1. A decade in the red.

The New York Times has obtained Donald Trump’s tax figures for the years 1985 to 1994, which show losses of over $1 billion from his casinos, hotels and retail spaces. Above, Mr. Trump in 1986.

The losses enabled him to avoid paying income taxes for eight of those years. But the red ink did not cost him his standard of living, because most of the money was borrowed, and because he was buffered by his father’s wealth.