Forbes does a extensive look at Trump’s holdings and financial’s and estimates that the former New York Real Estate guy has assets of about $3.66 billion……
They estimate he owes double the reported $421 billion widely reported….
I will add that Trump is probably on the hook for almost another $75 million to the IRS and that will cost him tax money to New York State after he leaves office….Some of his claims on his taxes maybe ultimately denied which could end up costing him more in back taxes also…
Some of his assets are probably NOT worth their book value….
Ask anybody that has to close down a business….
You don’t get a $1 for $1….
But as the piece points out?
Donald J. Trump IS rich….
And YES people have lent him money that Forbes was able to track….
Most of us speculate that he has other revenue sources that are invisible…..
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.
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.
Some people also like to suggest that Deutsche Bank is the only institution willing to lend to Trump. That’s not true. The president’s creditors include at least six other institutions, two of which began or reworked deals while the president was in office.
One reason for all the confusion: Trump’s loans are not fully transparent. It’s still unclear to whom he owes an estimated $162 million against his skyscraper in San Francisco, for example. The loan against 1290 Avenue of the Americas is also something of a mystery. And it’s difficult to pin down the amount the president owes on a loan tied to his Bedford, New York mansion. When asked about all of this, the Trump Organization did not respond….
More on the this HERE.…