Trump Companies’ Combined Debt: $650 Million

Trump Companies’ Combined Debt: $650 Million

According to a New York Times investigative report, the collective debt of the

companies Donald Trump owns is a whopping $650 million, which is twice as much

as his staffers had revealed to the public.

Times investigators based their analysis on publicly available information on the

Republican nominee’s U.S. assets. About 30 properties were included in the research

such as golf courses and office buildings.

But beside the $650 million debt, Trump owes its business partners an extra $2 billion

under a trio of passive partnerships, the newspaper reported. The recent findings could

give a hard blow to Trump’s campaign as the real estate mogul had said on multiple

occasions that he is fit to be commander-in- chief due to his life-long business

astuteness.

According to Trump, his real estate portfolio is now worth $10 billion and counting,

but surprisingly the entrepreneur-turned- politician declined to make his tax return

public or allow third-party experts re-evaluate his assets.

According to the Republican presidential nominee’s campaign, his businesses’

combined debt is more than $315 million. Trump was not asked to publicize all of his

business ventures.

Times investigative journalists’ intention was not to accuse the billionaire of fraud,

but they argued that the findings underline how much of his fortune and business

activities remain “shrouded in mystery.”

The brief investigation has also revealed that the Republican nominee’s fortune is

highly dependent on several key financial backers that include entities Trump has

attacked in his campaign.

For instance, Trump has slammed one of the China’s largest financial institutions for

undermining the U.S. economy, but that bank is one of his top lenders along with

Wall Street bank Goldman Sachs, which Trump has criticized for supporting Hillary

Clinton.

Trump Campaign’s Reaction

Trump campaign’s replied to the recent accusations, saying that the discrepancies

were due to the Federal Election Commission’s policies for personal financial

disclosures when it comes to presidential candidates.

According to the campaign, Trump could have as well omit filling the liability section

on the FEC form because federal rules only seek the disclosure of a candidate’s

personal, not corporate debt. Trump Organization’s CFO Allen Weisselberg noted that

his employer has currently no personal debt.

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