Forbes says President Donald Trump is a billionaire, but he has more than a billion dollars in debt.
The New York Times Sunday evening dropped a bombshell investigation into Trump's taxes, after having obtained twenty years of his returns. The Times reported Trump is $421 million in debt to an unknown entity.
(One former top Mueller team attorney just strongly suggested that entity is Russia.)
Now, Forbes senior editor Dan Alexander, whose beat is covering Trump, reveals the President of the United States has $1.13 billion in debt.
That's billion with a "b."
Overall, he puts Trump's net worth at $2.5 billion, saying his businesses are "worth an estimated $3.66 billion before debt."
Alexander clearly knows what he's talking about, and clearly knows all of Trump's real estate assets.
The list of debt on his assets seems staggering.
"A big chunk of Trump’s liabilities is concentrated in 1290 Avenue of the Americas in New York City and 555 California Street in San Francisco, the two skyscrapers he owns in conjunction with Vornado," Alexander reports, adding that Trump's share of the debt for those two buildings is $448 million.
"The president owes hundreds of millions more on other Manhattan buildings, as documented in SEC filings and property records. At Trump Tower, he has a $100 million loan. At 40 Wall Street, he owes $139 million. At Trump Plaza, $13 million. At Trump International Hotel & Tower, $6.5 million. At Trump Park Avenue, an estimated $10 million. That’s another $268 million, bringing the tally to $716 million."
That's just an excerpt from the tally.