Yes, Donald Trump is still a billionaire. That makes his $750 tax payment even more scandalous by DanAlexander21
The New York Timesabout the president’s taxes, which detailed big losses in some years and limited income in others. The answer: Yes, he is indeed.
Many of Donald Trump’s businesses generate a huge amount of operating income, even though his IRS filings reportedly show very little tax income. That’s important because operating income, not tax income, is a key factor in determining the value of a real estate asset. Investors want to know how much a building throws off in annual profits.
Consider 40 Wall Street, a skyscraper in New York City that Donald Trump controls. Documents filed with the Securities and Exchange Commission show that Trump’s net operating income was $18.1 million in 2019. There are 1.2 million square feet in the building, according to a different document filed with the SEC.
The president’s partner at 555 California Street, a publicly traded real estate firm named Vornado, disclosed in public filings that its 70% share of the building kicked off $60 million of net operating income in 2019; that means Trump’s 30% stake produced $26 million. A document connected to a loan against 1290 Avenue of the Americas, another building in which Trump holds a 30% interest, lists $96 million of 2019 net operating income, suggesting the president’s share was $29 million.
Add up all of Donald Trump’s assets—the ones that throw off big cash, the ones that lose serious money, and the ones that don’t really operate as businesses—and the total hits that $3.7 billion figure. Real assets worth real money. But that’s not Trump’s net worth. In order to figure that out, you have to consider liabilities.
The president borrowed $125 million through two publicly recorded mortgages at Doral. His company secured an agreement to borrow $170 million against the D.C. hotel. Thestory lists a balance on that loan of $160 million. It’s possible that Trump has paid some of it down. The president’s financial disclosure report lists liabilities against his Chicago tower of more than $75 million. Tack on at least another $360 million to make it $1.1 billion.
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