Trump Has Real Estate Debt That Surpasses 1 Billion
The Claim
U.S. President Donald Trump has real estate debt of more than $1 billion due over 4 years.
News posted on
Emerging story
In late October 2020, users on social media shared that Trump has more than $1.1 billion in real estate debt and that this debt was to be paid over a 4-year period. The source of this information was the Financial Times.
This information took many forms across social media, as many began discussion on this topic.
Misbar’s Analysis
Misbar finds this information to be true.
According to Forbes, Trump has a net worth of $2.5, a value which recently dropped from a higher rate by more than $600 million. He owns a variety of real estate properties, many of which is spread across the nation in the form of high-rise buildings and luxury golf courses. The locations of these properties include cities like New York City, Washington D.C., and San Francisco.
In their analysis, Financial Times has categorized his debt into 5 major categories:
- Vornado Realty Trust ($447m)
- Bond market ($257m)
- Deutsche Bank ($340m)
- Small Banks ($25m)
- Chicago Unit Acquisition Trust ($50m)
Of these categories, the Vornado Realty Trust makes up the largest portion of debt at a total of $447 million. This category is composed of high value properties in both San Francisco and New York City and is anticipated to be due in only two years.
Many have expressed worry that due to COVID-19 and the financial impacts that it has had on many revenues streams for the President and the world alike, Trump may have difficulty paying back this debt in the coming years. Prior to this election, he is believed to have made a lot of income from his presence on TV shows and online broadcasting. His ratings during this shows were high with an average of $21 million in 2004 for The Apprentice. This has been significantly reduced since he became President.
