Former president Donald Trump’s estimated debt has reached eye-watering levels.
He may have just asked a federal judge to force Twitter to reinstate his account, but Trump should have been focusing on his financial matters.
While it may be possible for him to eventually pay back the loans he has taken out, if the 75-year-old tries to run for presidency again in 2024, his absurd level of debt may add to the pressure.
Since leaving office, Trump’s businesses have accumulated about $200 million more debt, leading to a grand total of an estimated $1.3 billion, Forbes reports.
However, believe it or not, the whopping total is considered to be an improvement, compared to the past few months of stats.
Trump holds a 30% minority interest in an office complex located in San Francisco, which saw $1.2 billion loaned by JPMorgan Chase. Trump’s partnership in the company is limited, however his funds would be drastically impacted – despite him not being held personally liable – if there was a default.
Furthermore, Trump profited off the loan, as he and his business partner Vornado Realty Trust used it to pay off an old debt on the building. They also took a cash sum of $616 million as their liquidity had been improved by the deal, despite increasing the level of debt on it.
Trump Tower is set to be costing Trump a hefty sum soon as well, as he is the sole owner of the commercial space. In September 2022, the former president will be expected to cough up $100 million for a loan on the property. However, despite his own debt, it is expected that Trump will be able to pay the loan with his own money due to the loan being able to be refinanced.
An estimated $738 million worth of loans is due over the next three years. However, it is reported that it will be possible for the 75-year-old to pay them all back.
In 2023, two loans totalling $125 million will be due off the back of Trump Doral, a golf resort in Miami. His hotels in DC and Chicago are also anticipated as setting him back by $215 million, with the debt expiring in 2024.
Hopefully Trump will be able to keep count of his numbers this time, after the embarrassment he faced as a result of a recount funded by ‘Stop The Steal’ that revealed he lost the 2020 election by a greater margin then originally thought.