Al Kipone schreef op 28 september 2020 14:39:
Dan Alexander, twitter:
Story starts with this bombshell, that Trump paid just $750 in taxes in 2016 and another $750 in 2017. Shocking numbers for someone who we estimate is worth $2.5B. (Yes, you can still be really rich and disclose a tiny income or even huge losses. More on his net worth later.)
Then we get to this part about the current state of his business, which highlights the amount of debt that Trump has coming due. We actually already know a lot about his debt -- far more than most people who follow the news might think. Let's pause here and dig into it.
We'll start at Trump's old home, Trump Tower, where he owes $100M. This document shows that it has a $100M loan against it, with a 4.2% interest rate, due 9/6/2022. Trump, as you can see, has not paid down a dime of the principal.
Then we'll go to 40 Wall Street, where he owes $139M, split into several chunks. You can see the interest rate on all are 3.665%, and all of those come due on 7/6/25. Total debt accounted for so far: $239M million.
We'll next look at 1290 Ave. of the Americas, in which Trump owns a 30% interest alongside publicly traded Vornado. VNO discloses that there's $950M of debt against it in doc below. Due in Nov 2022. Trump's 30% share then equals $285M. Total debt accounted for so far: $524M.
Then we'll consider 555 California St., in which Trump also owns a 30% interest alongside Vornado. VNO discloses there's $543M against that building, with a 5.1% interest rate, due Sep 2021. Trump's 30% share is then 0.3 * 543 = $163M. Total debt accounted for so far: $687M.
Now let's look at Doral, Trump's golf resort in Miami. It has 2 mortgages against it, totaling $125M. Both mature in 2023 and have variable interest rates. You can see the first pages of the mortgages, with the amounts circled, here. Total debt accounted for so far: $812M
There's also a loan against the DC hotel. The mortgage, which you can see below, lists it at $170M. The NYT reports that the balance is $160M. Trump may have paid down some principal here. We'll use the NYT figure for our tally. Total debt accounted for so far: $972M.
In New York, Trump owes a combined of $20M against a two smaller properties, Trump Plaza ($13.2M) and Trump International Hotel & Tower ($6.5M). Total debt accounted for so far: $992M
At Trump Park Ave, where Ivanka and Jared used to live (in a condo owned by Donald), there's another loan, which was at $15.3M in 2010, according to the doc below. Trump has been paying that one down. Probably closer to $10M now. Total debt accounted for so far: $1 billion.
In Chicago, Trump lists two loans on his financial disclosure report. One for $25-50M and one for $50M+. These are complex liabilities that I won't go too much into right now, but that's another $75M+ in debt. Total debt accounted for so far: $1.1 billion.
Trump has other small loans against a golf club in DC, one in New Jersey and a couple of mansions. Those add up to about another $35M or so in additional debt.
The total accounted for still rounds to $1.1 billion. A lot of that, as the NYT story says, is coming due soon.twitter.com/DanAlexander21/status/131...