Donald Trump Had 'No Money' During 2004 Bidding War Against Jeffrey Epstein Over Palm Beach Mansion, Michael Wolff Claims

Donald Trump allegedly had "no money" during his 2004 real estate showdown with Jeffrey Epstein, according to journalist Michael Wolff.

In the latest installment of his Epstein Diaries series, published via Substack on April 20, Wolff detailed what he described as a pivotal moment in the relationship between the two men — a bidding war over a sprawling Palm Beach estate that may have sparked their eventual fallout.

Wolff — whose diaries are based on his personal interactions with Epstein in the early 2000s and beyond — claimed that at the time, Trump was still recovering from major financial setbacks in the 1990s and was largely sustained by licensing his name rather than owning properties outright.

"His only real business was renting his phony-baloney name," Epstein allegedly teased of Trump, according to Wolff, who notes the disgraced financier both mocked and marveled at the former businessman's ability to project wealth despite financial struggles.

The conflict centered around Maison de L’Amitié — a massive oceanfront mansion that had entered bankruptcy proceedings.

In his Substack story, Wolff explained how Epstein, who was working closely with retail billionaire Leslie Wexner, believed he had secured the property with a $36 million bid and support from those overseeing the sale.

For Epstein, the lavish estate represented more than just another acquisition, as Wolff explained: "His homes—in Manhattan, Paris, Palm Beach, New Mexico, and the Caribbean — were the stage set of his life, the personification of all he had achieved and how far he had come."

He continued, "For Donald Trump, real estate was no less important, but it was more transactional, and ultimately fungible."

Despite reportedly being one of Epstein's closest pals, Trump also entered the bidding process — setting the stage for a clash between the two men.

"Trump had no money. The 1990s had gutted him, and, without the forgiveness of his lenders, would have finished him. He had lost his properties, and only the rental of his name kept him in place," Wolff continued. "This was the nadir of his career. So low that he’d been talked into fronting a reality TV show where he’d play a successful businessman—a venture that other more successful businessmen had turned down."

"His friend Epstein couldn’t get enough of this, the ignominy of it, and kept telling people Trump was going to be a contestant on Survivor instead — because he barely had survived," Wolff revealed.

The famed author suggested the dispute may have set off a chain of events that ultimately led to a permanent break between Trump and Epstein, with ramifications that would continue to surface in later years.