The Rise of DeepSeek: A Wake-Up Call for US Tech Industry

US President Donald Trump has sounded the alarm over the rapid rise of the Chinese tech company DeepSeek, calling it “a wake-up call” for the American tech industry. The emergence of DeepSeek’s groundbreaking artificial intelligence (AI) model, R1, has sent shockwaves through the industry, shaking investor confidence and triggering significant losses on Wall Street.

A Blow to US Tech Giants

Shares in major US tech firms experienced a sharp decline, with Nvidia, the leading chip manufacturer, losing nearly $600 billion (£482 billion) in market value. The ripple effect of DeepSeek’s sudden prominence has raised concerns about the competitiveness of the US in the AI race.

What Makes DeepSeek Different?

The primary factor that has shaken the industry is DeepSeek’s claim that its R1 AI model was developed at a fraction of the cost incurred by its American competitors. The R1 model’s efficiency, combined with its low-cost production, has raised critical questions about the sustainability of US tech firms’ investment-heavy strategies and the future of America’s AI dominance.

DeepSeek’s Instant Success

In a testament to its immediate appeal, DeepSeek’s app has already become the most downloaded free application in the US, achieving this milestone just a week after its launch. The app has gained widespread attention for its user-friendly interface and powerful AI capabilities, which have quickly captured the interest of consumers and businesses alike.

Concerns About US AI Dominance

DeepSeek’s meteoric rise is sparking a broader conversation about the US’s ability to maintain its leadership in the global AI landscape. Analysts have pointed out that American firms have been heavily reliant on high-cost strategies involving advanced chip manufacturing and large-scale investments, whereas DeepSeek’s cost-efficient approach represents a significant disruption.

Trump’s Warning

President Trump’s comments reflect growing concerns about the strategic implications of DeepSeek’s rise. “This is a wake-up call for our tech industry,” he stated, emphasizing the need for US companies to rethink their strategies and innovate more efficiently to stay ahead in the global AI race.

The Path Forward for US Firms

DeepSeek’s success underscores the urgency for American companies to reassess their priorities. There is a pressing need for innovation that balances cost-efficiency with cutting-edge technology. As US firms grapple with the implications of this new competitor, industry experts suggest that collaboration, investment in talent, and streamlining processes will be critical to regaining an edge in the AI sector.

The rise of DeepSeek serves as a reminder of the highly competitive nature of the global tech landscape, highlighting the need for constant innovation and adaptability. Whether the US tech giants can respond effectively to this challenge remains to be seen.

Trump Sees Opportunity in DeepSeek’s Rise Despite Industry Concerns

Responding to the recent developments surrounding Chinese company DeepSeek and its AI breakthrough, President Donald Trump described the situation as potentially “a positive” for the US. Speaking to reporters aboard Air Force One, Trump remarked, “If you could do it cheaper, if you could do it [for] less [and] get to the same end result, I think that’s a good thing for us.”

Despite the shockwaves DeepSeek has sent through the US tech industry, Trump expressed confidence in America’s position, stating that the US will remain a dominant player in artificial intelligence.

A Disruptive New Player in AI

DeepSeek’s AI model, powered by its open-source DeepSeek-V3 technology, has gained significant attention for its claimed efficiency in development costs. Researchers from the company assert that the model was trained for approximately $6 million (£4.2 million), a stark contrast to the billions invested by US firms such as OpenAI, Google, and Meta. This has raised questions about the cost-effectiveness of American AI development strategies.

However, DeepSeek’s claims about its training costs have been met with skepticism. Industry experts are questioning whether the model’s performance truly matches the output of more expensive alternatives, and whether the reported costs include hidden subsidies or unaccounted infrastructure.

The Strategic Context

DeepSeek’s emergence comes amid heightened tensions between the US and China over advanced technology. The US has imposed restrictions on the sale of advanced chip technologies to China, aiming to limit Beijing’s ability to develop cutting-edge AI systems. Despite these restrictions, DeepSeek’s rise highlights China’s determination to remain competitive in the global AI race.

Balancing Optimism and Vigilance

While Trump’s remarks struck an optimistic tone, analysts caution against underestimating the long-term implications of DeepSeek’s rise. The company’s ability to innovate and deploy AI models at a fraction of the cost could force US tech firms to reconsider their strategies. At the same time, the growing prominence of Chinese AI raises broader geopolitical and economic concerns about global competition in technology.

What’s Next for US AI?

