Who's your favorite self-made billionaire: Donald Trump or Kylie Jenner? | The Tylt
America's whole schtick is that it's the Land of Opportunity. The Constitution promises us the chance of "life, liberty and the pursuit of happiness." And sometimes those among us actually do rise to the heights envisioned by our Founders. People like Donald Trump and Kylie Jenner. Both of them have been named self-made billionaires. Both of them maybe got where they are by using massive wealth and fame accrued by their parents. But who cares about that! They're rich! It doesn't matter how they got there, right? Anyway, who's your favorite?
Who's your favorite self-made billionaire: Donald Trump or Kylie Jenner?
Forbes recently plopped Kylie Jenner on the cover of its "America's Women Billionaires" issue, crowning her "The Youngest Self-Made Billionaire Ever.” Now, people who pay attention to pop culture had a few issues with this distinction, according to the Washington Post.
Jenner is different from many other famously self-made people — a fact that was not lost on social media users, who have criticized the distinction since Forbes first gave it to her last summer. At the time, the magazine reported that Jenner started her business by investing “some $250,000 of her earnings from modeling gigs to pay an outside company to produce the first 15,000 lip kits."
...Jenner wasn’t the child of a soap and candle maker who had little formal education but still managed to become one of the nation’s Founding Fathers as well as a successful inventor and scientist. She wasn’t raised in a rural Mississippi farming community before making her way up the broadcast world to have her own talk show and TV channel. She is a member of the famed, and wealthy, Kardashian-Jenner clan, and millions watched her grow up on the E! Network’s hit reality series “Keeping Up With The Kardashians.”
But who among us didn't come from dynastic families built on piles of money and fame?! We could have all become a billionaire like Jenner if we just put our back into it! She deserves this honor.
Donald Trump built up his myth as a self-made, do-no-wrong businessman through years of self-promotion. And it worked! He's president! He told people he made his own money and that's why he should be allowed to run the country and a little under half of voters believed him. The New York Times, however, paints a slightly different picture.
Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.
But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.
Much of this money came to Mr. Trump because he helped his parents dodge taxes. He and his siblings set up a sham corporation to disguise millions of dollars in gifts from their parents, records and interviews show. Records indicate that Mr. Trump helped his father take improper tax deductions worth millions more. He also helped formulate a strategy to undervalue his parents’ real estate holdings by hundreds of millions of dollars on tax returns, sharply reducing the tax bill when those properties were transferred to him and his siblings.
But he can still be self-made if he made himself on tax dodges and debt. There's no one way to be self-made!