Trump Companies Have $650M in Debt: Report
According to a new report, Donald Trump’s companies are more than $650 million in debt.
The Hill reports:
The number is more than twice the amount that was shown from public filings the candidate made as part of his presidential bid, the Times reported.
In addition, the investigation found that a large portion of Trump’s wealth is in three passive partnerships that owe an additional $2 billion to a series of lenders.
If the loans were to go into default, the value of the nominee’s investments could drop, though Trump wouldn’t be held liable, according to the Times.
Trump has said that his personal wealth is greater than $10 billion. But he has repeatedly declined to release his tax returns, even amid growing pressure and after his opponent, Democratic nomineeHillary Clinton, and her running mate, Sen. Tim Kaine (D-Va.), released their documents.
Earlier in the campaign, Trump did submit a 104-page federal financial disclosure form, which showed that his businesses owed at least $315 million to a group of lenders. The form also showed ties to more than 500 limited liability companies.
According to the Times, although the candidate answered the questions on the form, it did not appear to ask him about all of his business activities.
The New York Times report noted that if elected, Trump would have heavy influence over monetary and tax policy but said that much of Trump’s business “remains shrouded in mystery.”
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