DeepSeek’s breakthrough places renewed pressure on American companies to focus on cost-efficient innovation without compromising quality. Meanwhile, policymakers may need to strike a delicate balance between fostering innovation domestically and safeguarding national security interests.

The rise of DeepSeek underscores the increasingly competitive and interconnected nature of the AI industry. For the US, it serves as both a challenge and an opportunity to adapt and maintain its leadership in the field.

Collaboration and Innovation: How Chinese AI Developers Are Redefining the Industry

Faced with restrictions on imported advanced chips, Chinese AI developers have adopted a collaborative approach, sharing their work with one another and experimenting with innovative methods to advance the technology. This strategy has led to a remarkable breakthrough: the development of AI models that require significantly less computing power than their predecessors.

Rethinking AI Development

By pooling resources and embracing creative solutions, Chinese AI researchers have managed to produce models that are not only efficient but also cost-effective. This shift is poised to disrupt the industry by demonstrating that high-quality AI can be developed without the traditionally massive computational demands and multi-billion-dollar budgets.

Implications for the Global AI Landscape

The implications of this shift are profound. With AI models now costing far less than previously thought possible, the barriers to entry for companies and researchers worldwide may be significantly lowered. This could democratize access to advanced AI tools, fostering innovation on a global scale.

However, this also poses a direct challenge to US tech firms, which have traditionally relied on access to the most advanced chips and significant financial investment to maintain their competitive edge. The emergence of cost-efficient models from China may force a reevaluation of these strategies, prompting a shift toward leaner, more collaborative development methods.

A Potential Industry Shake-Up

The ability to achieve high-performance AI with reduced computational requirements could fundamentally alter the structure of the AI industry. For established players, it raises questions about the sustainability of their current investment-heavy models. For newcomers, it opens doors to compete on a more level playing field.

The Road Ahead

As the industry adapts to these new dynamics, both opportunities and challenges lie ahead. US tech firms may need to embrace greater collaboration and rethink their approach to AI development, while governments worldwide weigh the strategic implications of this changing landscape.

China’s success in developing low-cost, efficient AI models underscores the power of innovation and collaboration, demonstrating that the future of AI may belong to those who can do more with less.

Who founded DeepSeek?

Founder and Background

The company, founded in 2023 by Liang Wenfeng, is based in Hangzhou, a dynamic city in southeastern China. Mr. Liang, a 40-year-old graduate in Information and Electronic Engineering, is not only the brains behind this venture but also the founder of the hedge fund that financed DeepSeek, a pioneering AI model. His dual expertise in engineering and finance has positioned him as a leading innovator in the AI industry.

Key Appearances and Influence

Liang Wenfeng has been an active voice in the industry. He was recently spotted at a high-level meeting between technology experts and Chinese Premier Li Qiang, underlining his growing influence in the sector. His presence at such significant events reflects the importance of his contributions to China’s technological advancements.

Reflections on the AI Model

In a candid July 2024 interview with The China Academy, Liang shared insights into the unexpected reception of the previous version of his AI model. According to him, one of the most surprising aspects was the industry’s response to the pricing strategy.

“We didn’t expect pricing to be such a sensitive issue,” Liang remarked. “We were simply following our own pace, calculating costs, and setting prices accordingly.”

His statement highlights the challenges of balancing innovation with market expectations, especially in a rapidly evolving field like artificial intelligence.

Vision for the Future

The company’s trajectory suggests a strong commitment to shaping the future of AI while addressing market demands. With a forward-thinking leader like Liang Wenfeng at the helm, the company is poised to play a crucial role in advancing AI technology on a global scale.

Market Impact of DeepSeek-R1 and AI Trends

The launch of DeepSeek-R1, an advanced AI model from Liang Wenfeng’s company, has already sent ripples across global markets. Following a significant market shock in the US on Monday, shares in prominent Japanese AI-related firms, including Advantest, SoftBank, and Tokyo Electron, experienced sharp declines on Tuesday. This downturn contributed to a 1.4% drop in Japan’s benchmark Nikkei 225 index.

Meanwhile, other Asian markets, including Mainland China, remained largely unaffected due to closures for the Lunar New Year holiday. China’s financial markets are scheduled to reopen on 5 February, providing a temporary buffer against global market volatility.

DeepSeek-R1: A Game-Changer?

