In 2000 Donald Trump told Fortune magazine, “It’s very possible that I could be the first presidential candidate to run and make money on it.”
During this primary season, Donald Trump made a point of not taking outside donations, but now he is. Some of Trump’s campaign money is making its way back to the candidate himself, because unlike any other candidate in modern history, Trump is using his businesses for his campaign.
Legally, Trump has to pay no more than fair market value, so we crunched the numbers to see how much he’s essentially paying himself, reports CBS News correspondent Julianna Goldman.
Donald Trump has contributed more than $52 million to his presidential campaign.
“I didn’t need to do this folks. I’m spending a lot of money,” Trump said during a rally in Ohio.
But the Republican nominee has offset some of that by pouring $7.2 million dollars -- just over eight percent of the money his campaign has spent through July -- into his own businesses.
Since Trump moved into the general election phase, that spending has increased.
During the first year of his campaign, he spent on average half a million dollars a month at his own companies. But as his campaign ramped up from the end of June through July, he spent $1.2 million at Trump businesses.
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