Donald Trump owes real estate debts of $1.1bn with $900m due in next four years, report says
President’s assets give him reported net worth of $2.5bn
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Your support makes all the difference.Donald Trump has debts worth $1.1 billion and will owe $900 million of it during his second term as president if he wins the election, according to a report.
The huge sums of money are linked to his commercial real estate properties and golf courses, says the Financial Times.
Over the next two years the president reportedly has a loan due of $285 for his Avenue of the Americas tower in New York, and $162 million due on his California Street building in San Francisco.
The size of Mr Trump’s debts is almost twice the amount he has suggested during his campaign for the White House, according to Forbes.
With his assets estimated at $3.66 billion that would put the president’s net wealth at around $2.5 billion, says Forbes.
Mr Trump also has $257 million in loans taken out against Trump properties, which were packaged up and sold to a commerical mortgage-backed securities trust.
Mr Trump also owes $340 million to his biggest bank lender, Deutsche Bank.
According to the New York Times, which released information about the president’s taxes last month, the National Doral in Miami and the International Hotel in Washington are both losing significant amounts of money.
The president also has $25 million in loans with four smaller banks and an asset manager.
The loans are mortgages on Trump family properties in a New York suburb and Palm Beach, Florida.
They are also loans on Trump golf courses in New Jersey and Washington DC, and a residential tower in New York City.
Mr Trump also has a $50 million debt secured against the Trump International Tower and Hotel in Chicago.
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