Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Trump: In his own words



NEW YORK (CNNMoney) -- Below are excerpts from Donald Trump's deposition conducted on Dec. 19-20, 2007, in his lawsuit against author Timothy O'Brien and Warner Books, then owned by Time Warner, CNN's parent company.

Andrew Ceresney served as the attorney for the defense.

On the damage the book did:

Ceresney: Mr. Trump, you also claim that the book damaged your reputation, correct?

Trump: Yes.

Ceresney: And that's because you are perceived publicly, you believe, as a billionaire, correct?

Trump: That's correct.

Ceresney: And the book --

Trump: I am a billionaire. I'm not perceived. I mean, I am a billionaire. Of course, if you read Tim O'Brien's writings and what was then transposed into the The New York Times, you would certainly not think that. But I am a billionaire, many times over, on a conservative basis.

Ceresney: And you believe that because the book, at least according to you, suggested that you were not a billionaire that damaged your reputation, correct?

Trump: Yes.

Ceresney: And you think that that has hurt you in your business dealings? Is that what you've said?

Trump: Well, I've lost deals. I've lost specific deals because of it.

On calculating his own net worth:

Ceresney: Mr. Trump, have you always been completely truthful in your public statements about your net worth of properties?

Trump: I try.

Ceresney: Have you ever not been truthful?

Trump: My net worth fluctuates, and it goes up and down with the markets and with attitudes and with feelings, even my own feelings, but I try.

Ceresney: Let me just understand that a little. You said your net worth goes up and down based upon your own feelings?

Trump: Yes, even my own feelings, as to where the world is, where the world is going, and that can change rapidly from day to day...

Ceresney: When you publicly state a net worth number, what do you base that number on?

Trump: I would say it's my general attitude at the time that the question may be asked. And as I say, it varies.

On having a thin skin:

Trump: I'm very thick-skinned if they tell the truth. In other words, I've had many bad articles over the years, and if they're accurately bad -- I mean, some things are bad, some things are good -- I can really handle it well ... Where I do become thin-skinned is when somebody writes bad things that are untrue."

On his valuations of his properties:

Ceresney: Have you ever done an analysis to determine whether the amount that you have contributed in cash to these golf courses is more or less than the amount that you have made from these golf courses?

Trump: It will be. They will all be very good investments in the future. This is ... this is a business that you start off slow, and then you get more and more members, and all of a sudden it becomes extremely profitable.

Ceresney: Mr. Trump, I asked you have you ever done an analysis?

Trump: No, I have never done an analysis.

Ceresney: Have you ever done a projection as to how much you anticipate you will profit on these courses over time in light of the contributions that you're making in cash?

Trump: Yes, I've done mental projections.

Ceresney: Mental projections?

Trump: Yes.

Ceresney: These are projections that you've done in your head?

Trump: Yes. To top of page

Index Last Change % Change
Dow 18,432.24 -24.11 -0.13%
Nasdaq 5,162.13 7.15 0.14%
S&P 500 2,173.60 3.54 0.16%
Treasuries 1.46 -0.05 -3.51%
Data as of 3:57am ET
Company Price Change % Change
KeyCorp 11.70 0.05 0.43%
Bank of America Corp... 14.49 -0.19 -1.29%
Ford Motor Co 12.66 -0.05 -0.39%
General Electric Co 31.14 -0.11 -0.35%
Chesapeake Energy Co... 5.42 0.23 4.43%
Data as of Jul 29
Sponsors

Sections

For the first time ever, Amazon and Facebook are more valuable than Berkshire Hathaway, the storied company run by legendary investor Warren Buffett. More

Venezuela's government issues a decree recently that makes it possible to force workers to work in the country's fields amid food shortages. More

Sara Mauskopf started Winnie to help parents find everything from parks to family-friendly restaurants. More

It's about to get harder for some luxury all-cash home buyers to hide their identity from the U.S. government. More