estate experts not associated with Palm Beach speculated that the property was worth over $200 million.
Trump’s Allies Claim Value Is Closer to $1.5 Billion
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But Trump and other defendants in a civil fraud case brought by the NY Attorney General claim the property is worth more than $1.5 billion.
Mar-A-Lago Is an “Exclusive Compound”
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According to an affidavit from attorney Lawrence Moens, who described Mar-A-Lago as an “exclusive and expansive family estate located in Palm Beach’s most coveted areas,” expressed his assurance that he could quickly identify a potential buyer.
“An Overvaluation of at Least 2,300%”
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Additionally, Trump’s financial records indicated a valuation for the estate ranging from $427 million to $612 million, a figure Justice Engoron characterized as “an overvaluation of at least 2,300%” when compared to the assessor’s report.
How Does Mar-A-Lago Compare to Other Luxury Properties
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Trump’s Mar-a-Lago estate, encompassing 20 acres and featuring a multitude of amenities, has consistently been regarded as an esteemed and high-value property, particularly in light of the robust real estate market in Palm Beach in recent years.
Private Island in Palm Beach Doesn’t Even Come Close
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The only residential property that could compete with Trump’s price tag is a private island located in Palm Beach, which has the potential to become the most expensive residential sale in Florida, should it achieve its listed price of $218 million.
Even Trump Is Confused Over the Value of His Property
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Trump seemed to become increasingly confused at his interview at the court. Mar-a-Lago is worth “a billion,” a billion and a half, 750 million. That which is a fortune.” Trump Babbled in his interview.
“It’s the most expensive house probably in the world,” said Trump – well, if Trump had his way, it certainly would be.
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