President Donald Trump's family business has fully repaid in cash a $160 million loan on its office skyscraper at 40 Wall Street in Manhattan. This was reported by UNN with reference to Reuters.
Details
The loan was due for repayment in early July, and a representative for the Trump Organization stated that the building is now debt-free.
Analysts estimate that about $114 million of the loan remained outstanding. The president's golf and resort businesses have performed well in recent years, generating a lot of cash. In recent months, his family business has entered into lucrative licensing agreements with developers and opened several new ventures in cryptocurrencies, bringing in hundreds of millions of dollars in fees and other revenues.
Recall
US President Donald Trump called on everyone to lower oil prices and keep them low. This statement came after oil prices rose due to US strikes on Iranian nuclear facilities.