10/16/20
No aspect of Donald Trump’s business has been the subject of more speculation than his debt load. Lots of people believe the president owes $400 million, especially after Trump seemed to agree with that figure on national television Thursday night. In reality, however, he owes more than $1 billion. The loans are spread out over more than a dozen different assets—hotels, buildings, mansions and golf courses. Most are listed on the financial disclosure report Trump files annually with the federal government. Two, which add up to an estimated $447 million, are not. Some people also like to suggest that Deutsche Bank is the only institution willing to lend to Trump. That’s not true. The president’s creditors include at least six other institutions, two of which began or reworked deals while the president was in office. One reason for all the confusion: Trump’s loans are not fully transparent. It’s still unclear to whom he owes an estimated $162 million against his skyscraper in San Francisco, for example. The loan against 1290 Avenue of the Americas is also something of a mystery. And it’s difficult to pin down the amount the president owes on a loan tied to his Bedford, New York, mansion. When asked about all of this, the Trump Organization did not respond.
Here’s what we know—and don’t know—about the president’s debt.
www.forbes.com
