WIN OR LOSE in November, one thing won’t change for Donald Trump: Over the next few years, his company must settle a series of whopping debts. Before the end of a theoretical second term, his company will have to refinance—or, in a far less likely scenario, pay off—nearly a half-billion dollars in loans linked to some of his most prized assets, including Trump Tower. These debts are maturing at a perilous moment for Trump, whose hotels and resorts have been plagued by declining revenues. And that was before the coronavirus pandemic pummeled the hospitality industry in general and the Trump Organization in particular, forcing the full or partial closure of most of its hotel and resort properties.
On financial disclosure forms, Trump has reported holding 14 loans on 12 properties. At least six of those loans, representing about $479 million in debt, are due over the next four years. Some are guaranteed by Trump himself, meaning a creditor could come after his personal—not corporate— assets if he defaults. If he holds onto the White House, the refinancing of these debts could take his conflicts of interest to absurd new heights. How will the public know if these deals are on the up and up or whether Trump is receiving sweetheart terms from a bank that wants an in with the president? And what might a lender desire in return for helping Trump out of a financial jam?
This story is from the July/August 2020 edition of Mother Jones.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July/August 2020 edition of Mother Jones.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Let Them Eat Kelp
Is seaweed farming the wave of the future?
To Match a Predator
Dating apps promise to hook you up with romance. But they can deliver con artists, rapists, and murderers.
A Pennsylvania Prophet
Meet the Christian nationalists who want to assert dominion-starting with the Keystone State.
"I'm Not Turming the Other Cheek Any More"
Radicals took over the Michigan GOP. Now they can't stop losing.
"Absolutely Do Not Send Them There"
Foster kids have few advocates and little agency. That makes them the perfect cash cow for the country's biggest psychiatric hospital chain.
RICH DOC, POOR DOC
Why do the most important kinds of doctors earn the least money?
FREEDOM READERS
Authors of banned books-like me-are battling right-wing censorship daily. But we can't do it alone.
VAPOR TRAIL
After a cannabis product turned up at my kid's school, I rode into the Wild West of unregulated pot.
MEDICAL RESTRAINTS
How health care companies use debt to trap nurses on the job
Bad Neighbors
Tightly packed poultry and pig farms could be incubating the next deadly flu.