Name: Trump is almost $2 billion in debt and the amount is growing
Uploaded: 2024-11-01T11:04:26.958Z
Duration: 2 min 40 s
Description: Former President Donald Trump’s debt obligations currently amount to around $1.8 billion, and that amount is growing every month. CNN’s Erica Hill speaks with Forbes senior editor Dan Alexander about Trump’s financial situation.

Former President Donald Trump’s debt obligations currently amount to around $1.8 billion, and that amount is growing every month. CNN’s Erica Hill speaks with Forbes senior editor Dan Alexander about Trump’s financial situation.

Florida

Donald Trump is preparing to take office after defeating Kamala Harris in the U.S. Presidential election.

U.S. Presidential Elect

Former President Donald Trump is facing significant financial challenges, with debt obligations totaling around $1.8 billion. This amount is expected to continue increasing over time. A notable portion of this debt arises from legal judgments, including a $454 million payment to the state of New York following a fraud judgment, and additional interest accumulating on related liabilities.

One significant component contributing to Trump’s debt is his real estate investments, including around $360 million linked to a property in San Francisco. Among these properties, 40 Wall Street is a point of concern, with $118 million owed against it and a leasehold interest estimated at only $116 million. This indicates that the building is currently 'underwater', meaning its debt exceeds its value. The debt associated with this property is due shortly, presenting Trump with either the option to refinance or allocate personal funds to settle it.

Trump's financial resources place him in a delicate position. He reportedly holds approximately $400 million in cash but faces the monumental task of addressing $1.8 billion in liabilities. His options to alleviate the financial burden might include selling shares in his media entity, the Trump Media and Technology Group, which holds significant value. Should he decide to sell a considerable portion of these shares, it could provide him with the necessary funds to reduce his debt significantly, potentially altering his financial outlook.



Trump is almost $2 billion in debt and the amount is growing

A lot of this debt actually comes from legal judgments, $454 million to the state of New York after being found liable for fraud. And he's actually racking up millions more in interest. Walk us through what else is there. Yeah, that's exactly right. The biggest one is that $454 plus the interest, you get to $482. Then you go to his real estate portfolio, he has $360 against a tower in San Francisco. Many of these buildings have lots of debt on them. But there's also the E. Jean Carroll case, two cases where he lost and was ordered to pay $88.5 million. Interest is also accruing on that. So if you put those two legal judgments together, just those things alone, you're at about $575 million. And then you have all of the real estate stuff on top of that. So let's say even if we, case is under appeal, right? So there's a chance that that changes. So if we put that aside, the legal judgments, you've been mentioning the real estate business. What really stands out to you most in terms of the debt there? The one that I think will be potentially most troublesome for Trump is connected to 40 Wall Street. So he has $118 million of debt against that building. And his leasehold interest in the building, we estimate is only worth $116 million. So it looks like the building is a little bit underwater. And that debt comes due in July of next year. So he's got to figure out a solution here pretty quickly. There are two options. One is he could go find a bank to refinance the loan. But banks are going to be pretty skeptical of refinancing an old, aging office building where the occupancy is going down since COVID. Or he can pay for it himself. He has about $400 million in cash. Also these legal judgments hanging over his head. Does he really want to tie up, say, $120 million paying off this debt? That's going to be tough for him to do. But in any case, he's going to have to figure out some solution here as he's rounding the corner into 2025. So he talks a lot about just how much cash he has. Bottom line, does he actually have enough cash to cover these debts? You know, the big question is whether or not he sells off shares of the Trump Media and Technology Group. This is the parent company to Truth Social. Right now he has about $410 million in cash. But he has $1.8 billion in liabilities. So he's going to have to sell something. And those shares right now, now they move a ton, but today are worth over $4 billion. That makes up the majority of his fortune right now. If he sells a big chunk of those, especially if it's before the election when people are really excited about it and it's trading really high, he could easily pocket a half a billion, a billion dollars, and then he wouldn't have to worry about debt concerns at all. If instead he hangs on to them, then he might be in trouble.

The U.S. has seized an oil tanker off the coast of Venezuela, President Donald Trump said on Wednesday, ratcheting up tensions with Caracas.

Washington

Trump confirms seizing of Venezuelan oil tanker

The U.S. House has approved a bill to end all Caesar Act sanctions on Syria, sparking cautious optimism in Damascus as the measure moves closer to becoming law.

U.S. House votes to lift Caesar Act sanctions on Syria

The U.S. military seized a large oil tanker off the coast of Venezuela. Attorney General Pam Bondi said the ship had been used to violate sanctions on oil from Venezuela and Iran.

U.S. seizes oil tanker off Venezuela coast

The daughter of Venezuelan opposition leader Maria Corina Machado has accepted the Nobel Peace Prize on her mother's behalf in Oslo, Norway. Machado, who lives in hiding in Venezuela, is set to make an address on Thursday.

Oslo

Venezuela's Machado awarded Nobel Peace Prize in absentia

President Volodymyr Zelenskyy is commenting on potential elections in Ukraine under certain conditions. Former U.S. ambassador to Ukraine John Herbst joins CBS News with more on the war against Russia.

Kyiv

Ukraine Invasion

Zelenskyy prepared to hold elections after Trump questions motive

A renewed outbreak of fighting between Thailand and Cambodia has derailed a US-brokered peace agreement, with cross-border shelling and air raids forcing more than half a million civilians to flee their homes.

Bangkok

Border dispute between Thailand and Cambodia flares up again

U.S. immigration agents used pepper spray against protesters in Minneapolis on Tuesday as residents blocked the officers’ vehicles and forced them to leave the area.

Minneapolis

Minneapolis protests erupt over ICE operation targeting Somalis

In Australia, millions of kids' social media profiles are going dark, as the country's new social media ban takes effect for anyone under 16. Jo Ling Kent reports.

