Trump’s Mar-a-Lago, Valued at $18m by NY Judge, Sold for $20m in 1981.
Donald Trump’s Mar-a-Lago estate, valued at just $18 million by Judge Arthur Engoron in a civil fraud trial against the former president, sold for $20 million in 1981.
“In 1981, the New York Times reported that Mar-a-Lago was for sale for $20 million,” commented America First lawmaker Rep. Matt Gaetz, sharing a clipping of the story.
“Now, 43 years later New York Judge Engoron expects you to believe that Mar-a-Lago has not appreciated a cent and is actually worth $18 million.”
The discrepancy is even worse than Gaetz suggests, however, as $20 million in 1981 was the equivalent of roughly $70 million by 2023, due to decades of inflation.
The fraud case against Trump, brought by Democrat Attorney General Letitia James, hinges mainly on allegations Trump overvalued his business empire when applying for bank loans.
Engoron valuing Mar-a-Lago at just $18 million has been one of the most contentious events of the trial, with an expert witness valuing the property at over a billion dollars.
In 1981, the New York Times reported that Mar-a-Lago was for sale for $20 million.
— Rep. Matt Gaetz (@RepMattGaetz) February 2, 2024
Now, 43 years later New York Judge Engoron expects you to believe that Mar-a-Lago has not appreciated a cent, and is actually worth $18 million. pic.twitter.com/2SmpiVg8Vq
