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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsForbes Adds It Up: Trump Is $1.1 Billion in Debt
Forbes says President Donald Trump is a billionaire, but hes more than a billion dollars in debt.
The New York Times Sunday evening dropped a bombshell investigation into Trumps 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 is $1.13 billion in debt.
Thats billion with a b.
Read more: https://www.thenewcivilrightsmovement.com/2020/09/forbes-adds-it-up-trump-is-1-1-billion-in-debt/
Xipe Totec
(43,889 posts)MoonRiver
(36,926 posts)TexasTowelie
(112,058 posts)KS Toronado
(17,178 posts)TexasTowelie
(112,058 posts)but every now and then...
VWolf
(3,944 posts)That was "coffee on my keyboard" funny
TexasTowelie
(112,058 posts)I'll have to get back with you at a later time about that keyboard.
MoonRiver
(36,926 posts)marble falls
(57,055 posts)MoonRiver
(36,926 posts)marble falls
(57,055 posts)she's in a pile of world class grifters. She's not the sharpest or largest tool in that shed of grifters. A housewife who takes money from her drunk abusive husband's pocket isn't a thief as much as a survivor.
MoonRiver
(36,926 posts)Of course, she could have just been following orders.
Takket
(21,549 posts)Response to Xipe Totec (Reply #1)
marmar This message was self-deleted by its author.
Grins
(7,203 posts)uriel1972
(4,261 posts)jebus what a loser. Pitu all the damahe he's done on tje way down. All the dead and broken.
rickyhall
(4,889 posts)Cirque du So-What
(25,917 posts)calimary
(81,179 posts)lagomorph777
(30,613 posts)Basically the equivalent of $24 in beads.
Native
(5,939 posts)TexasTowelie
(112,058 posts)If he had to liquidate those assets quickly I would expect that would shave at least a third of their value, particularly in the middle of a pandemic.
vlyons
(10,252 posts)No one's going to a golf resort during a pandemic. And you can't depreciate land. Only buildings can be depreciated.
RazzleCat
(732 posts)Honest, easy to social distance and its outside.
Native
(5,939 posts)Awsi Dooger
(14,565 posts)The course I play is packed all day long
Contrast to recent years when sometimes there were only 3 or 4 cars in the lot. Now upwards of 50 and scrambling to find more space.
Native
(5,939 posts)Mariana
(14,854 posts)Who was it that determined the values of those properties? Also, have they been re-evaluated recently, since Covid-19?
fescuerescue
(4,448 posts)I wish they would release the details line by line.
I hate trying to interpret other people interpretations.
TexasTowelie
(112,058 posts)fescuerescue
(4,448 posts)side of the books looks like.
I'm sure he's in deep, but debt on real estate describes every single commercial building out there.
empedocles
(15,751 posts)empedocles
(15,751 posts)TexasBushwhacker
(20,159 posts)His balance sheet may look okay, but unless he has the cash to pay his debts on time (over $400 Million in the next 4 years) he could be looking at foreclosure and/or bankruptcy. Now that everyone knows just how precarious his financial situation is, who will loan him money? His "brand" is essentially worthless and that was a big part of his net worth in the past.
fescuerescue
(4,448 posts)And he's no stranger to business bankruptcy.
It's tough to say without complete information beyond a few selected highlights. I remember when he was broke in late 80's (or maybe it was the late 90s). It was all over the papers.
This guy seems to make a business of going broke.
Even from jail, he can probably a make a mint (ghost) writing books. His supporters will eat them up.
marble falls
(57,055 posts)wanted to be the casino king of Atlantic City. His teetering to bankruptcy threatened to bring down Citibank(?) with him. The Fed guaranteed a billion dollars more of new debt so he could service interest and invest. You'd think he'd have loved the Clintons forever for that little favor.
Trump is sort of the anti-Warren Buffett. Their wealth/value depends a lot on what they say about themselves. The difference is Warren Buffett is respected for his honesty the way he treats people and Trump not so much.
RazzleCat
(732 posts)We do not know the total of debt he has, nor how it is structured. One more item, most commercial real estate is loosing value due to covid a combination of business closures and individuals unable to pay rent. I will say I believe that commercial real estate specifically office space will continue to go down due to covid. More business will continue to use work from home and need less office space.
Move on to his resorts, most "upscale" properties earn their income from business travel, again I can see less business travel after covid due to businesses learning and implementing more live streaming options.
Yes business will still rent property, and high end business travel will return, but a business is always about making money, so the cost savings of downsizing by using tech will be used. This is where he has his property, so I see it going down in value period, not just because his name is on it, but because all properties that fall in these categories are loosing value.
smirkymonkey
(63,221 posts)ProfessorGAC
(64,955 posts)The D/E of the organization was 1.125 in 2018, per Moody's.
That was before the asset value rationalizations, and the discovery of the Deutsche Bank, & Bank of China debt.
