"On the day Donald Trump became president of the United States, while inauguration festivities were still in full swing, he officially launched his 2020 reelection campaign.
"Donations poured in from more than 50,000 people across the country.
"But according to the latest federal filings, Trump still has not donated a penny of his own, while his businesses continued to charge the campaign for hotels, food, rent and legal consulting.
"That means the richest president in American history has turned $1.1 million from donors across the country into revenue for himself."
How Donald Trump Shifted $1.1M Of Campaign-Donor Money Into His Business
Is Trump smart or just another con man?
Does the confidence heuristic explain why so many Americans still find him credible?
Carnival barker extraordinaire.
A carnival barker whose many tax frauds may become his undoing?
Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
"The manipulation of values to evade taxes was central to one of the most important financial events in Donald Trump’s life. In an episode never before revealed, Mr. Trump and his siblings gained ownership of most of their father’s empire on Nov. 22, 1997, a year and a half before Fred Trump’s death.
"Critical to the complex transaction was the value put on the real estate.
"The lower its value, the lower the gift taxes.
"The Trumps dodged hundreds of millions in gift taxes by submitting tax returns that grossly undervalued the properties, claiming they were worth just $41.4 million.
"The same set of buildings would be sold off over the next decade for more than 16 times that amount."