New York Times: Trump's Companies are $650 Million in Debt

Investigations by the New York Times regarding the financial status of Donald Trump, the Republican candidate for the upcoming U.S. presidential election, indicate that his debt is double the amount he has declared, including loans from the People's Bank of China. According to the report, companies owned by Donald Trump are 'at least' $650 million in debt. The New York Times wrote on Saturday, August 30, that its investigations have shown that Trump relies on a wide range of investors, including those he targets in his campaign. This investigation was conducted for the New York Times by a firm specializing in real estate regarding Trump's companies, office buildings, and golf courses. The research states that a significant part of his wealth is contingent on three agreements between him and his partners, who collectively owe $3 billion in loans. Although the responsibility for repaying these loans does not directly fall on Trump, it plays a role in determining the depreciation of their joint investments. According to this research, the main office building of his companies in Manhattan, New York, which Trump is one of the owners of, owes $950 million to the 'Bank of China' and the large financial group 'Goldman Sachs.' Mr. Trump has repeatedly taken a stance against China over the past year, describing it as a country that 'is invading America.' Another example mentioned by the New York Times is the Trump hotel in Las Vegas, which has his name inscribed on the exterior of the building, and he currently owns fifty percent of the hotel’s shares; this hotel took a $190 million loan six years ago, and half of that debt still burdens Trump. In the 104-page document he submitted regarding his financial status to federal entities, Trump claimed he only owes $315 million to 'a small group of lenders.' However, the New York Times investigation indicates that he has only referred to a portion of his debts and those of his company. Donald Trump presents himself as a successful self-made businessman with a personal fortune of ten billion dollars and claims he can replicate his 'personal success' for the U.S. economy as well. The New York Times and Donald Trump have been in severe conflict recently; Trump has angrily stated that he may not allow New York Times reporters to cover his election campaign. The Associated Press has also reported that the advertising costs of Trump's campaign have increased from $8.4 million in July to $18.5 million in August. In recent days, Trump's campaign has begun airing television ads in key states such as Florida, Ohio, Pennsylvania, and North Carolina at a cost of nearly five million dollars. Trump's campaign has also expanded its electoral activities in Israel over the past two weeks; among the hundreds of thousands of Israeli-American dual citizens, 350,000 adults are eligible to vote in the U.S. The latest polls conducted for this weekend in the U.S. indicate that Hillary Clinton is leading Trump by up to eight percent.