Donald Trump’s attorneys argued to allow his defamation suit against a journalist to proceed. They claim that Timothy O’Brien damaged Trump’s reputation by asserting that the business icon is not a billionaire.
Lawyers for O’Brien and his publishing company Warner Books denied that O’Brien’s book cost Trump any business opportunities and asked a New Jersey judge to dismiss the suit. The judge has taken the matter under advisement and will rule by mid-summer.
O’Brien wrote “Trump Nation: The Art of Being the Donald” and cited three unnamed sources estimating Trump’s worth at $150 million to $250 million. According to statements recently made to the Wall Street Journal, Trump believes he is worth $5 billion, without consideration for the value of his name. In a deposition in the O’Brien case, Trump apparently estimated his net worth at $4 billion.
The Wall Street Journal reported that Deutsche Bank estimated Trump’s net worth in 2005 as $788 million. The bank calculated that amount in the underwriting of a $640 million construction loan for a Trump development in Chicago.
Trump’s suit claims that his reputation was damaged by statements in the book such as those calling Trump the “court jester of the American business scene”.
One of O’Brien/Warner’s more interesting defenses? Trump couldn’t have been damaged too badly because the book didn’t sell very well.
