Former President Donald Trump compared his golf and real estate empire to the Mona Lisa and other priceless works of art as he battles allegations that he inflated property values and defrauded banks to secure loans.
Trump made this extraordinary statement when describing his decision to hand over control of his company to his adult sons Don Jr. and Eric during his tenure as president — while New York AG Letitia James sat across from him in a Manhattan courthouse for a statement.
“We have the Mona Lisas of properties,” Trump told the prosecution in the April statement released Wednesday.
Then he boasted about his golf course in Turnberry, Scotland. ‘I could sell that. That is like selling a painting. A painting on the wall selling for $250 million,” he continued.
“I have great assets,” Trump gushed — raving about Mar-a-Lago and its property at 40 Wall Street, which he says is “the best location,” he told prosecutor Kevin Wallace in James’ office.
Former President Donald Trump compared his real estate empire to the Mona Lisa and Renoir’s great works in a 479-page statement to a New York court case
His claims are contained in a 479-page affidavit for a lawsuit in which James is seeking $250 million in damages. Prosecutors allege that he has increased his net worth by between $812 million and $2.2 billion each year for the past decade. James claims Trump inflated his valuations when he was looking for loans. Trump’s lawyers are asking a judge to dismiss the case, calling it a “crusade” over long-ago loans.
“You don’t have a case and you have to drop this case,” Trump told James. She has asked Judge Arthur Engoron for a preliminary injunction in her case, alleging that Trump defrauded insurers and lenders.
Trump made the ratings after he talked about how his own role changed after being elected president.
Trump invoked the Mona Lisa, saying selling one golf course was like ‘selling a painting’
Trump talked about the history at his Turnberry course in Scotland, claiming it was worth $250 million
He discussed the location of 40 Wall St. and said condo buildings were possible
Trump said his Doral job was for gambling
Trump’s real estate empire includes golf properties, branding deals and other assets
Trump also said he avoided a nuclear holocaust by doing business with North Korea
“I wasn’t really interested, believe it or not,” he said.
I was very busy. I was… I considered this the most important job in the world, saving millions of lives.”
“I think there would be a nuclear holocaust if I didn’t take on North Korea. I think there would be a nuclear war if I wasn’t elected,” he said.
The lawyer, who otherwise let Trump go on at length when discussing property values, said he would not “use my seven hours worth of nuclear war,” referring to a time rule AG James laid out at the top of the statement. .
Then Trump switched to Mar-a-Lago and Turberry, digressing on the “Duel in the Sun” between golfing legends Jack Nicklaus and Tom Watson.
“You know these are things that are of tremendous value to rich people,” he continued. He said he thinks you could sell it for “4 or 5 or 600 million dollars” because “it’s a painting.”
“The Mona Lisa is here, the Renoirs of real estate, many of my properties,” he said.
That was less than the credit he gave for his Doral course, where he once tried to hold an international summit, and hosted the Saudi-backed LIV wave.
He said that Mar-a-Lago, for which he paid $8 million, today “could be worth a billion 250, and a billion and a half maybe more than that.”
The lawyer asked him about his comparison between Mona Lisa and Renoir, prompting Trump to say, “If you give me a list of my properties, I’ll go.” I mean, a lot.’
He said Doral spanned nearly 300 acres and was “located in the middle of Miami, near the airport. He said it was “made for gambling” and that “you could build on it.”
“I think Doral could be worth two and a half billion on its own,” Trump said.
Forbes, one magazine Trump attacked in the statement, estimating the value at $153 million last year.
He said that 40 Wall Street was “quite full, even in this market,” and that if the city “someday comes back, you could convert the whole tower of 40 Wall Street into apartments and make an absolute fortune”—much bigger than a worth $600 million.
He said his company has more than $400 million in cash and “unfortunately my biggest expense is probably legal fees.”
The lawyer grew impatient and said, “We don’t need to ask the judge for more time” if the trial can be completed, and that “we have people who will testify at trial about the values of these properties.”
That led Trump to say he “could have added another $2.9 or $3 billion” to his company’s brand value, but “I didn’t have to.”