22:16 GMT27 October 2020
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    Last year, The New York Times reported that Deutsche Bank had been lending Donald Trump millions of dollars for years since the late 1990s, and that POTUS could be lying about his net worth and assets.

    Forbes has claimed that President Donald Trump currently owes at least $1 billion to his creditors, more than twice the $400 million amount that POTUS recently “seemed to agree with”.  

    The US magazine apparently referred to Thursday night’s live town hall in Miami, where Trump did not deny that he owes entities worth about $400 million, vowing to tell Americans to whom he owes money. “I will not mind at all saying who it is”, he said.

    According to Forbes, Trump-related loans are spread out over various assets, including hotels, mansions and golf courses, with most of them listed on the financial disclosure report that the president annually files with the federal government.

    Forbes also valued Trump’s assets at $3.66 billion, which it argued is “enough to make his net worth an estimated $2.5 billion”.

    Despite repeated speculation that Deutsche Bank remains the only financial institution to lend money for Trump, the magazine insisted that POTUS has loans with at least six other lenders.

    Adding to “all the confusion” is the fact that the president’s loans are “not fully transparent”, Forbes went on to claim, saying that it is still unclear to whom POTUS owes “an estimated $162 million against his skyscraper in San Francisco, for example”.  

    “The loan against 1290 Avenue of the Americas is also something of a mystery. And it’s difficult to pin down the amount the president owes on a loan tied to his Bedford, New York, mansion. When asked about all of this, the Trump Organization did not respond”, the news outlet pointed out.

    Forbes also published a partial list of the alleged Trump debts, including those related to the New York-based building 1290 Avenue of the Americas. According to the news outlet, POTUS’ “share of the $285 million debt on the building appears to be the largest liability in his entire portfolio”.

    The magazine’s claims followed a New York Times report in March that most of the president’s current $421 million debt comes from the Doral golf resort in Florida ($125 million) and Trump's Washington hotel ($160 million), something that was rejected by POTRUS as “fake news”.

    Last year, the NYT argued that Deutsche Bank has kept lending Trump millions of dollars since the late 1990s, despite POTUS being deemed a “risky” client. The outlet alleged that the bank’s loans to Trump totalled about $2 billion, also asserting that the president could be lying about his net worth and assets.

    Related:

    Treasury Department: US National Debt Exceeds $26 Trillion for First Time
    ‘System Breaking Down’: US Dire Straits, Corporate Debt Are ‘Mockery of Free Enterprise’ - Economist
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    debt, assets, Forbes, Donald Trump, US
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