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.
Read more ....
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.
0 Response to "Is President Trump Facing Bankruptcy?"
Post a Comment