Donald Trump is one of the most famous rich people in the world and his name has turned into a some sort of byword for wealth. In an article from 2005 a writer and journalist named Timothy L. O’Brien called Trump a millionaire instead of a billionaire. The real estate mogul filed a lawsuit against the journalist claiming the article questioning his net worth had damaged his brand and reputation.
Trump later admitted that his net worth fluctuates taking into consideration that it also includes the value of the Trump brand. The mogul also confessed that he tends to exaggerate sometimes about how well his business is going. Trump also added that no businessman in his right mind would ever want a reporter to know that he was doing poorly. William Tambussi, Trump’s lawyer, insisted that O’Brien put that claim in his book just to increase his sales. However, Andrew Ceresney, O’Brien’s lawyer, refuted the accusations stating that the journalist’s claim wasn’t hurtful and Trump couldn’t prove that he lost business as a result of it. In the end Trump’s defamation suit was dismissed by the court as insubstantial.