During Thursday night’s Republican debate at The University of Houston, Sen. Marco Rubio (R-FL) put rival candidate Donald Trump on blast — claiming that if he hadn’t inherited money from his father, Trump would likely just be selling watches in New York City.
“Here’s the guy that inherited $200 million,” said Rubio. “If he hadn’t inherited $200 million, you know where Donald Trump would be right now? Selling watches in Manhattan.”
Trump fought back, saying, “I took $1 million, and I turned it into $10 billion.”
The comments came after the two candidates were fighting about U.S. businesses and trade with other countries, with Rubio also criticizing Trump’s history of employing undocumented immigrants, as well as his “fake university” — for which Trump is now being accused of fraud.
Trump has touted his business success, which he attributes to his deal-making acumen, throughout the campaign. But Rubio correctly notes that Trump’s success would not have been possible without his family’s financial support.
Trump has admitted he received a $1 million loan from his father when he first started his career as a developer. But the privilege didn’t stop there. Throughout his career, he has also benefited from his family’s wealth in other ways, like tax breaks, loans from siblings, and protection from tax bankruptcy that could be worth more than $100 million. As CNN previously reported, “In the early 1990s, as two of his casinos went bankrupt and his Trump Airlines failed, he went to his siblings for loans totaling $30 million… This money allowed Trump to stay in business at a time when he was $900 million in the red.”