[ Editor’s note: What a shocker, Donald Trump is far less wealthy than he claims! It also appears that his much vaunted ‘business sense’ largely consists of getting people to lend him large sums of money and keeping his financial dealings secret.
Don’t forget that this is a man born into great wealth who has been bankrupt four times but keeps getting bailed out. If he had been forced to play by the rules that ordinary Americans have to live by, he would have failed miserably long ago, but there’s nothing ordinary about Trump, he’s part of the organised crime elite therefore he isn’t allowed to fail – he will always be bailed out.
At the very least, Trump should be required to make public all of his financial dealings for scrutiny, nothing should be allowed to remain ‘shrouded in mystery’ if he is to be taken seriously as a valid candidate. Of course, this is something Trump will fight hard to avoid as disclosure that he has been lying all along about his wealth would deeply undermine his campaign for the White House… Ian ]
Times of Israel
Trump companies owe $650 million, says NY Times
Companies belonging to Donald Trump have at least $650 million in debt, more than twice the amount shown in public filings made by his presidential campaign, the New York Times reported Saturday.
The paper employed a property information firm to search publicly available data on more than 30 US properties connected to the Republican candidate, including offices and golf courses.
In addition to the $650 million liabilities, “a substantial portion of his wealth is tied up in three passive partnerships that owe an additional $2 billion to a string of lenders,” the Times said about debt that could significantly affect Trump’s wealth.
The billionaire tycoon campaigns on what he says is his spectacularly successful real estate record, claiming to be worth $10 billion and citing his business acumen as his major qualification for the presidency.
However, he has dismissed mounting pressure even from within his own party to disclose his tax returns or allow an independent valuation of his assets.
Trump’s campaign filings show his businesses owed at least $315 million, the Times noted, saying they appear to be accurate and that Trump was not required to disclose all of his business activities.
Although the paper does not accuse him of any wrongdoing, the investigation “underscored how much of Mr. Trump’s business remains shrouded in mystery.”
The probe “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,” the Times said.
His lenders include one of the largest banks in China — which the Republican candidate accuses of being a US economic foe — and the investment bank Goldman Sachs, which he says influences his Democratic White House rival Hillary Clinton.
As president, the Times said, Trump would be able to make decisions that would have a major influence on his business empire and net worth.
Clinton’s lead over Trump has narrowed to four points, a poll showed Friday. According to the Pew Research Center, if the US presidential elections were held today, 41 percent of registered voters would support Clinton and 37% would vote for Trump. The two fringe candidates, the Libertarian party’s Gary Johnson and Green Party hopeful Jill Stein, would pull in 10% and 4% respectively, the survey found.