International

Trump’s companies have $650 million in debt: report

Companies belonging to Donald Trump have at least $650 million in debt, more than twice the amount shown in public filings made by his presidential campaign, The New York Times reported on Saturday.

The paper employed a property information firm to search publicly available data on more than 30 U.S. properties connected to the Republican candidate, including offices and golf courses.

In addition to the $650 million liabilities, “a substantial portion of his wealth is tied up in three passive partnerships that owe an additional $2 billion to a string of lenders”, The Times said about debt that could significantly affect Mr. Trump’s wealth.

The billionaire tycoon campaigns on what he says is his spectacularly successful real estate record, claiming to be worth $10 billion and citing his business acumen as his major qualification for the presidency.

His lenders include one of the largest banks in China — which Mr. Trump accuses of being a U.S. economic foe — and the investment bank Goldman Sachs, which he says influences his Democratic White House rival Hillary Clinton. — AFP


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Printable version | Dec 3, 2021 7:50:51 PM | https://www.thehindu.com/news/international/Trump%E2%80%99s-companies-have-650-million-in-debt-report/article14580578.ece

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