Friday, April 01, 2016

IF TRUMP IS A MULTI-BILLIONAIRE THEN WHY DOES HE OWE SO MUCH?

Donald Trump claims to be worth $10 billion. Yes, that's billion, not million.

But if Trump is so rich then why does he owe so much?

And what influence could those lenders have over Trump?

The good news is that he seems to no longer use the major Wall Street banks.

But who really are his creditors?

Republican presidential candidate Donald Trump owes at least $250 million to banks for various real estate projects, according to his personal finance disclosure forms.

His creditors mostly are small firms, from New Jersey-based Amboy Bank to specialized real-estate firm Ladder Capital Finance LLC. Deutsche Bank is the only bank with a big Wall Street presence that continues to lend to him, The Wall Street Journal reported Saturday.

[source : Donald Trump Owes At Least $250 Million to Banks, WSJ, http://blogs.wsj.com/moneybeat/2016/03/20/trumpwallst0320/, 20th March 2016]

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