Donald Trump must very quickly cough up nearly $115 million against a Wall Street skyscraper, with a loan coming due in exactly 46 days. The problem is that the loan is for much more than the building is actually worth. Given the reality, Forbes writes that how Trump covers the loan will say a lot about his current finances, along with how politics shapes his business interests going forward. As per usual, Trump is loaded with debt, and people in debt are forced to get creative to stay “rich.” Trump – as president – has a lot of creative people with colorful options awaiting, not all of them American.
According to Forbes:
The property, 40 Wall Street, seems to be deeply underwater. Trump controls the building but not the land on which it sits, long held by a German shipping family. The president currently pays $2.5 million a year in ground rent, but that expense is set to skyrocket to an estimated $16 million in 2033, potentially wiping out all of his $9 million of operating income. As a result, the asset is now worth about $85 million, according to Forbes estimates, or $30 million less than the remaining balance on the loan.
So someone is going to have to come up with $115 million. One option, of course, is Trump himself pays the loan back – that’s normally how it is done in America. Indeed, Forbes writes that Trump might tap into the hundreds of millions he has recently earned from crypto ventures. Forbes last estimated Trump’s liquid holdings at $770 million, but much of that remains tied up in “knots” (Making one question what Forbes means by “liquid”). Additionally, Trump has around $600 million in legal liabilities, and he has posted nearly $300 million of deposits and bonds associated with those obligations. It would appear that Trump could cover it himself. But he is president of the United States and – well, why bother covering your own loans when you might be able to get someone else?
As Forbest notes, Trump could find someone willing to refinance the debt. But because the property isn’t profitable, it’s unlikely that a typical lender would ever believe the property will produce enough to pay back all $115 million that Trump owes. But – and this is key –Â perhaps a nontraditional lender will want to extend the money in hopes of a different sort of payback. Perhaps some Gulf state will come up with another gift? There are ways to pay someone back without writing a check. Ask Jared!
Indeed, this all looks so 2018 – when Jared had a balloon payment on 666 Fifth Ave due and the money came from (!) Who else? The Qataris – those warm-hearted, generous freaks, always quick with a check to corrupt occupants of the White House. Can you envision any scenario in which Donald Trump pays this loan personally?
I can imagine one – and it highlights why the meme coins can be so devastating. All it takes is one highly corrupt actor to make a new run on a meme coin, suddenly creating hundreds of millions in profit on which Trump can cash out and e’ viola – loan covered as if there was never any problem or question and having it look as though Trump is paying his own debts. Or do it Jared’s way and just pretend that some Qataris are really into Wall Street property such that they wholly ignore a better deal across the street and gladly pay your overpriced sum… just because?
Either way, watch this space because that fcking loan must be paid off (Someone has already spent that $115 million) and how it is done will say volumes about this president. Sadly, that speech has already been delivered, over and over. We know how this goes. We’ll just see a new variant.
Ask Jared. No need for a new meme, either.
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Easy, easy. Somebody else’s $$$. Done and done.
$115 million?
That’s less than the current flying bordello bribe.
As Lando says, Done and done.