President Donald Trump may have several properties worth millions but the latest report reveals his liabilities. According to newly released documents, Trump owes to German, U.S. and other lenders at least $315.6 million as of April 2017.
The newly released document reveals that Trump’s liabilities at least incorporate $130 million to Deutsche Bank Trust Company Americas, a unit of German-based Deutsche Bank AG.
While the same 98-page disclosure document, posted by the U.S. Office of Government Ethics, discloses his income that amounts to at least $594 million in the year leading up to April 2017. Trump owns assets worth at least $1.4 billion.
Trump’s largest component of income comes from the golf resort Trump National Doral in Miami, Florida, worth at least $115.9 million. Whereas, Trump’s winter retreat, Mar-aLago resort in Palm Beach, where he spends much of his weekends as President, revenue grew by 25 percent. After Trump’s win at the election last year, the initiation fees went up to $200,000.
The exact figures could total much more, since many of the disclosures are listed as a wide range. The document lists at least five of the 16 liabilities are ‘Over $50,000,000’ without an exact sum.
The unit of German-based Deutsche Bank AG, Deutsche Bank Trust Company Americas, was one of Trump’s biggest creditors, with inclusive liabilities summing up to a minimum of $130million.
The rich commander-in-chief’s liabilities also includes a $50 million loan for the Old Post Office, which is considered to be a landmark historic property in downtown Washington and Trump has recently reportedly redeveloped into a hotel located near the White House. The property earned him nearly $20 million.
Trump also reported liabilities of at least $110 million to Ladder Capital, a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida.