Short On Cash After 2016 Election, Trump Secured Secret Loan [Forbes]
Ladder Capital Corp Class A (LADR)
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Source: Forbes
By Dan Alexander , Forbes Staff T he last time Donald Trump won an election, he faced a cash shortage, forcing him to take out an unexpected loan. He kept the debt hidden, leaving it off his financial disclosure reports. He apparently repaid it quickly, using proceeds he received from selling his daughter's penthouse to a woman with Chinese government connections. Forbes identified the loan, hidden for years, after scrutinizing documents and testimony from Trump's recent fraud trial, which touched on the episode so briefly that it was easy to miss what exactly happened. Trump had plenty of cash before he ran for president. In mid-2013, he listed $339 million of liquid assets on his balance sheet. Trump kept earning money but spent far more, shelling out more than $350 million to develop properties and another $66 million to run for president, burning through his cash pile. Days after he won, he committed to another big expense, agreeing to settle litigation involving Trump Univ
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LADR
Earnings
- 10/24/24 - Beat
LADR
Sec Filings
- 11/14/24 - Form SC
- 11/12/24 - Form SC
- 10/28/24 - Form 10-Q
- LADR's page on the SEC website