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Forbes 400 creator demolishes Trump’s lie that the presidency is costing him billions of dollars

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On Tuesday, President Donald Trump complained at a campaign stop at a Pennsylvania petrochemical factory that the presidency is costing him a “fortune” — possibly as much as $5 billion.

In conversation with CNN’s Erin Burnett, “Forbes 400” list creator and financial journalist Jonathan Greenberg shot down his lie.

“The president says it’s costing me from $3 to $5 billion, does that claim add up?” asked Burnett.

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“No, it doesn’t add up,” said Greenberg. “I mean, Donald Trump has never been worth $3 to $5 billion.”

“So the bottom line is he doesn’t have that much to begin with,” said Burnett. “Then the second part is, I’m losing money, right? I’m losing money because I’m president. Does that add up?”

“No, he’s losing money and he is making money,” said Greenberg. “He’s losing money partly because he is a very bad businessman. He brought the Doral Hotel for example, it’s bigger than his next 10 clubs put together. It loses money because he is a terrible manager and people don’t want to stay at his golf clubs. He’s losing money on luxury apartment buildings because the money launderers, the Russian and drug money cartels don’t want to invest with him because he’s more high profile. He makes money from Mar-a-Lago where he doubled the entrance fees, and he’s making money at the Trump International Hotel in Washington.”

“So, there is a negative, but the positive, you’re saying, overall outweighs,” said Burnett.

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“And the legal fees he’s speaking about,” added Greenberg. “Legal fees, they might be $5 million for a case for the — for some of the cases he is talking about. He is talking about $5 billion. That’s 1,000 times that much. And most legal fees are related to criminal activities he has engaged in or suspected of, such as Trump University and his foundation where he took money from them. So those are most of his legal fees.”

Watch below:

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GOP lawmaker hammers Trump for Ukraine server conspiracy theory: ‘Are we trying to exculpate Russia?’

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Rep. Francis Rooney (R-OK) on Friday signaled that he was taking House Democrats' impeachment inquiry into President Donald Trump far more seriously than many of his Republican colleagues.

During an interview with CNN's Poppy Harlow, Rooney said he was very disturbed at the president's efforts to prove a debunked conspiracy theory about Ukraine purportedly being behind the hack of the Democratic National Committee in 2016, despite the fact that all evidence that has been uncovered points directly to Russia as the true culprit.

Harlow then asked him what he made about House Speaker Nancy Pelosi's (D-CA) comment that "all roads" in the Ukraine scandal lead back to Russian President Vladimir Putin.

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CNN

‘We’ve entered a shame-free zone’: CNN’s Sciutto appalled by Trump’s ‘mind-boggling’ G7 corruption

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CNN's Jim Sciutto on Friday did not mince words when talking about President Donald Trump's decision to host next year's G7 summit at his own golf course in Doral, Florida.

During a segment about the president's multiple corruption scandals, Sciutto described Trump's G7 gambit as the president "explicitly, publicly steering a taxpayer-funded government contract to [his] own business." He then asked former federal prosecutor Renato Mariotti to comment on why this scandal might get Trump into hot legal water.

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‘We’re ready to vote’: Oversight Committee Dem claims Congress has the goods for impeachment

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Appearing on CNN's "New Day," Democratic Rep. Ro Khanna (CA), who sits on the House Oversight Committee, said he and other Democrats have enough in hand to vote on the impeachment of President Donald Trump.

Speaking with host John Berman, Khanna was pressed on what he had learned behind closed doors from former and current officials working in Trump's administration, saying he couldn't divulge any more than has previously been released but that there was enough there to raise serious issues about Trump's continuing as president.

Pressed by host Berman whether lawmakers have enough to proceed with impeachment, the California Democrat didn't skip a beat and said yes.

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