4.6 • 12 Ratings
🗓️ 24 May 2025
⏱️ 4 minutes
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The president owes a fortune against a struggling skyscraper in New York. Will he get the cash from someone eager to display loyalty—or from the many who already have?
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0:00.0 | Here's your Forbes Daily Briefing for Saturday, May 24th. |
0:05.3 | Today on Forbes, Trump has to cough up $115 million in the next 43 days. |
0:13.0 | The most troublesome loan in Donald Trump's empire, a $115 million mortgage against a Wall Street skyscraper comes due in exactly 43 days. |
0:23.6 | How the president covers that bill will reveal a lot about his current financial standing |
0:29.6 | and how politics is shaping it. |
0:32.6 | The property, 40 Wall Street, seems to be deeply underwater. |
0:36.6 | Trump controls the building, but not the land on which it sits, |
0:40.8 | long held by a German shipping family. |
0:43.8 | The president currently pays $2.5 million a year in ground rent, |
0:48.3 | but that expense is set to skyrocket to an estimated $16 million in 233, |
0:54.0 | potentially wiping out all of his $9 million of operating |
0:57.0 | income. As a result, the asset is now worth about $85 million, according to Forbes' estimates, |
1:04.0 | or $30 million less than the remaining balance on the loan. To plug the hole, someone will have to come up with a pile of cash. |
1:13.5 | One option is that the president could foot some or all of the bill himself, tapping the |
1:18.7 | hundreds of millions he has recently earned from crypto ventures. Forbes last estimated Trump's |
1:24.1 | liquid holdings at $770 million in March, but much of that is tied up in knots. |
1:30.2 | Trump has around $600 million in legal liabilities, and he has posted nearly $300 million of |
1:35.8 | deposits and bonds associated with those obligations. It's also not entirely clear how much of |
1:42.1 | his liquid assets sit in cryptocurrencies versus |
1:44.9 | U.S. dollars. |
1:46.0 | A second possibility is that Trump could find someone willing to refinance the debt. |
1:52.0 | Given the dearth of profits, it's hard to imagine a typical lender believing the property |
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