In Maze of Trump’s Empire, Unknown Ties and $650 Million in Debt
For example, an office building on Avenue of the Americas in Manhattan, of which Mr. Trump is part owner, carries a $950 million loan. Among the lenders: the Bank of China, one of the largest banks in a country that Mr. Trump has railed against as an economic foe of the United States, and Goldman Sachs, a financial institution he has said controls Hillary Clinton
.. Mr. Trump submitted a 104-page federal financial disclosure form. It said his businesses owed at least $315 million to a relatively small group of lenders and listed ties to more than 500 limited liability companies. Though he answered the questions, the form appears to have been designed for candidates with simpler finances than his, and did not require disclosure of portions of his business activities.
.. 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
.. The form, released by the Federal Election Commission, asks that candidates list assets and debts not in precise numbers, but in ranges that top out at $50 million — appropriate for most candidates, but not for Mr. Trump.
.. In 2015, Mr. Trump borrowed $160 million from Ladder Capital, a small New York firm, using that long-term lease as collateral. On his financial disclosure form that debt is listed as valued at more than $50 million.
.. because federal law requires that presidential candidates disclose personal liabilities, not corporate debt. Mr. Trump, he said, has no personal debt.
.. At 40 Wall Street, Mr. Trump does not own even a sliver of the actual land; his long-term ground lease gives him the right to improve and manage the building. The land is owned by two limited liability companies
.. Mr. Trump’s status in these situations is indicated by the word tenant,
.. “The success of his empire depends on an ability to get credit, to get loans extended to his business entities,” he said. “And we simply don’t know a lot about his financial dealings, here or around the world.”