Forbes Does the Math: Donald Trump Is a Billion Dollars in Debt

President Donald Trump’s personal debts exceed one billion dollars – more than twice the amount he has claimed them to be – according to an analysis by Forbes of his assets and liabilities published on Friday.

“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 Trump files annually with the federal government. Two, which add up to an estimated $447 million, are not,” writes Dan Alexander, a senior editor at Forbes who has covered Trump’s business practices over the last several decades.

“Some people also like to suggest that Deutsche Bank is the only institution willing to lend to Trump. That’s not true. The president’s creditors include at least six other institutions, two of which began or reworked deals while the president was in office,” Alexander explains.

“One reason for all the confusion: Trump’s loans are not fully transparent,” Alexander continues. “It’s still unclear to whom he 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.”

Alexander estimates Trump’s net worth to be roughly $2.5 billion, given the value of his assets ($3.66 billion) minus his liabilities ($1.16 billion).

The bottom line, as Alexander points out, is that the president “is not broke.”

The data listed below is taken directly from financial statements that Trump has turned over to the United States government, as compiled by Forbes:

1290 Avenue of the Americas, New York City:
What Trump owes: $285 million
Who is the creditor: Unclear
When it’s due: November, 2022
Interest rate: 3.34%

Trump International Hotel, Washington DC:
What Trump owes: $170 million
Who is the creditor: Deutsche Bank
When it’s due: 2024
Interest rate: Variable

555 California Street, New York City:
What Trump owes: $162 million
Who is the creditor: Unclear
When it’s due: September, 2021
Interest rate: 5.1%

40 Wall Street, New York City:
What Trump owes: $138 million
Who is the creditor: Ladder Capital
When it’s due: July 6, 2025
Interest rate: 3.665%

Trump National Doral Golf Club, Miami, Florida:
What Trump owes: $125 million
Who is the creditor: Deutsche Bank
When it’s due: 2023
Interest rate: Variable

Trump Tower, New York City:
What Trump owes: $100 million
Who is the creditor: Ladder Capital
When it’s due: September 6, 2022
Interest rate: 4.2%

Trump International Hotel and Tower, Chicago, Illinois:
What Trump owes: >$75 million
Who is the creditor: Deutsche Bank, Chicago Unit Acquisition LLC
When it’s due: 2024, for an unspecified portion
Interest rate: Variable

Trump Plaza, New York City:
What Trump owes: $13 million
Who is the creditor: Ladder Capital
When it’s due: July 6, 2024
Interest rate: 3.85%

Mar-a-Lago, Palm Beach, Florida:
What Trump owes: $11 million
Who is the creditor: Professional Bank
When it’s due: June 1, 2048
Interest rate: 4.5%

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Trump National Golf Club, Colts Neck, New Jersey:
What Trump owes: ~$11 million
Who is the creditor: Amboy Bank
When it’s due: 2028
Interest rate: 5.25%

Trump Park Avenue, New York City:
What Trump owes: $10 million
Who is the creditor: Investors Savings Bank
When it’s due: 2020
Interest rate: 3.25%

Trump National Golf Club, Washington DC:
What Trump owes: $7 million
Who is the creditor: Chevy Chase Trust Holdings
When it’s due: 2029
Interest rate: 5.5%

Trump International Hotel and Tower, New York City:
What Trump owes: $6 million
Who is the creditor: Ladder Capital
When it’s due: August 6, 2026
Interest rate: 4.05%

Seven Springs, Bedford, New York:
What Trump owes: $5-25 million
Who is the creditor: The Bryn Mawr Trust Company
When it’s due: 2029
Interest rate: 4.5%

The immense debts attached to the 14 aforementioned properties total $1.16 billion, for many of which Trump will receive hefty bills before the end of his second term, should he win or somehow manage to steal one.

Eighteen days until the election.