Stephen Mihm, Columnist

How Trump's Self-Worth Became His Net Worth

The evolution of the "right to privacy" into the "right to publicity."

The sweet smell of success.

Photographer: Slaven Vlasic/Getty Images
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The Personal Financial Disclosure form that Donald Trump filed earlier this week with the Federal Elections Commissiom shows that the real estate holdings he has defined as the source of his vast wealth actually may be relatively modest. Rather, his most valuable asset is the Trump name, which the mogul has previously claimed to be worth $3 billion.

How did something as intangible as a family name come to acquire such value, on par with, or exceeding that of brick-and-mortar buildings or plots of land? A century ago, this question wasn’t remotely settled.