Launched earlier this month, DeepSeek-R1 has garnered significant attention for its claimed “performance on par with” OpenAI’s latest models. It has demonstrated robust capabilities in areas such as mathematics, coding, and natural language reasoning, making it a competitive entrant in the global AI race.

The technology has received endorsements from leading figures, including OpenAI CEO Sam Altman, who praised the model as “an impressive model, particularly around what they’re able to deliver for the price.” However, Altman also noted OpenAI’s confidence in delivering superior models in the future, signaling the ongoing competition in the AI space.

Looking Ahead

DeepSeek’s entry into the market has added a new dimension to the AI industry’s competitive landscape. While its pricing strategy and high performance offer a compelling value proposition, the long-term impact on global AI development and market dynamics remains to be seen.

As markets in Asia reopen and investors digest the implications of this new technology, companies like OpenAI, DeepSeek, and others will continue to shape the narrative of artificial intelligence in the coming years.

DeepSeek’s Unique Edge: Efficiency Over Hardware

DeepSeek has been praised for its ability to rival US-developed AI models despite limited access to cutting-edge hardware. This accomplishment highlights the company’s focus on software ingenuity and data efficiency as crucial factors in overcoming hardware constraints.

Marina Zhang, an associate professor at the University of Technology Sydney specializing in China’s high-tech industries, commented:
“DeepSeek’s ability to rival US models despite limited access to advanced hardware demonstrates that software ingenuity and data efficiency can compensate for hardware constraints.”

Industry Implications and Market Expansion

The affordability of DeepSeek’s technology has also sparked optimism about broader AI adoption. Ion Stoica, co-founder and executive chair of AI software company Databricks:
“The lower cost of DeepSeek could spur more companies to adopt AI in their business. If that happens, this reduction in cost can accelerate the progress of AI. So overall, the market will expand faster, and the value of the market will grow faster.”

By requiring only 2,000 specialized chips for training—compared to an estimated 16,000 chips for leading models—DeepSeek offers a cost-effective alternative for businesses seeking to integrate AI capabilities.

Skepticism and Challenges

Despite the accolades, some remain skeptical about the company’s claims. Tech mogul Elon Musk has publicly cast doubt on DeepSeek’s assertions, adding a layer of controversy to the conversation. Critics argue that achieving performance parity with industry leaders like OpenAI while reducing hardware requirements so drastically may be too good to be true.

Future Outlook

DeepSeek’s innovative approach has already begun reshaping the conversation around AI development, emphasizing cost and efficiency over brute-force hardware. While its claims and capabilities continue to face scrutiny, the potential for a more accessible AI market could have profound effects on global adoption and innovation. However, only time—and performance in real-world applications—will determine whether DeepSeek can sustain its momentum and address doubts raised by industry leaders.

Elon Musk Weighs In on DeepSeek’s Hardware Claims

Amid ongoing debates surrounding DeepSeek’s impressive performance and resource efficiency, Elon Musk added fuel to the fire by responding to allegations that the Chinese AI company may not be as hardware-efficient as it claims.

A post circulated online suggested that DeepSeek actually possesses around 50,000 Nvidia chips, despite its claims of training its AI models on just 2,000 specialized chips. These Nvidia chips, often used for advanced AI processing, are now subject to export bans to China. Musk’s terse response to this claim was simply: “Obviously.”

Raising Questions About Transparency

Musk’s response hints at skepticism about DeepSeek’s transparency regarding its infrastructure. If true, the reliance on 50,000 Nvidia chips would contradict the company’s narrative of achieving competitive performance with limited hardware, potentially undermining its positioning as a cost-efficient alternative to US AI models.

Implications for DeepSeek and Global AI Competition

If DeepSeek is indeed leveraging such a large number of high-performance chips, it would highlight the strategic importance of hardware resources in maintaining competitiveness in the AI race. However, with Nvidia chips banned from export to China, this could present significant hurdles for DeepSeek and other Chinese AI companies in the near future.

While DeepSeek’s achievements have been widely lauded, Musk’s remark underscores the need for greater transparency and scrutiny as competition in the global AI market intensifies. For now, the extent to which hardware constraints or access may impact the company’s trajectory remains uncertain.

