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Timothy L. O'Brien

President Trump Has Some Stories to Tell About Deutsche Bank

Why a German banking giant is in the news, and why the White House might worry.

A prized customer of the bank.

A prized customer of the bank.

Photographer: Al Drago/Bloomberg

In 2006, Donald Trump sued me for libel, claiming that a biography I wrote, “TrumpNation,” lowballed his wealth and misrepresented his track record as a businessman. Trump lost the suit in 2011. He had sought $5 billion in damages, which was, more or less, the difference between what he claimed he was worth at the time — about $6 billion — and what my sources believed him to be worth: $150 million to $250 million. ($5 billion was also substantially more than the advance my publisher paid me to write the book.)

During the course of the litigation, my lawyers got their hands on an assessment of Trump’s wealth that German banking giant Deutsche Bank AG had pulled together in 2004. Deutsche figured Trump had a net worth of about $788 million, even though he told them he was worth $3 billion.