In the heated arena of the U.S. presidential race, Vice President Kamala Harris has been making waves with her pointed critiques of former President Donald Trump’s business history. During a rally in Charlotte, North Carolina, on September 12, Harris unveiled her proposal for a $50,000 tax deduction aimed at small business startups. She then took a direct jab at Trump, asserting, “You know, not everybody started out with $400m on a silver platter and then filed for bankruptcy six times.”
Harris’s remarks have sparked a flurry of fact-checking, with many turning to a recent article from Al Jazeera that delves into the veracity of these claims. The article references a comprehensive 2018 analysis by The New York Times, revealing that Trump did indeed receive approximately $413 million from his father, Fred Trump, over his lifetime. However, this sum was not a single lump sum at the start of his career but rather dispersed over many years.
During a recent debate, Trump countered Harris’s claims, stating, “I wasn’t given $400m. I wish I was. My father was a Brooklyn builder. Brooklyn, Queens. And a great father, and I learned a lot from him. But I was given a fraction of that, a tiny fraction, and I built it into many, many billions of dollars.” The debate further intensified when Harris reiterated her points in a conversation hosted by Oprah Winfrey.
The Al Jazeera article also examines the claim of Trump’s six bankruptcies, confirming its accuracy. Trump’s financial struggles included high-profile bankruptcies such as the Trump Taj Mahal casino in 1991 and Trump Entertainment Resorts in 2009, among others. Experts have noted that while Trump did experience these financial setbacks, they are not uncommon in the business world.
Our Ruling
While Harris’s statement about Trump’s business beginnings contains elements of truth, it omits significant details. The New York Times investigation clarifies that Trump did not start his business career with $400 million readily available. Instead, he had the prospect of inheriting a portion of his father’s substantial real estate empire. This nuanced reality leads us to rate Harris’s statement as Half True.
Conclusion
As the presidential race progresses, the scrutiny of candidates’ claims remains crucial. Harris’s comments highlight the ongoing debate about wealth and privilege in America, while Trump’s rebuttal underscores the complexities of his business legacy. The full story, as always, is layered and multifaceted.
More Articles
Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!
Florida’s home insurance market is experiencing a wave of optimism as recent litigation reforms lead to fewer lawsuits, stronger insurer stability, and even rate reductions. With companies like Florida Peninsula lowering premiums and 17 new insurers entering the state, real estate, mortgage, and insurance professionals can expect smoother transactions, increased buyer confidence, and a more competitive market environment in the year ahead.
Mortgage rates have dipped to levels not seen since 2022, with the 30‑year fixed averaging just 6.361% and Freddie Mac reporting an even lower 6.06%. The drop is reshaping buyer affordability, sparking renewed market activity, and creating fresh opportunities for real estate professionals—especially in fast‑moving markets like Florida.
The 2026 housing market is shaping up to be one of the most pivotal in years, with mortgage rates showing slight relief, affordability shifting toward the Midwest and South, and buyers turning to options like ARMs and new‑construction homes. Early signals point to new opportunities for buyers, investors, and real‑estate professionals—especially those ready to navigate a market defined by moderate rate drops, regional affordability gaps, and builder‑driven incentives.
Ares Commercial Real Estate CEO Bryan Donohoe sold US$107k in shares this week, trimming his stake by 13% and adding to a pattern of insider selling with no insider purchases in the past 12 months. With insider ownership sitting at a modest 1.6%, the activity signals a cautious tone inside the company—something real estate, mortgage, and finance professionals may want to watch as they assess broader market confidence.
Florida’s 2026 legislative session is officially underway, launching a wave of high‑impact bills targeting property insurance reform, a proposal to eliminate property taxes, new education attendance requirements, and even an AI Bill of Rights. With over a hundred bills already filed, real estate agents, investors, insurers, educators, and other licensed professionals can expect significant regulatory shifts that may reshape Florida’s housing market, insurance costs, and professional compliance standards.
Warren Buffett’s timeless investing wisdom is more relevant than ever in 2026. Despite decades of market change, his core lesson remains the same: long‑term conviction outperforms short‑term prediction. From embracing occasional underperformance to avoiding emotional decisions, Buffett’s philosophy highlights why deep understanding and steady confidence are more valuable than trying to forecast market swings. This mindset isn’t just for investors—it’s a guiding principle for professionals looking to grow their careers with clarity and purpose.
