Debt for Trump’s business estimated at $1.3 billion: report
Debt carried by former President Trump’s business has increased by about $200 million since he left office in January, bringing the total amount to $1.3 billion, Forbes reported on Thursday.
The additional debt, however, has improved Trump’s financial positions in some situations by providing more liquidity, according to Forbes.
The news outlet cited how JPMorgan Chase helped with providing a $1.2 billion loan for a California office building in which Trump has a 30 percent minority interest. The refinancing deal gave the building’s owners, including Trump, more liquidity, allowing the former president and Vornado Realty Trust, one of his business partners, to pay back the debt they owed on the building, which totaled about $616 million, according to Forbes.
Forbes also reported that Trump has more than $730 million of debt he will need to pay in the next three years, including a $100 million loan on Trump Tower due in September and a $285 million loan due in November 2022, which is Trump’s 30 percent share of debt on a New York skyscraper.
In 2023 and 2024, Trump will owe an additional estimated $353 million on various properties, which could be a significant financial burden should he choose to mount another White House bid, Forbes reported.
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