Report: Trump Has $650M in Real Estate Debt

The New York Times investigates the candidate's finances
By Michael Harthorne,  Newser Staff
Posted Aug 20, 2016 12:01 PM CDT
Report: Trump Has $650M in Real Estate Debt
The New York Times took a deep dive into Donald Trump's finances.   (AP Photo/Gerald Herbert)

A New York Times investigation into Donald Trump's US real estate holdings found companies owned by the candidate have at least $650 million in debt—twice what Trump listed on a campaign financial disclosure form. He's also part of three passive partnerships that owe another $2 billion. "Trump's fortunes depend deeply on a wide array of financial backers," the Times writes. And Trump has railed against some of those backers on the campaign trail. Two of the lenders behind a $950 million loan to one of Trump's New York office buildings are the Bank of China and Goldman Sachs.

The investigation shows just how little we actually know about Trump's business, the Times reports. He very likely has the most complex finances of any presidential candidate in history, and many of his business ties are purposefully obscured. "We simply don't know a lot about his financial dealings, here or around the world," a former chief White House ethics lawyer says. Trump has had at least four business bankruptcies in the past due to debt, though the CFO of the Trump Organization tells the Times that Trump has no personal debt, only corporate debt. Read the full investigative piece here. (Read more Donald Trump stories.)

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