NYT tax story reveals Trump made $427M from NBC’s ‘The Apprentice’

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.

The subtext of the @nytimes report is the crucial importance of “The Apprentice” to Trump’s finances and ultimately his political career. No “Apprentice,” no cash flow to prop up many loss-making businesses. No “Apprentice,” no myth of Trump as a financial whiz to run on.

— Paul Farhi (@farhip) September 28, 2020

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.

Jeff Zucker is extremely high on the list of the people who made Trump possible, especially after he followed “The Apprentice” with saturation Trump coverage on CNN during the GOP primaries, helping crowd out other candidates https://t.co/R1jplky0hS

— Brendan Nyhan (@BrendanNyhan) September 28, 2020

One of the main takeaways from @nytimes Trump taxes story is that he’s nothing without Jeff Zucker-head of @CNN! He made almost all of his money from Apprentice & @CNN gave him hundreds of millions in free coverage in 2015-6 while it was trying to do a TV deal with him afterward.

— Cenk Uygur (@cenkuygur) September 28, 2020

By far the funniest thing of the Trump Tax news cycle are the NBC & Jeff Zucker media people going “You mean The Apprentice thing was just an act?”

Yes. You clowns. You idiots. He played the part Zucker wanted him to play, just like you are playing the part he wants you to play.

— Stephen L. Miller (@redsteeze) September 28, 2020

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.”

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. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits…..

— Donald J. Trump (@realDonaldTrump) September 28, 2020

…..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. Much of this information is already on file, but I have long said that I may release….

— Donald J. Trump (@realDonaldTrump) September 28, 2020

…..Financial Statements, from the time I announced I was going to run for President, showing all properties, assets and debts. It is a very IMPRESSIVE Statement, and also shows that I am the only President on record to give up my yearly $400,000 plus Presidential Salary!

— Donald J. Trump (@realDonaldTrump) September 28, 2020