Trump campaign sues New York Times over Russia op-ed

February 27, 2020

US President Donald Trump’s 2020 reelection campaign on Wednesday filed a lawsuit against The New York Times newspaper over an opinion piece it published in March 2019.

A statement from the campaign said the objective of the lawsuit was to hold the paper “accountable for intentionally publishing false statements against President Trump’s campaign,” in reference to the 2016 election drive.

Read more: Opinion: How Donald Trump undermines press freedom at home and abroad

‘Extreme bias’

The Trump team’s displeasure stems from an article written by US journalist Max Frankel which was headlined, “The Real Trump-Russia Quid Pro Quo.”

The subheading stated: “The campaign and the Kremlin had an overarching deal: help beat Hillary Clinton for a new pro-Russian foreign policy.” Quid pro quo is a Latin phrase meaning a favor in return for a favor.

A draft copy of the lawsuit accused the US daily of “extreme bias against (the campaign) and animosity” and accused The New York Times of having an “exuberance to improperly influence the presidential election in November 2020.”

NYT: Law is on our side

The New York Times responded to the accusation in a statement, saying: “The Trump Campaign has turned to the courts to try to punish an opinion writer for having an opinion they find unacceptable. Fortunately, the law protects the right of Americans to express their judgments and conclusions, especially about events of public importance. We look forward to vindicating that right in this case.”

Trump has frequently launched attacks on certain elements of the media both before being elected and after. He is hoping to win a second term when US citizens head to the polls on November 3.

Donald Trump’s empire

So, how rich is he?

Those looking into Trump’s wealth first and foremost encounter one thing – obscurity. There’s no clarity about his total wealth whatsoever. And no light was shed on it in the run-up to the presidential election, since Trump – unlike previous cadidates – had not published a tax declaration.

Donald Trump’s empire

Trump’s own statements …

… do not nearly match the estimates of others. In June 2015, he said he owned over $8 billion (7.7 billion euros). But “Forbes” put his wealth at $4.1 billion. In mid-July 2015, Trump stated he owned over $10 billion, while “Bloomberg” said at the time he possessed ‘only’ $2.9 billion.

Donald Trump’s empire

Global corporate network

According to the German business daily “Handelsblatt,” Trump owns shares in some 500 companies in at least 25 countries. There’s little information about what these firms do, and little about their revenues or profits. CNN claims Trump has 144 firms in 25 nations, while “The Washington Post” says he has 111 firms in at least 18 countries.

Donald Trump’s empire

Real estate money

Trump’s empire is “The Trump Organization,” which he took over from his father. He’s been in charge of it since 1971. It features real estate gems around the globe, among them 40 Wall Street in New York, Trump International Hotel Tower in Vancouver, and Trump International Hotel in Las Vegas (pictured).

Donald Trump’s empire

Four buildings in focus

Trump’s main wealth is based on four buildings, according to Forbes. The president-elect owns two office buildings in New York, and he owns shares in Trump Tower, Fifth Avenue. He also owns a building in San Francisco. “Forbes” calculates these real estate gems account for about 40 percent of the man’s total wealth.

Donald Trump’s empire

Hole-in-one

Let’s not forget the golf courses he owns – a total of 17 in the US, Ireland, Scotland and the United Arab Emirates. In May of this year, Trump said he logged an annual revenue of $306 million from these golf courses.

Donald Trump’s empire

No casino winning streak

Trump also pumped a lot of money into casinos and leisure centers in Atlantic City and Florida. The Taj Mahal casino in Atlantic City reportedly cost Trump about $1 billion. It went bust in 1991; three insolvencies followed in 2004, 2009 and 2014 respectively. The casino finally went out of operation on October 10, 2016.

Donald Trump’s empire

‘You’re fired’

Trump also tried his luck in the entertainment media. Many Americans remember him as anchor and producer of the successful series “The Apprentice,” televised from 2004 to 2011.The show was broadcast in 17 nations.

Donald Trump’s empire

Loan providers

Legal battles and failed deals: Most US lenders have turned their backs on Donald Trump. Not so Germany’s Deutsche Bank, which is believed to be the man’s major loan provider. The “Wall Street Journal” says Deutsche has granted him $2.5 billion in loans since 1998. According to CNN, Trump still owes some $360 million to the Frankfurt-based global bank.

Donald Trump’s empire

Giobal conflicts of interest?

These seem almost certain. In the past, entrepreneurs elected to become US presidents have handed over their businesses to a blind trust. While not losing ownership rights, they no longer had a say in business operations. Trump, for his part, is planning to hand over his businesses to his adult children. He has said he will disclose the details of this scheme in January.

Author: Insa Wrede (hg)