Share this page!

Dan Alexander Profile picture
Twitter logo
19 Oct, 8 tweets, 4 min read
1/ Lenders will expect Trump’s businesses to pay back an est. $900M from 2021 to 2024. If the president is reelected, that debt would come due during his 2nd term in office.

We know this because we have the documents. Let’s go through them one-by-one. forbes.com/sites/danalexa…
2/ We’ll start in a San Francisco office tower, where Trump holds a 30% interest alongside publicly traded Vornado, which discloses the debt. As of June, it was $543M, but I’m estimating that’s down to $541M now, and Trump’s share is therefore $162M. It’s due September 2021.
3/ Next up: Trump Tower, where the president has an $100 million loan maturing 9/6/22, as you can see in this debt prospectus. It’s an interest-only loan, so Trump has not paid down the principal at all. Debt coming due in 2nd term so far: $262M.
4/ Two months after that loan matures, there another one coming due against 1290 Ave of the Americas, a Manhattan office building in which Trump also holds a 30% stake alongside Vornado. It’s $950M, so Trump’s portion of that is $285M. Debt coming due in 2nd term now up to $547M.
5/ Let’s head down to Florida. In 2023, the president’s loans against the Trump National Doral golf resort will come due, according to his financial disclosure report. You can see two mortgages here totaling $125M. Debt coming due in 2nd term now at $672M.
6/ By 2024, Trump will have to pay back his loan against the D.C. hotel. Deutsche Bank gave him a $170M mortgage to build out the place, which now appears to be underwater—or close to it. This one could get messy. Debt coming due in 2nd term now up to $842M.
7/ The same year, Trump will have to resolve a different Deutsche Bank loan, this time an estimated $45M against his tower in Chicago. The hotel there also doesn’t seem to be thriving, which could make that one tricky as well. Debt coming due in 2nd term: Now at an est. $887M.
8/ A loan against Trump Plaza, one of the president’s properties in Manhattan, comes due on July 6, 2024, according to this document. That loan has $13M of principal left on it. So the tally of debt coming due in Trump’s 2nd term if he gets reelected concludes at $900M.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Dan Alexander

Dan Alexander Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @DanAlexander21

Dan Alexander Profile picture
11 Oct
1/ Trump has indeed lost a fortune as president. One of the great ironies is that if he'd just divested at the start, then plowed the proceeds into the S&P 500, Trump would have avoided all these ethics complications--and he would be hundreds of millions of dollars richer today.
2/ That's what the ethics experts suggested that he do at the time. Trump, however, insisted on hanging onto his properties. At the time, it wasn't heard to tell that this was a risky political decision, which could mire his presidency in ethical controversies.
3/ But at the start of the presidency, it was difficult to tell whether this would be a good or bad *business* decision.

Would Trump make money on the presidency? Or would politics damage his companies? We didn't know, because no one had really done something like this before.
Read 8 tweets
Dan Alexander Profile picture
10 Oct
1/ Hats off to the New York Times, which published its latest installment in its tax series today. In my eyes, this is the most impressive follow-up they have done to the original story. I’ll be sharing additional thoughts here over the next hour or so. nytimes.com/interactive/20…
2/ The story describes a waterfall of potential conflicts of interest, connected to money coming into Trump's hotels and clubs from various tycoons, lobbyists, foreign governments and so on. This type of reporting is extremely difficult. Let me explain why.
3/ According to federal guidelines, the president has to disclose who pays him money directly, even if the payments are as small as a couple hundred bucks. But the rules do not require the president to disclose payments that flow through his companies. It's a massive loophole.
Read 14 tweets
Dan Alexander Profile picture
9 Oct
1/ The New York Times released their latest installment in their terrific Trump taxes series today. I've got some thoughts on this one as well, which I'll be outlining here over the next hour or so. nytimes.com/interactive/20…
2/ The story really includes two stories. First, there's one about cash flowing out of the Trump International Hotel in Las Vegas. Second, there's another about a train project that Trump's partner in the hotel has talked to about the president. We'll start with the cash.
3/ On 9/15/2016, weeks before the election, Trump signed a document to secure a $30M loan against the Trump International Hotel in Las Vegas, which he owns in a 50-50 partnership with fellow billionaire Phil Ruffin. You can see the amount and the signature on these documents.
Read 15 tweets
Dan Alexander Profile picture
9 Oct
1/ In a Trump Tower press conference, held nine days before he took office, Donald Trump described his plan to separate his business from his presidency. Over the last few years, the key pillars of that plan have crumbled. Let’s go through them one-by-one. c-span.org/video/?421482-…
2/ Promise 1 of Trump’s ethics plan: “No new foreign deals will be made whatsoever during the duration of President Trump’s presidency,” his attorney said. Trump did at least one new foreign deal anyway.

(See the promise at 31:57 of the video below.)
c-span.org/video/?421482-…
3/ We know that the president did new a new foreign deal in office because he himself admitted it—on a financial disclosure report filed with federal ethics officials. You can see here that he sold $3.2M of land in the Dominican Republic on Jan. 29, 2018. extapps2.oge.gov/201/Presiden.n…
Read 10 tweets
Dan Alexander Profile picture
8 Oct
1/ On the topic of China, it's worth remembering that the president's business has accepted millions of dollars from a state-owned bank in China while Trump has served in office. Here's how it worked.
2/ Here's a debt prospectus, tied to Trump Tower, which shows that the Industrial and Commercial Bank of China paid annual rent of roughly $1.9 million to Trump Tower Commercial LLC. You can see that the lease was set to expire on 10/31/2019 -- midway through Trump's first term. Image
3/ If there is any question about who owns Trump Tower Commercial LLC, see Trump's financial disclosure report, which shows that the Donald J. Trump Revocable Trust owns 100%, through several shell companies. Here's the document: extapps2.oge.gov/201/Presiden.n…
Read 8 tweets
Dan Alexander Profile picture
6 Oct
(1/9) When Donald Trump became the president of the United States, his brand got bigger, but it didn’t get better. Just take a look at what happened to Trump National Doral, his golf resort in Miami. forbes.com/sites/danalexa…
(2/9) Here’s a video of the Trump Organization’s tax specialist getting sworn in at a local proceeding where she is going to explain the situation in December 2017, 11 months into Trump’s presidency.
(3/9) “I met with the director of finance, as well as the director of development for all of the Trump Organization,” Trump’s tax representative explains here. “And they mentioned that throughout 2016, because of the political climate, there have been severe ramifications.”
Read 9 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get email notifications when new thread is out from this Author!

Check out other threads from this Author!

Read all threads by @DanAlexander21