Canberra

Australia's social media ban takes effect for kids under 16

President Trump, in recent months, has dismissed concerns about affordability, but this evening, in the battleground state of Pennsylvania, he is focusing on the crisis and touting his administration's efforts to lower the cost of living. Nancy Cordes has more.

Pennsylvania

Trump tries to flip the script on affordability

Dozens of protesters blocked a highway near Tel Aviv to demonstrate against moves by the Israeli government to force some ultra-Orthodox Jews into mandatory military service, something they are currently exempt from so they can study the Torah full time.

Tel Aviv-Yafo

Bill over ultra-Orthodox military conscription sparks protests in Israel

President Trump has told Politico that Nicolas Maduro's "days are numbered" in Venezuela. Political strategists Kevin Sheridan and Hyma Moore join with analysis.

Trump says Maduro’s “days are numbered”

The FBI has released a new photo of former Olympian Ryan Wedding, whom the bureau’s director has described as a “modern day iteration of Pablo Escobar.” The ex-skier and snowboarder remains at large as agents continue their search.

FBI releases new photo of alleged drug kingpin Ryan Wedding

Ukraine President Volodymyr Zelenskyy met Pope Leo XIV and Italian Premier Giorgia Meloni in Rome on Tuesday (December 9), meanwhile voicing his refusal to surrender territory to Moscow despite pressure from Washington for territorial concessions.

Rome

Zelenskyy seeks backing from Pope Leo XIV, Italian PM Meloni

A federal judge said Tuesday (December 9) that the Department of Justice can unseal the Ghislaine Maxwell sex trafficking case records. CBS News' Scott MacFarlane has more details.

Judge says DOJ can unseal Ghislaine Maxwell trafficking case records

Prosecutors on Monday (December 8) released new evidence seized from Luigi Mangione on the day of his arrest. He is accused of killing UnitedHealthcare CEO Brian Thompson a year ago and has pleaded not guilty.

Manhattan

New evidence introduced in Luigi Mangione case

The EU antitrust enforcer has opened an investigation into the U.S. tech giant over its use of online content to power its AI services, a move that threatens to ratchet up transatlantic relations.

Brussels

EU Commission opens probe into Google over AI

The U.S. government said the approval, which comes in exchange for a 25% surcharge, would also be available to other chipmakers like Intel and AMD.

Trump gives Nvidia green light to sell H200 chips to China

Ukraine is set to present a revised peace plan to the United States on Tuesday following President Volodymyr Zelenskiy’s talks in London with the leaders of France, Germany, and Britain.

London

Ukraine to share revised peace plan with U.S., Zelenskiy says

The International Criminal Court Tuesday handed down a sentence of 20 years to a Sudanese militia leader for war crimes and crimes against humanity committed during the country's civil war two decades ago.

ICC sentences Sudan militia chief for crimes against humanity

U.S. President Donald Trump on Monday (December 8) unveiled a $12 billion aid package for American farmers, the latest government effort to shore up a key political constituency hurt by the financial fallout from his trade policies.

Trump unveils $12 billion aid package for farmers hit by trade war

Thailand and Cambodia are blaming one another for starting a deadly exchange of fire that killed at least five people and threatens to unravel a U.S.-backed ceasefire between the neighbouring southeast Asian countries.

Surin

Thailand-Cambodia ceasefire could be unravelling

Paramount Skydance made a hostile takeover bid for Warner Bros. Discovery for $108 billion US just days after Netflix announced it made a $72-billion US deal with the legacy studio. It’s a move that even has U.S. President Donald Trump weighing in.

Hollywood

Paramount launches hostile takeover bid for Warner Bros.

President Trump announced Monday he will allow Nvidia to sell its advanced H200 computer chips to "approved customers" in China, but Mr. Trump said the deal does not include Nvidia's more advanced Blackwell system or its soon-to-be-released Rubin system.

Trump says he's letting Nvidia sell some AI chips to China

Ukraine's European allies put on a show of support for President Volodymyr Zelensky Monday as they expressed scepticism about parts of the U.S. proposal to end the war with Russia. The discussions came after President Donald Trump accused Zelensky of not reading his administration's proposal on a deal to end Russia's invasion following almost four years of war.

Downing Street

European allies back Zelensky after Trump criticism

A powerful 7.5-magnitude earthquake shook northeastern Japan late on Monday (December 8), prompting orders for about 90,000 residents to evacuate and tsunami warnings that hours later were downgraded to advisories.

Aomori

7.5-magnitude earthquake strikes Japan's northeast

Ukrainian President Volodymyr Zelenskiy said on Monday (December 8) that unity between Europe, Ukraine and the U.S. was important when negotiating an end to Russia's war in Ukraine. He made the remark during a visit to London.

Kyiv stresses European unity as allies 'skeptical' of U.S. peace plan

Ukrainian leader Volodymyr Zelenskyy and European allies prepared to hold talks in London on Monday (December 8), after President Donald Trump accused him of not reading the U.S. proposal to end the war with Russia.

Zelenskyy to meet European allies after Trump criticism

Thailand has launched airstrikes on Cambodian military sites as renewed border violence threatens a U.S.-backed peace deal.

Renewed border violence threatens Thai-Cambodia peace

South African authorities have withdrawn a 90-day visa exemption for Palestinians, saying the recent arrival of a charter flight with 153 people onboard was part of a campaign of “forced migration.”

Johannesburg

Middle East Conflict

South Africa withdraws 90-days visa exemption for Palestinians

Chinese and Japanese ties came under further strain after a Chinese fighter aircraft trained fire-control radar on Japanese military jets for the first time.

See The Full Story

U.S. Presidential Elect