May 16, 2019

Donald Trump’s Latest Financial Disclosure Was Just Released

It shows he recently took out a big new loan.

AP Photo/Andrew Harnik

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President Donald Trump’s latest personal financial disclosure was just released, showing that Trump, who already owed more money than any other president in history, borrowed millions more in 2018.

According to the disclosure, Trump borrowed between $5 million and $25 million from Professional Bank, a small Florida outfit that specializes in construction and real estate loans. He borrowed the money at 4.5 percent interest through a limited liability company called 1125 South Ocean LLC. The loan was used to finance the purchase of 1125 South Ocean Avenue, a mansion located next door to Trump’s Mar-a-Lago club and owned by the president’s sister, Maryanne Trump Barry. Last year, Palm Beach-area newspapers reported that Trump’s sons, Donald Jr. and Eric, had purchased Barry’s property for $18.5 million. But Trump’s financial disclosure indicates that in fact he controls the company behind the transaction. Though assets and liabilities are reported in ranges on financial disclosure forms, land records show that the value of Trump’s newest loan $11.2 million.

Read Trump’s 2018 financial disclosure here:

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In "It's Not a Crisis. This Is the New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, how brutal it is to sustain quality journalism right now, what makes Mother Jones different than most of the news out there, and why support from readers is the only thing that keeps us going. Despite the challenges, we're optimistic we can increase the share of online readers who decide to donate—starting with hitting an ambitious $300,000 goal in just three weeks to make sure we can finish our fiscal year break-even in the coming months.

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