For someone who is consistently obsessed with their business acumen, Donald Trump has suffered a lot of business losses throughout his career. Thus far he's had six bankruptcies for five of his businesses and a new report shows that he sold all of his tech stocks at a time that ultimately meant he lost out on millions of dollars.
Newsweek revealed that among his 2017 tax information was that he and Melania Trump sold stock in six companies, including Apple and Microsoft. They peaked in 2021 and 2022, falling only recently. Trump purchased them in Oct. 2013 and gained $351,613 in profits from the Apple stock and $215,691 in Microsoft profits.
If they sat on the stocks they would have made $5 million as his Apple stock would now be worth $4.15 million and $3.669 million in Microsoft stocks. If they sold in Nov. 2021, they would have scored $7 million.
Meanwhile, the tech stocks for Trump's own company aren't doing all that well.
The information comes after the House Way and Means Committee requested the Trump tax documents as part of their effort to decide whether to make IRS audits mandatory for presidents. Currently, the IRS only has a "policy" of auditing presidents, but Trump's IRS neglected to do it while he was in office.
Trump biographers David Cay Johnston and Tim O'Brien have both indicated that Trump's self-described "genius" over his businesses was never what he claimed. In fact, Johnston was the one sounding the alarm that Trump was never actually the billionaire he claimed he was.
"Donald doesn’t have any blinders about ethics," Johnston explained in a 2019 interview. "They don’t exist to him. And this is also money-grubbing. If Donald were actually a billionaire, he’d invite the G7 leaders to come and stay for free for the three or four days it takes to hold the G7 meeting at Doral. He needs the money, because it’s all smoke and mirrors. It’s a con job. And I’m sure we have not seen the full picture yet of what’s happening. The story that Natasha broke with a colleague is extraordinary in showing the absolute money-grubbing nature of Donald Trump and his family and there's, I’m sure, a lot more yet to be uncovered."
The revelations from Trump's taxes also show suspicions of criminal tax evasion, Johnston said last month.