Courtesy: Reuters

References

• ^ Kranish & Fisher 2017, pp. 30, 37.
• ^ Kranish & Fisher 2017, p. v.
• ^ Horowitz, Jason (September 22, 2015). “Donald Trump’s Old Queens Neighborhood Contrasts With the Diverse Area Around It”. The New York Times. Retrieved November 7, 2018.
• ^ Jump up to:^a b Buettner & Craig 2024, pp. 30–31.
• ^ Kranish & Fisher 2017, pp. 33, 38, 45.
• ^ Kranish & Fisher 2017, pp. 45–48.
• ^ “Two Hundred and Twelfth Commencement for the Conferring of Degrees” (PDF). University of Pennsylvania. May 20, 1968. pp. 19–21. Retrieved March 31, 2023.
• ^ Mahler, Jonathan; Eder, Steve (August 27, 2016). “‘No Vacancies’ for Blacks: How Donald Trump Got His Start, and Was First Accused of Bias”. The New York Times. Retrieved January 13, 2018.
• ^ Jump up to:^a b Rich, Frank (April 30, 2018). “The Original Donald Trump”. New York. Retrieved May 8, 2018.
• ^ Blair 2015, p. 250.
• ^ Mahler, Jonathan; Flegenheimer, Matt (June 20, 2016). “What Donald Trump Learned From Joseph McCarthy’s Right-Hand Man”. The New York Times. Retrieved May 26, 2020.
• ^ Jump up to:^a b 1634–1699: McCusker, J. J. (1997). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States: Addenda et Corrigenda (PDF). American Antiquarian Society. 1700–1799: McCusker, J. J. (1992). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States (PDF). American Antiquarian Society. 1800–present: Federal Reserve Bank of Minneapolis. “Consumer Price Index (estimate) 1800–”. Retrieved February 29, 2024.
• ^ Kranish, Michael; O’Harrow, Robert Jr. (January 23, 2016). “Inside the government’s racial bias case against Donald Trump’s company, and how he fought it”. The Washington Post. Retrieved January 7, 2021.
• ^ Johnston 2016, pp. 45–46.
• ^ Brenner, Marie (June 28, 2017). “How Donald Trump and Roy Cohn’s Ruthless Symbiosis Changed America”. Vanity Fair. Retrieved May 26, 2020.
• ^ Qiu, Linda (June 21, 2016). “Yep, Donald Trump’s companies have declared bankruptcy…more than four times”. PolitiFact. Retrieved May 25, 2023.
• ^ Jump up to:^a b Barstow, David; Craig, Susanne; Buettner, Russ (October 2, 2018). “Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father”. The New York Times. Retrieved October 2, 2018.
• ^ Handy, Bruce (April 1, 2019). “Trump Once Proposed Building a Castle on Madison Avenue”. The Atlantic. Retrieved July 28, 2024.
• ^ Nevius, James (April 3, 2019). “The winding history of Donald Trump’s first major Manhattan real estate project”. Curbed.
• ^ Kessler, Glenn (March 3, 2016). “Trump’s false claim he built his empire with a ‘small loan’ from his father”. The Washington Post. Retrieved September 29, 2021.
• ^ Kranish & Fisher 2017, p. 84.
• ^ Geist, William E. (April 8, 1984). “The Expanding Empire of Donald Trump”. The New York Times Magazine. Retrieved September 29, 2021.
• ^ Jump up to:^a b Haberman, Maggie (October 31, 2019). “Trump, Lifelong New Yorker, Declares Himself a Resident of Florida”. The New York Times. Retrieved January 24, 2020.
• ^ “Trump Revises Plaza Loan”. The New York Times. November 4, 1992. Retrieved May 23, 2023.
• ^ “Trump’s Plaza Hotel Bankruptcy Plan Approved”. The New York Times. Reuters. December 12, 1992. Retrieved May 24, 2023.
• ^ Jump up to:^a b Segal, David (January 16, 2016). “What Donald Trump’s Plaza Deal Reveals About His White House Bid”. The New York Times. Retrieved May 3, 2022.
• ^ Stout, David; Gilpin, Kenneth N. (April 12, 1995). “Trump Is Selling Plaza Hotel To Saudi and Asian Investors”. The New York Times. Retrieved July 18, 2019.
• ^ Kranish & Fisher 2017, p. 298.
• ^ Bagli, Charles V. (June 1, 2005). “Trump Group Selling West Side Parcel for $1.8 billion”. The New York Times. Retrieved May 17, 2016.
