President Donald Trump once fell for a social experiment that made him cash a 13-cent check. The experiment reportedly aimed to expose the ‘cheapest’ billionaire in 1990. And it was only Trump and another individual who fell for the scam. The matter continues to be discussed online.
According to reports from the Daily Express U.S., Spy Magazine’s social experiment in 1990 aimed to reveal the billionaire who would cash the cheapest possible check. They created a fake organization called ‘The National Refund Clearinghouse.’
This was carried out through a reportedly fake organization at three levels. About 58 billionaires, including Trump, were part of this faux experiment.
In 1990, Spy Magazine sent out checks with increasingly smaller amounts disguised as refunds to some of the richest people in New York as a social experiment, eventually sending one for 13 cents. Only two people cashed the 13 cent check: a Saudi arms dealer and Donald J. Trump. pic.twitter.com/UYtxs1o1es
— Daractenus (@Daractenus) March 24, 2026
First, they were sent a check of $1.11, and out of the 58, about 26 of them cashed it. Those who cashed it also included legendary singer Cher and Hollywood’s renowned actor Michael Douglas. And of course, Trump.
After the initial round, 26 ultra-rich people in the U.S. were sent another check with a smaller value. They were each asked to cash in a check worth 64 cents. Now, out of these 26, Trump and 12 others cashed the 64-cent checks.
For the third and final round, they were sent a check worth 13 cents. This time, only Trump and an arms dealer from Saudi Arabia, named Adnan Khashoggi, cashed the check.
During a 2016 interview with NPR, the founders of Spy magazine shared their insights on the experiment. Journalists Kurt Andersen and Greydon Carter were co-founders of the satirical magazine. They each recalled having many back-and-forths with Trump when he was still a businessman.
I was fact checking. True story. https://t.co/EKKP0qRBAc
— Fat Cat 🌐 (@FATCAed) March 24, 2026
Trump had even reportedly threatened the journalists with lawsuits in the past. Regarding the experiment itself, they claimed that Trump cares very much about business victory. And his cashing checks, which would have been insignificant given his billionaire status, was a way to claim “wins” in business.
Trump has not personally confirmed or denied the time he was part of the social experiment. He has not commented on the report by Spy magazine in 1990. Similarly, the Trump administration has not shared a statement about the experiment.
While Trump has not publicly responded, the internet certainly had much to say about it. Many internet pundits responded to Trump allegedly falling for a scam for the wealthy. Many shared their thoughts about it on social media platforms like X and Instagram.
One of the greatest pranks/experiments ever! Loved SPY Magazine so much
— Lisa B. (@NastyLisaB) March 24, 2026
On X, an internet sleuth reshared a story highlighting the results of Trump reportedly falling for the scam. This prompted a series of responses from fellow netizens. Many found the matter hilarious and dropped a flurry of laughing emojis.
One user claimed, “My all-time favorite DJT (Donald J. Trump) story.” Another said, “I’ve lived in NYC through the early 00s, and by far the MOST satisfying journalism in town was Spy Magazine’s continual roasting of Trump.”
— Dante (@VoxDantes) March 24, 2026
A third one asked, wondering, “You think Trump cashes his own checks?” A fourth individual asked, “Why am I not even a little bit shocked?”
Although Trump has neither confirmed nor denied cashing the 13-cent check, he reportedly doesn’t remember this ever happening to him. Currently, he remains focused on his second term.
