Former Speaker Newt Gingrich Newton (Newt) Leroy GingrichMORE (R-Ga.) in a new book writes that President Trump Donald John TrumpSteele Dossier sub-source was subject of FBI counterintelligence probe Pelosi slams Trump executive order on pre-existing conditions: It 'isn't worth the paper it's signed on' Trump 'no longer angry' at Romney because of Supreme Court stance MORE once compared the cost of running for the White House to buying a yacht, but said it would be "a lot more fun."

In an excerpt from “Understanding Trump” published by ABC News, Gingrich, a Trump confidant, describes a January 2015 exchange in which Trump asked what “the bottom line” would be if he were to launch a bid. Gingrich recalls telling Trump that he could competitively enter the race for about $70 million to 80 million, according to the excerpt.

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“His response was priceless. After a moment of thought, he said, ‘$70 to 80 million: that would be a yacht. This would be a lot more fun than a yacht!’" Gingrich writes.

"That’s when Callista and I learned that a Trump candidacy was likely—and a Trump presidency was possible," Gingrich added, referring to his wife.

Trump would enter the presidential race several months later, announcing his bid in June from Trump Tower in New York City.

Gingrich also recalled a conversation he had with Trump after his primary victory in the South Carolina, where Trump said he spent less than Gingrich’s suggested amount.

“'By the way, I know you said I needed to spend eighty million but I’ve only spent thirty million. I feel kind of bad,’” Gingrich quotes Trump as saying.