• ^ Kiel, Paul; Buettner, Russ (May 11, 2024). “IRS Audit of Trump Could Cost Former President More Than $100 Million”. ProPublica. Retrieved August 26, 2024.
• ^ Jump up to:^a b c d McQuade, Dan (August 16, 2015). “The Truth About the Rise and Fall of Donald Trump’s Atlantic City Empire”. Philadelphia. Retrieved March 21, 2016.
• ^ Kranish & Fisher 2017, p. 128.
• ^ Saxon, Wolfgang (April 28, 1986). “Trump Buys Hilton’s Hotel in Atlantic City”. The New York Times. Retrieved May 25, 2023.
• ^ “Trump’s Castle and Plaza file for bankruptcy”. United Press International. March 9, 1992. Retrieved May 25, 2023.
• ^ “Company News; Taj Mahal is out of Bankruptcy”. The New York Times. October 5, 1991. Retrieved May 22, 2008.
• ^ O’Connor, Claire (May 29, 2011). “Fourth Time’s A Charm: How Donald Trump Made Bankruptcy Work For Him”. Forbes. Retrieved January 27, 2022.
• ^ Norris, Floyd (June 7, 1995). “Trump Plaza casino stock trades today on Big Board”. The New York Times. Retrieved December 14, 2014.
• ^ Tully, Shawn (March 10, 2016). “How Donald Trump Made Millions Off His Biggest Business Failure”. Fortune. Retrieved May 6, 2018.
• ^ Peterson-Withorn, Chase (April 23, 2018). “Donald Trump Has Gained More Than $100 Million On Mar-a-Lago”. Forbes. Retrieved July 4, 2018.
• ^ Dangremond, Sam; Kim, Leena (December 22, 2017). “A History of Mar-a-Lago, Donald Trump’s American Castle”. Town & Country. Retrieved July 3, 2018.
• ^ Garcia, Ahiza (December 29, 2016). “Trump’s 17 golf courses teed up: Everything you need to know”. CNN Money. Retrieved January 23, 2025.
• ^ “Take a look at the golf courses owned by Donald Trump”. Golfweek. July 24, 2020. Retrieved July 7, 2021.
• ^ Jump up to:^a b Anthony, Zane; Sanders, Kathryn; Fahrenthold, David A. (April 13, 2018). “Whatever happened to Trump neckties? They’re over. So is most of Trump’s merchandising empire”. The Washington Post. Retrieved September 29, 2021.
• ^ Williams, Aaron; Narayanswamy, Anu (January 25, 2017). “How Trump has made millions by selling his name”. The Washington Post. Retrieved December 12, 2017.
• ^ Paulson, Michael (March 6, 2016). “For a Young Donald J. Trump, Broadway Held Sway”. The New York Times. Retrieved March 7, 2016.
• ^ Markazi, Arash (July 14, 2015). “5 things to know about Donald Trump’s foray into doomed USFL”. ESPN. Retrieved September 30, 2021.
• ^ O’Donnell & Rutherford 1991, p. 137–143.
• ^ Hogan, Kevin (April 10, 2016). “The Strange Tale of Donald Trump’s 1989 Biking Extravaganza”. Politico Magazine. Retrieved April 12, 2016.
• ^ Jump up to:^a b Buettner, Russ; Craig, Susanne (May 7, 2019). “Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses”. The New York Times. Retrieved May 8, 2019.
• ^ Mattingly, Phil; Jorgensen, Sarah (August 23, 2016). “The Gordon Gekko era: Donald Trump’s lucrative and controversial time as an activist investor”. CNN. Retrieved September 14, 2022.
• ^ Peterson, Barbara (April 13, 2017). “The Crash of Trump Air”. The Daily Beast. Retrieved May 17, 2023.
• ^ “10 Donald Trump Business Failures”. Time. October 11, 2016. Retrieved May 17, 2023.
• ^ Haberman 2022, pp. 129–130.
• ^ Rutenberg, Jim (June 22, 2002). “Three Beauty Pageants Leaving CBS for NBC”. The New York Times. Retrieved August 14, 2016.
• ^ de Moraes, Lisa (June 22, 2002). “There She Goes: Pageants Move to NBC”. The Washington Post. Retrieved August 14, 2016.
• ^ Zara, Christopher (October 26, 2016). “Why the heck does Donald Trump have a Walk of Fame star, anyway? It’s not the reason you think”. Fast Company. Retrieved June 16, 2018.
