Former President Donald Trump is known for his iconic moves in the business industry and the adjustments he has made to the United States of America during his presidency. The businessman’s net worth currently sits at a whopping $2.5 billion USD, but we all know he has acquired a surplus of money throughout his many years of negotiating business deals throughout the world. However, new information recently came to light when discussing Trump’s financial status, which is that the multi-billionaire has hit a new personal record by being approximately $1.3 billion in debt from his combined businesses.
Trump was loaned over $1 billion from various outlets such as JPMorgan Chase, who helped the former president in paying $1.2 billion, “against a San Francisco office complex in which Trump holds a 30% minority interest,” according to unidentified sources. One of his representatives firmly stated, “The loans are spread out over more than a dozen different assets – hotels, buildings, mansions, and golf courses. Most are listed on the financial disclosure report that Trump files annually with the federal government. Two, which add up to an estimated $447 million, are not.” The most surprising part about all of this information is the fact that the 75-year-old man’s balance sheet is actually in better condition than it was a couple of months ago.
Over the next three years, the former president is expected and predicted to acquire an added $738 million onto his already multi-billion dollar debt fees. This occurrence also initiated Forbes to officially drop Trump their 400 lists of America’s richest people, since his net worth suddenly decreased about $400 million from what it was originally at a year ago. There is no telling how Donald Trump will go about handling this specific situation, for as we have seen in the past the New York native is known for being highly unpredictable.