Donald Trump, Facing $590 Million in Debt Payments, Gets $617 Million From Property Deal
On 5/1/21 at 10:02 AM EDT
Former President Donald Trump, who reportedly has $590 million in debts due over the next four years, is set to receive a $617 million cash payout as part of a bond deal made by Vornado Realty Trust, his longtime majority-stake partners.
Trump apparently scored the massive $600-million plus in cash after investors bought up $1.2 billion of bonds tied to the refinancing of a San Francisco office tower, 555 California. Trump has a 30 percent minority stake in the building, which makes up a massive portion, as much as $800 million, of his entire net worth. Because Vornado holds the majority stake, Trump doesn t have any control over the two properties he owns with them, the second being 1290 Avenue of the Americans in New York City. The windfall he stumbled into comes at a great time for Trump, analysts said, because numerous banks and businesses cut ties with him in t