Politics - News Analysis
Trump is in FAR MORE Debt Than Previously Thought, Now Estimated at Over $1 Billion
The good news is that the president of the United States is not in $421 million in debt to anyone. The bad news is that, according to Forbes magazine, which specializes in keeping track of wealth, Trump is over one billion in debt. That doesn’t mean he’s broke, at all, actually. He has money, he even has enough assets to probably cover that debt. It is just, wouldn’t it be way more awesome to cover that debt without having to sell off those assets?
According to Forbes:
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.
Like we’ve said before, Jeff Bezos likely has one billion in debt on his credit card. The difference is that Bezos will just write a check for it at the end of the month. Trump has a bit of a different problem.
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.
It is important to note, as Trump did Thursday night, that he also has significant assets. Forbes values them at $3.66 billion, enough to make his net worth an estimated $2.5 billion. He is not broke, despite what many critics claim.
Point of order, if we can be so permitted. Forbes is taking Trump’s ownership of those assets estimated at $2.5 billion as “really belonging to Trump,” and – though we have no proof at all of anything – we sometimes get the feeling that not everything with the “Trump” name on top actually belongs to Trump, ya know?
So the picture is a little different if the debt is DEFINITELY his, but those assets … maybe not so “definite,” if one wanted to get all technical about it, which a court and congress very very much would.
If Trump’s taxes showed him worth a couple billion, few billion, no matter the debt, he would have published them in the New York Times in 2015. Yet he is STILL hiding them … we think there’s a reason. We think those assets may be “owned by him” in name only, and someone, somewhere, might be using him to clean that money. It is possible.
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