• ^ Puente, Maria (June 29, 2015). “NBC to Donald Trump: You’re fired”. USA Today. Retrieved July 28, 2015.
• ^ D’Antonio 2015, pp. 281–282.
• ^ D’Antonio 2015, pp. 282–283.
• ^ Eder, Steve (November 18, 2016). “Donald Trump Agrees to Pay $25 Million in Trump University Settlement”. The New York Times. Retrieved November 18, 2016.
• ^ Tigas, Mike; Wei, Sisi (May 9, 2013). “Nonprofit Explorer”. ProPublica. Retrieved September 9, 2016.
• ^ Jump up to:^a b Fahrenthold, David A. (September 10, 2016). “How Donald Trump retooled his charity to spend other people’s money”. The Washington Post. Retrieved March 19, 2024.
• ^ Pallotta, Frank (August 18, 2022). “Investigation into Vince McMahon’s hush money payments reportedly turns up Trump charity donations”. CNN. Retrieved March 19, 2024.
• ^ Solnik, Claude (September 15, 2016). “Taking a peek at Trump’s (foundation) tax returns”. Long Island Business News. Retrieved September 30, 2021.
• ^ Cillizza, Chris; Fahrenthold, David A. (September 15, 2016). “Meet the reporter who’s giving Donald Trump fits”. The Washington Post. Retrieved June 26, 2021.
• ^ Fahrenthold, David A. (October 3, 2016). “Trump Foundation ordered to stop fundraising by N.Y. attorney general’s office”. The Washington Post. Retrieved May 17, 2023.
• ^ Jacobs, Ben (December 24, 2016). “Donald Trump to dissolve his charitable foundation after mounting complaints”. The Guardian. Retrieved December 25, 2016.
• ^ Thomsen, Jacqueline (June 14, 2018). “Five things to know about the lawsuit against the Trump Foundation”. The Hill. Retrieved June 15, 2018.
• ^ Goldmacher, Shane (December 18, 2018). “Trump Foundation Will Dissolve, Accused of ‘Shocking Pattern of Illegality'”. The New York Times. Retrieved May 9, 2019.
• ^ Katersky, Aaron (November 7, 2019). “President Donald Trump ordered to pay $2M to collection of nonprofits as part of civil lawsuit”. ABC News. Retrieved November 7, 2019.
• ^ “Donald Trump: Three decades, 4,095 lawsuits”. USA Today. Retrieved April 17, 2018.
• ^ Jump up to:^a b Winter, Tom (June 24, 2016). “Trump Bankruptcy Math Doesn’t Add Up”. NBC News. Retrieved February 26, 2020.
• ^ Flitter, Emily (July 17, 2016). “Art of the spin: Trump bankers question his portrayal of financial comeback”. Reuters. Retrieved October 14, 2018.
• ^ Smith, Allan (December 8, 2017). “Trump’s long and winding history with Deutsche Bank could now be at the center of Robert Mueller’s investigation”. Business Insider. Retrieved October 14, 2018.
• ^ Riley, Charles; Egan, Matt (January 12, 2021). “Deutsche Bank won’t do any more business with Trump”. CNN. Retrieved September 14, 2022.
• ^ Stump, Scott (October 26, 2015). “Donald Trump: My dad gave me ‘a small loan’ of $1 million to get started”. CNBC. Retrieved November 13, 2016.
• ^ Barstow, David; Craig, Susanne; Buettner, Russ (October 2, 2018). “11 Takeaways From The Times’s Investigation into Trump’s Wealth”. The New York Times. Retrieved October 3, 2018.
• ^ Stracqualursi, Veronica (April 20, 2018). “Ex-Forbes reporter says Trump posed as executive, lied to him to crack Forbes 400 list”. CNN. Retrieved December 25, 2024.
• ^ Boyer, Dave (October 3, 2016). “Donald Trump revealed $900 million business loss in ’97 book”. The Washington Times. Retrieved December 18, 2024.
• ^ O’Brien 2005, p. 150–151.
• ^ Johnston 2021, p. 20.
• ^ LaFranco, Rob; Chung, Grace; Peterson-Withorn, Chase (2024). “Forbes World’s Billionaires List – The Richest in 2024”. Forbes. Retrieved January 20, 2025. – Enter “trump” in the search box.
• ^ Buncombe, Andrew (July 4, 2018). “Trump boasted about writing many books – his ghostwriter says otherwise”. The Independent. Retrieved October 11, 2020.
