Trump Acknowledged a Debt of $400M. It's Much Higher

But 'Forbes' also notes he has significant assets and has a net worth of $2.5B
By Newser Editors,  Newser Staff
Posted Oct 16, 2020 11:54 AM CDT
Trump Acknowledged a Debt of $400M. It's Much Higher
President Trump talks with voters after an NBC News town hall at Florida's Perez Art Museum Miami on Thursday.   (AP Photo/Evan Vucci)

The subject of President Trump's debt surfaced at his town hall Thursday night, and he didn't deny a figure of $400 million raised by NBC's Savannah Guthrie. "It's a tiny percentage of my net worth," Trump said. "$400 million is a peanut," he added, per USA Today, especially when "compared to the assets that I have, all of these great properties all over the world." As it turns out, Trump has a valid point, writes Dan Alexander at Forbes. According to the magazine's breakdown, Trump's assets total around $3.6 billion. However, his debt is also much higher than $400 million and is closer to $1 billion, by the magazine's tally. The bottom line? Trump's net worth is about $2.5 billion.

"He is not broke, despite what many critics claim," writes Alexander. But "one reason for all the confusion: Trump's loans are not fully transparent. It's still unclear to whom he owes an estimated $162 million against his skyscraper in San Francisco, for example." Asked Thursday night whether he owed money to foreign entities, Trump said, "Probably," though he said it wasn't in debt to any "sinister people." The Forbes piece breaks down what is and isn't known about Trump's various properties. (The figure of $400 million surfaced when the New York Times reported that he owed at least that much, according to his tax returns.)

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