Donald Trump's $1.1 billion mountain of debt is wrapped up in office space, hotels and golf courses, with $900 million of it due within the next four years while coronavirus hammers the real estate market
* He has a $1.1 billion mountain of debt, according to the Financial Times, $900 million of it due in next 4 years
* The President has an estimated net worth of $2.5 billion but most of that is made up of real estate
* Trump's TV checks were his major source of cash before he entered the White House in 2016
* Analysis shows how some of his debts are due to be paid within the next two years
* Trump owes as much as $340 million to Deutsche Bank – his biggest single banking backer
* Refusal to publish his tax returns means that his finances remain opaque
Donald Trump's $1.1 billion mountain of debt is wrapped up in skyscrapers and golf courses, with $900 million of it due within the next four years while coronavirus hammers the real estate market, the Financial Times has revealed.
The president has an estimated net worth of $2.5 billion but the economy has plunged off a cliff since the pandemic struck.
He has loans due within the next two years on his Avenue of the Americas tower in New York ($285 million) and his California Street colossus in San Francisco ($162 million), the FT reports.
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WNU Editor: My family's business is real-estate. And while I am no longer involved in the operations of the family business, I an knowledgeable on how all of this works. Looking at President Trump's portfolio I have to give him credit. He owns and/or partially owns some really nice properties. Especially his interests in 1290 Avenue of the Americas in New York City, and 555 California Street in San Francisco. Those two buildings alone are huge money makers, and can easily be used to refinance all of his debt obligations (and at historic low interest rates) if he and his partners decide to go down that road. I am not knowledgeable about the business behind golf courses. But I will not be surprised if the pandemic has hurt the bottom line. The biggest weakness that I see in President Trump's real-estate empire is The International Hotel in Washington, D.C. and Trump International Hotel at Central Park West. Hotels are empty right now, and I suspect that these hotels are bleeding an enormous amount of money right now. As for his other properties. Like Trump Tower. I would rate them as prime real-estate. Should President Trump decide to sell them, he will be laughing to the bank. Bottom line. President Trump owes a lot of money, but his assets dwarfs his obligations.
Is President Trump facing bankruptcy? The editor's analysis is largely correct. No, he is not. In fact, he's probably richer than is generally known. Obviously his choice to run for POTUS and subject him and his family to all of this had to be based on patriotism.
ReplyDeleteassets dwarfs his obligations
ReplyDeleteHow many liberals do not understand this?
How many rotten reporters do, but print garbage anyway?
The FIB is making a big announcement tomorrow, at 11 AM ET about "China-Related National Security Matter". Looks dam coordinated to me.
a) Joe Biden?
b) Hunter Biden hard drive?
c) Trump?
d) Generic Chinese agents are doing something bad?
e) All of the above?
I would not be surprised if Wray is putzing around pulling any lever he can to try to make Trump look bad with statements of Chinese agents doing something. They have been for 25 years and? Wray, Comey, and the rest of the yahoos were not worked up about Diane Feinstein's fine spy nor the Chinese Texas consulate paying $$$ to BLM to go very public about it.
Like I said coordinated with the reporters of this story.
Barr is not doing anything about Wray, because Wray is just putting enough appearance of professionalism to not be called on it just yet.
Both he and the rest of R/E investors are in trouble - hotels are underused right now and commercial may never recover once companies have discovered so many of their employees can work from home.
ReplyDeleteMy guess is he'll refinance the debt again... most big properties always have big loans against them.
11:48
ReplyDeleteMaybe. R/E also took a big hit around 1987 after the big tax law changes that Packwood pushed through.
People are gregarious all things being equal. They want the meet and greet. Corona will be properly placed with Rhino and influenza. At most corona is 3X worse than influenza and that mainly due to the elderly or obese/diabetic. Society will cope. The scaremongers and profiteers could fail by this time next year.
People like Prince Charles and his Davos buddies want a reset. They are using corona to push through their agenda of Europeanizing nation states and a people. If prince Charles is on that side I know it is the wrong side. Charles may have been a good JO, but since then he has been a know nothing jerk and cad.
WE have to get through this in a week or maybe several months. The we will see. It will be a different ball game, if the blue state governors give up.
"If the blue state governors give up." The naturally occurring virus will eventually morph into a version of the common cold. Had "lockdown" left us well enough alone we'd have probably beaten this by now or would be coming out of this by now.
ReplyDeleteit dont matter to him war is comeing soon and a verry big one see
ReplyDelete