This D/E is 0.45 and that's lower than they claimed themselves in 2016.
bucolic_frolic
(43,115 posts)for debt relief?
Somebody's always trying to make big money to help themselves.
Traildogbob
(8,703 posts)Saudi gave Jared 900 million. Trump got this, he has peeps. Do I need sarcasm emoji?
Le Roi de Pot
(744 posts)wnylib
(21,417 posts)accounting and finance, but, in my own summary of what I've been reading, it appears that he is grossly overextended in what he owes versus what income he has available to pay. His wealth is in assets that would have to be liquidated in order to pay what he owes, thereby reducing his wealth by about half - if he can get buyers for his properties at a price that would help him. But, now that the world knows how desperate his situation is, buyers could take advantage of that to offer him much less than he needs, or than his properties are worth.
His businesses continually lose money that he needs for paying his debts. So he "makes money" for himself by listing his losses on his tax returns.
We do not know for certain yet who he owes the money to. But all indications, including Eric Trump's own words, point to Russia. (So much for America first.) That makes him a huge security risk, along with his spawn, who got security clearances despite being denied because their own finances make them risks. In his WH position, he can use US assets (e.g. arms deals) to bargain with other nations for financial advantages to bail him out. By staying in office, he can avoid criminal charges. Republicans who help him do this are traitors.
So, that's my summary of Trump's situation so far, and more is yet to come.
If I've misinterpreted what I've been reading and accidentally misrepresented the situation, there are more financially knowledgeable folks here at DU who can correct me.
Roland99
(53,342 posts)sarcasmo
(23,968 posts)Tracer
(2,769 posts)She's looking at around $50 million of her own.
Hugin
(33,104 posts)Even if you are a genius.
LisaL
(44,972 posts)Only he is a negative billionaire.
calimary
(81,179 posts)Putin & Deripaska.
Botany
(70,476 posts)One former top Mueller team attorney just strongly suggested that entity is Russia.
TexasTowelie
(112,058 posts)Botany
(70,476 posts)Hugin
(33,104 posts)with a balloon of 250% and your knees cracked at term.
triron
(21,988 posts)meow2u3
(24,761 posts)He might report $1.1B in debt, but I have this sneaky feeling he's hiding stolen assets by dressing them as losses for tax purposes. In other words, he's a tax cheat who hopes we were all born yesterday.
AllaN01Bear
(18,101 posts)brer cat
(24,544 posts)Thanks, TT!
dalton99a
(81,426 posts)OverBurn
(950 posts)jmowreader
(50,546 posts)How do you convince someone to loan you enough money to be $1.1 billion in debt when youre the caliber of businessman Trump is? Please remember, Trump managed to bankrupt three casinos and a vodka company. Those are effectively licenses to print money...so, why would anyone loan Donald Trump anything, knowing hell probably lose it?
Locrian
(4,522 posts)The first stage in the process is placement. The placement stage involves the physical movement of currency or other funds derived from illegal activities to a place or into a form that is less suspicious to law enforcement authorities and more convenient to the criminal.
The proceeds are introduced into traditional or nontraditional financial institutions or into the retail economy. The second stage is layering.The layering stage involves the separation of proceeds from their illegal source by using multiple complex financial transactions (e.g., wire transfers, monetary instruments) to obscure the audit trail and hide the proceeds.
The third stage in the money laundering process is integration. During the integration stage, illegal proceeds are converted into apparently legitimate business earnings through normal financial or commercial operations
jmowreader
(50,546 posts)"Why didn't you Democrats tell us he was a crook?"
Well...we did. Repeatedly. But YOU turned him into the Second Coming of Jesus Christ.
BlueWavePsych
(2,635 posts)ProfessorGAC
(64,955 posts)...if someone has a debt to equity ratio of 0.45, why would they have to go overseas to get new lending?
The average D/E for companies holding over $1 billion in equity is a bit under 1.5.
If he had a ratio at 30% of average, there's no bank in this country that wouldn't provide a loan.
But, there's a reason he had to fish for loans in Germany, China, Russia, and perhaps others. The banks here cut him off.
Banks don't cut off billion plus dollar companies with a D/E of 0.45.
BlueWavePsych
(2,635 posts)ProfessorGAC
(64,955 posts)I'm presuming you didn't either.
leftyladyfrommo
(18,868 posts)with about 100 million in back taxes. He said the problem is that he has no cash on hand so he will have to liquidate assets. He said even if he liquidates a billion he will never be able to get caught up.
Dark n Stormy Knight
(9,760 posts)I wonder if them reporting this will help convince some Rs to dump Drumpf.
TexasTowelie
(112,058 posts)and it is rated as right-center. The link that I used in the OP is for a left-center site.
Cha
(297,029 posts)That's B with a capital B!
TY for this, TexasT