President Trump made about $427 million from compensation, endorsements and licensing deals tied to his time on NBC’s “The Apprentice,” according to tax records obtained by The New York Times.
The hit reality show, which Trump was part of for 11 years starting with the series premiere in 2004, helped the president brand himself as a successful real estate mogul, an image he used as a springboard into politics.
The Times report, however, cited tax documents showing massive losses for Trump in the years leading up to his candidacy.
Some journalists noted after the Times article that without “The Apprentice,” Trump may not have been successful in capturing the Republican nomination in 2016.
Others drew attention to the connection between Trump and Jeff Zucker. “The Apprentice” was originally greenlighted by Zucker, who at the time was NBCUniversal president. In 2013, he became president of CNN, a frequent target of Trump’s criticism.
The Times report also said Trump paid just $750 in income taxes in both 2016 and 2017.
The president dismissed the report, calling it fake news.
“The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent,” Trump tweeted to his more than 86 million followers.
“I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits,” he continued. “Also, if you look at the extraordinary assets owned by me, which the Fake News hasn’t, I am extremely under leveraged — I have very little debt compared to the value of assets.”