'THE APPRENTICE’ SAVED TRUMP FROM FINANCIAL RUIN: CNN

Trump was apparently near bankruptcy in 2002. Then 'The Apprentice' happened. Before being approached to host "The Apprentice" nearly 20 years ago, Trump was not in an enviable position, according to the New York Times.

"Divorced for the second time, and coming off the failure of his Atlantic City casinos, Mr. Trump faced escalating money problems and the prospect of another trip to bankruptcy court," the paper reported. "On his income tax returns, he reported annual net losses throughout the 1990s, some of it carried forward year to year, a tide that would swell to $352.8 million at the end of 2002." However, beginning 2011, the show started losing heavily as its rating hit rock bottom.

After being asked to join "The Apprentice," Trump was awarded a 50% share of the show's profits, according to the Times. Those earnings turned out to be substantial: In 2005 alone, he earned $47.8 million from the TV program, the newspaper reported, citing tax records. Overall, his net income from the show is estimated to have reached as much as $197.3 million, reported Michelle Toh for CNN late on September 29, 2020.

"In what would be his most lucrative side deal," Trump partnered with multilevel marketing company ACN, which earned him almost $8.8 million over 10 years, according to the Times. (Multilevel marketing refers to a network of sales representatives who sell products directly to people in their communities in exchange for a commission.) Trump has taken heat directly over the matter. In May, a US judge allowed a federal fraud lawsuit against Trump, his three eldest children and his company to proceed, which accused them of "making knowingly false and misleading statements" about ACN. A lawyer for the Trumps said at the time that they planned to take the ruling to an appeals court.

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