• ^ Mayer, Jane (July 18, 2016). “Donald Trump’s Ghostwriter Tells All”. The New Yorker. Retrieved June 19, 2017.
• ^ LaFrance, Adrienne (December 21, 2015). “Three Decades of Donald Trump Film and TV Cameos”. The Atlantic.
• ^ Kranish & Fisher 2017, p. 166.
• ^ Massie, Christopher; Kaczynski, Andrew (March 16, 2016). “There Are Hours Of Audio Of Donald Trump’s Nationally Syndicated Radio Show In The 2000s”. BuzzFeed. Retrieved December 6, 2024.
• ^ Grossmann, Matt; Hopkins, David A. (September 9, 2016). “How the conservative media is taking over the Republican Party”. The Washington Post. Retrieved October 19, 2018.
• ^ Rao, Sonia (February 4, 2021). “Facing expulsion, Trump resigns from the Screen Actors Guild: ‘You have done nothing for me'”. The Washington Post. Retrieved February 5, 2021.
• ^ Harmata, Claudia (February 7, 2021). “Donald Trump Banned from Future Re-Admission to SAG-AFTRA: It’s ‘More Than a Symbolic Step'”. People. Retrieved February 8, 2021.
• ^ Buettner & Craig 2024, p. 7, “Mark Burnett, the television producer who made Trump a star, did not just hand him a fortune.”.
• ^ Grynbaum, Michael M.; Parker, Ashley (July 16, 2016). “Donald Trump the Political Showman, Born on ‘The Apprentice'”. The New York Times. Retrieved July 8, 2018.
• ^ Nussbaum, Emily (July 24, 2017). “The TV That Created Donald Trump”. The New Yorker. Retrieved October 18, 2023.
• ^ Poniewozik, James (September 28, 2020). “Donald Trump Was the Real Winner of ‘The Apprentice'”. The New York Times. Retrieved October 18, 2023.
• ^ Jump up to:^a b Gillin, Joshua (August 24, 2015). “Bush says Trump was a Democrat longer than a Republican ‘in the last decade'”. PolitiFact. Retrieved March 18, 2017.
• ^ “Trump Officially Joins Reform Party”. CNN. October 25, 1999. Retrieved December 26, 2020.
• ^ Oreskes, Michael (September 2, 1987). “Trump Gives a Vague Hint of Candidacy”. The New York Times. Retrieved February 17, 2016.
• ^ Butterfield, Fox (November 18, 1987). “Trump Urged To Head Gala Of Democrats”. The New York Times. Retrieved October 1, 2021.
• ^ Meacham 2016, p. 326.
• ^ Gass, Nick (November 6, 2015). “George W. Bush ‘surprised’ by dad’s criticism, author says”. Politico. Retrieved December 20, 2024.
• ^ Winger, Richard (December 25, 2011). “Donald Trump Ran For President in 2000 in Several Reform Party Presidential Primaries”. Ballot Access News. Retrieved October 1, 2021.
• ^ Clift, Eleanor (July 18, 2016). “The Last Time Trump Wrecked a Party”. The Daily Beast. Retrieved October 14, 2021.
• ^ Nagourney, Adam (February 14, 2000). “Reform Bid Said to Be a No-Go for Trump”. The New York Times. Retrieved December 26, 2020.
• ^ Jump up to:^a b MacAskill, Ewen (May 16, 2011). “Donald Trump bows out of 2012 US presidential election race”. The Guardian. Retrieved February 28, 2020.
• ^ Bobic, Igor; Stein, Sam (February 22, 2017). “How CPAC Helped Launch Donald Trump’s Political Career”. HuffPost. Retrieved February 28, 2020.
• ^ Lerner, Adam B. (June 16, 2015). “The 10 best lines from Donald Trump’s announcement speech”. Politico. Retrieved June 7, 2018.
• ^ Graham, David A. (May 13, 2016). “The Lie of Trump’s ‘Self-Funding’ Campaign”. The Atlantic. Retrieved June 7, 2018.
• ^ Reeve, Elspeth (October 27, 2015). “How Donald Trump Evolved From a Joke to an Almost Serious Candidate”. The New Republic. Retrieved July 23, 2018.
• ^ Bump, Philip (March 23, 2016). “Why Donald Trump is poised to win the nomination and lose the general election, in one poll”. The Washington Post. Retrieved October 1, 2021.
• ^ Nussbaum, Matthew (May 3, 2016). “RNC Chairman: Trump is our nominee”. Politico. Retrieved May 4, 2016.
• ^ McCammon, Sarah (August 1