0311
Diamond Member
The president owes a fortune against a struggling skyscraper in New York. Will he get the cash from someone eager to display loyalty—or from the many who already have?
www.forbes.com
The most troublesome loan in Donald Trump’s empire, a $115 million mortgage against a Wall Street skyscraper, comes due in exactly 46 days. How the president covers that bill will reveal a lot about his current financial standing—and how politics is shaping it.
The property, 40 Wall Street, seems to be deeply underwater. Trump controls the building but not the land on which it sits, long held by a German shipping family. The president currently pays $2.5 million a year in ground rent, but that expense is set to skyrocket to an estimated $16 million in 2033, potentially wiping out all of his $9 million of operating income. As a result, the asset is now worth about $85 million, according to Forbes estimates, or $30 million less than the remaining balance on the loan.
To plug the hole, someone will have to come up with a pile of cash. One option: The president could foot some or all the bill himself, tapping the hundreds of millions he has recently earned from crypto ventures. Forbes last estimated Trump’s liquid holdings at $770 million in March, but much of that is tied up in knots. Trump has around $600 million in legal liabilities, and he has posted nearly $300 million of deposits and bonds associated with those obligations. It’s also not entirely clear how much of his liquid assets sit in cryptocurrencies versus U.S. dollars.
Trump is facing a rebellion in the House. His "Gift" from the Qatar Royal Family raises serious questions about he promised them. Did he accept the jet only to leverage it as part of deal the mortgage? Does he have money available to the mortgage? He has to deal Putin and his war in Ukraine. BiBi committing wholesale geocide in Gaza. And remember he in the war on one he said the Ukraine War on day one, it now four months past that day one.
This Trump Building Appears To Be Deeply Underwater
The president owes a fortune against New York skyscraper. Will he get the cash from someone eager to display loyalty—or from the many who already have?
www.forbes.com
The most troublesome loan in Donald Trump’s empire, a $115 million mortgage against a Wall Street skyscraper, comes due in exactly 46 days. How the president covers that bill will reveal a lot about his current financial standing—and how politics is shaping it.
The property, 40 Wall Street, seems to be deeply underwater. Trump controls the building but not the land on which it sits, long held by a German shipping family. The president currently pays $2.5 million a year in ground rent, but that expense is set to skyrocket to an estimated $16 million in 2033, potentially wiping out all of his $9 million of operating income. As a result, the asset is now worth about $85 million, according to Forbes estimates, or $30 million less than the remaining balance on the loan.
To plug the hole, someone will have to come up with a pile of cash. One option: The president could foot some or all the bill himself, tapping the hundreds of millions he has recently earned from crypto ventures. Forbes last estimated Trump’s liquid holdings at $770 million in March, but much of that is tied up in knots. Trump has around $600 million in legal liabilities, and he has posted nearly $300 million of deposits and bonds associated with those obligations. It’s also not entirely clear how much of his liquid assets sit in cryptocurrencies versus U.S. dollars.
Trump is facing a rebellion in the House. His "Gift" from the Qatar Royal Family raises serious questions about he promised them. Did he accept the jet only to leverage it as part of deal the mortgage? Does he have money available to the mortgage? He has to deal Putin and his war in Ukraine. BiBi committing wholesale geocide in Gaza. And remember he in the war on one he said the Ukraine War on day one, it now four months past that day one.
