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On the campaign trail, Donald J. Trump, the Republican presidential nominee, has sold himself as a businessman who has made billions of dollars and is beholden to no one.But an investigation by The New York Times into the financial maze of Mr. Trump’s real estate holdings in the United States reveals that companies he owns have at least $650 million in debt — twice the amount than can be gleaned from public filings he has made as part of his bid for the White House. The Times’s inquiry also found that Mr. Trump’s fortunes depend deeply on a wide array of financial backers, including one he has cited in attacks during his campaign....http://www.nytimes.com/2016/08/21/us/politics/donald-trump-debt.html?_r=1
Beyond finding that companies owned by Mr. Trump had debts of at least $650 million, The Times discovered that a substantial portion of his wealth is tied up in three passive partnerships that owe an additional $2 billion to a string of lenders, including those that hold the loan on the Avenue of the Americas building.
“I am the king of debt,” Mr. Trump once said on CNN. “I love debt.” But in his career, debt has sometimes gotten the better of him, leading to at least four business bankruptcies.He is, however, quick to stress that these days his companies have very little debt.
Mr. Trump indicated in the financial disclosure form he filed in connection with this campaign that he was worth at least $1.5 billion
All great business carry large debt. It is just the media writing good.
